Meanwhile, there are problems with Mr. Hammond’s measure. Facebook’s British subsidiary had a bill for cash corporate taxes of just £16 million in the same year. So it might be better for companies to take a chances with Mr. Hammond’s levy. Another difficulty is that the biggest companies caught by such a tax are based in the United States. And Washington has little incentive to negotiate, especially if it might lose some of its own tax revenue.

Source: New York Times October 31, 2018 14:16 UTC