The possibility that large technology firms face larger tax bills if they are taxed on revenues rather than profits will be of concern for firms like Google and Facebook.

Up till now they have managed to pay a tiny tax bill- an issue that has been a political hot potato for some time- because of the difficulty in defining where their profits are actually made.

The prospect that in future they are likely to be taxed on sales booked in the UK, expressed by the Financial Secretary to the Treasury Mel Stride last week, looks to be a game changer.

This approach, bringing in more tax revenues in the short term, will be seen as positive for the government, unless over time the tech giants decide to move their substantial operations elsewhere.

It’s an obvious way to address the extremely complex approach to tax collection from multinationals in the digital age where it is often impossible to track where in the world value is created – and profits are made.

But it also raises a more complex set of questions for companies on how they approach tax strategy.

Traditionally a finance director’s approach has simply been one of minimising tax burden at all costs- but now companies’ stakeholders as well as other interested parties are keen to understand whether a company operates a responsible tax strategy- ie pays its dues wherever it operates around the world.

So the issue is now more nuanced. For in the digital age, any company failing to operate a responsible tax strategy can be identified and its reputation tarnished- resulting in the value of its stock being cut.

In the example of tech giants, the decision to stick rigidly to a tax strategy looks likely to result in something even worse for them- a resetting of rules by the UK government.

On tax matters at least, we are truly in an age of complexity.