U.K. unveils new Digital Tax

The United Kingdom has said it will continue with the intention of introducing a tax first of its kind on the revenue generated locally by large technology companies, the most concrete attempt ever made by an industrialized nation to rewrite the tax code world for the digital era.

The new tax comes while dozens of other countries are contemplating similar withdrawals on digital services sold by companies like Alphabet Inc., Google and Facebook Inc. The government hopes to get more income from these services as economic activity moves more and more.

Navojit Dastidar