British public believe big tech should pay more tax, find Fair Tax Foundation

More than two-thirds of the British public believe major technology companies should pay additional tax in the UK, according to new research from the Fair Tax Foundation.

The survey from the not-for-profit organisation found that 67 per cent of respondents support a move that would see technology giants such as Facebook, Google, Apple and Amazon pay an additional digital services tax to increase their overall tax contribution in the UK.

The research also found strong support for greater corporate tax transparency. Around 74 per cent of respondents said multinational companies should be required to provide more information about their income and tax payments, while 76 per cent backed increased reporting requirements for smaller businesses.

The Fair Tax Foundation said the results demonstrate growing public demand for greater accountability from both global technology firms and businesses operating in emerging digital sectors.

Alongside concerns about taxation of multinational tech firms, two-thirds of respondents said the UK should aim to become a world leader in regulating cryptocurrencies and other digital assets to help prevent tax avoidance and evasion.

The organisation argued that both issues are becoming increasingly important as digital business models, online platforms, and decentralised financial technologies continue to reshape the economy.

There was also strong backing for linking public funding and procurement opportunities to responsible tax behaviour. More than eight in ten respondents supported requiring fair tax practices from businesses receiving government bailout funding, while 71 per cent said companies bidding for public sector contracts should demonstrate responsible tax conduct.

Paul Monaghan, chief executive of the Fair Tax Foundation, said that tax avoidance

undermines the ability of business to compete fairly and reduces national productivity, and that there needs to be a change in tax transparency.

“The UK public care about many issues, but ‘tax justice’ is consistently at the top of their concerns when it comes to corporate conduct,” he added. “They want to see government do much more to ensure that all businesses, both large and small, pay their fair share of tax.”

He continued: “The days of large multinationals such as Amazon refusing to disclose what their income, profit and corporate taxes are in the UK need to end. As does the almost complete absence of tax transparency we see from the vast majority of micro-enterprises, which is helping to fuel fraud across the country.”