Daily Tax Report: International

U.K. Mulls New Guidance for ‘Google Tax’ on Global Businesses

June 25, 2018, 5:24 PM

The U.K. government is considering new guidance for its “Google tax” to clarify that multinational businesses facing the punitive measure won’t be taxed twice on the same set of profits.

Companies facing the U.K.’s diverted profits tax have a 12-month review period in which the government can change the sum of the charge. In addition, the time frame can be cut short if a business agrees to change its cross-border tax affairs, leading to the company avoiding a DPT charge and paying more U.K. tax.

The U.K.’s tax authority has...

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