UK digital tax to hit Facebook, Google, Uber and Amazon, Moody's warns

UK digital tax to hit Facebook, Google, Uber and Amazon, Moody's warns

6 years ago
Anonymous $yysEBM5EYi

https://finance.yahoo.com/news/uk-digital-tax-hit-facebook-google-uber-amazon-moodys-warns-165657695.html

FB) and Google-owner Alphabet (GOOG) appear to be the “primary targets” of the tax but it would likely also hit Amazon (AMZN) and Uber." data-reactid="25">Moody’s senior vice-president Neil Begley and analyst Vincent Tingos said in a note sent to clients on Monday that Facebook (FB) and Google-owner Alphabet (GOOG) appear to be the “primary targets” of the tax but it would likely also hit Amazon (AMZN) and Uber.

“The implementation of such a tax would be credit negative for these and other digital information companies because it would reduce free cash flow generation and scale back the tax benefits achieved through the US Tax Cuts and Jobs Act of 2017,” the pair wrote.