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Online sales tax would 'kneecap' small retailers, startups warn

Online sales tax would 'kneecap' small retailers, startups warn
cityam.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cityam.com Daily Mail and Mail on Sunday newspapers.

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Treasury weighs tax lifeline for struggling businesses

Treasury weighs tax lifeline for struggling businesses
More generous tax treatment of losses and expanded R&D tax credits are under consideration for next week s Budget
26 February 2021 • 5:23pm
Businesses that made a profit during the Covid crisis could bear the brunt of a hefty rise in corporation tax over future years as Rishi Sunak considers plans to give loss-making firms a higher rebate.
Treasury officials are understood to have held discussions with tax experts about an expansion of the so-called loss carry-back rules, which allow firms which previously made a loss to cut their tax bills when they return to profit. ....

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Online harms bill: firms face up to £18m fine for illegal content

Online harms bill: firms face up to £18m fine for illegal content
theguardian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theguardian.com Daily Mail and Mail on Sunday newspapers.

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Online harms bill: firms may face multibillion-pound fines for illegal content

First published on Mon 14 Dec 2020 19.01 EST
Social media companies will need to remove and limit the spread of harmful content or face fines of billions of pounds, the UK government has announced, as it finally reveals the details of its proposed internet regulation.
The online harms bill, first proposed by Theresa May’s government in April 2019, sets out strict new guidelines governing removal of illegal content such as child sexual abuse, terrorist material and media that promotes suicide, which sites must obey or face being blocked in the UK.
It also requires platforms to abide by a new code of conduct that sets out their responsibilities towards children. The bill requires the most popular sites to set their own terms and conditions, and face fines if they fail to stick to them. ....

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The Walls Are Closing in on Big Tech as Global Regulators Crack Down

New laws to police Big Tech are being announced by countries and regions at a rate of knots that will force some of the world s most valuable companies to fundamentally change how they go about their business and make their billions. There s also talk of breaking up monopolies.
Dom Hallas, executive director at the Coalition for the Digital Economy, which is a U.K. tech lobbying group, told CNBC that other nations will likely follow in the footsteps of U.S. regulators.
I think the game changer is the U.S., said Hallas. Ultimately, other jurisdictions will do what they do. If the U.S. go for them, that s the ball game. It s not clear we are quite there yet but we re certainly closer. ....

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