Budget 2018 

Budget: Tech tax contribution could be higher than forecasts

Investors may have been disappointed by third-quarter numbers from the US technology giants, but UK tax collectors are likely to have been rubbing their hands with glee. Under Philip Hammond’s new tech tax, it’s the double-digit revenue growth reported at companies such as Facebook (US:FB.), Google-owner Alphabet (US:GOOGL) and Netflix (US:NFLX) that will be taxed rather than their characteristically lacklustre profits.

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