Apple to pay more tax in UK following EU profit-shifting law repeal
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Apple could be made to pay more tax on earnings from the United Kingdom, proposals from the Chancellor of the Exchequer Rishi Sunak suggest, with a repeal of legislation potentially affecting how tech giants manipulate their taxes on the way.
The UK Treasury’s annual budget outlines inbound tax changes and other policy updates that can affect how individuals and companies are taxed. One small change has been spotted in the announcement that paves the way to bigger tax changes that can affect Apple and other tech companies in the future.Buried as a single line in the budget announcement but explained further by the UK government’s website, the proposal spotted by Bloomberg repeals a law that affects royalty payments.
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