Digital services tax consultation, ICAEW REP 87/19, 5th September 2019

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In Folder: ICAEW Representations, 2019

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Digital services tax consultation, ICAEW REP 87/19, 5th September 2019

Response from the ICAEW Tax Faculty to HMRC's Digital Services Tax consultation issued on 5 September 2019, commenting on draft guidance and legislation published on 11 July 2019; highlights concerns about the balance between legislation and guidance, lack of clear definitions for key terms (user, activity, online platform, internet search engine), scope and allocation of revenues, and the potential impact on low margin businesses and smaller users; notes international context and supports an OECD-led solution, queries the absence of a sunset clause, and welcomes deductibility and a safe harbour; discusses the 2% rate and a 25 million pound allowance; recommends aligning notification deadlines with payment dates and other measures to reduce compliance burdens; references the Tax Faculty's ten tenets for a better tax system. (AI generated description)

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description: Response from the ICAEW Tax Faculty to HMRC's Digital Services Tax consultation issued on 5 September 2019, commenting on draft guidance and legislation published on 11 July 2019; highlights concerns about the balance between legislation and guidance, lack of clear definitions for key terms (user, activity, online platform, internet search engine), scope and allocation of revenues, and the potential impact on low margin businesses and smaller users; notes international context and supports an OECD-led solution, queries the absence of a sunset clause, and welcomes deductibility and a safe harbour; discusses the 2% rate and a 25 million pound allowance; recommends aligning notification deadlines with payment dates and other measures to reduce compliance burdens; references the Tax Faculty's ten tenets for a better tax system. (AI generated description)

title: Digital services tax consultation, ICAEW REP 87/19, 5th September 2019

creator: Tax Faculty

creator: ICAEW

subject: Digital Services Tax

subject: Business taxation

subject: Taxation

subject: Corporation tax

publisher: ICAEW

date: 2019-09-05

type: Text

format: pdf

language: en