Commonly seen as a tech-friendly hub, the U.K. is now targeting the likes of Alphabet Inc. and Facebook Inc. by introducing a digital services tax, joining the growing chorus against cash-rich tech giants.

U.K. Chancellor of the Exchequer Philip Hammond unveiled the measure in his Autumn Budget in London. Aiming to raise 400 million pounds a year ($512 million) for the government, Hammond said the tax was designed to hit the largest internet businesses — not consumer or internet startups.

Bloomberg

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