Budget 2017: Tech giants targeted over VAT payments

Budget 2017: Tech giants targeted over VAT payments
 

The government is to take steps to stop VAT avoidance by multinationals that shelter their income abroad and also by sellers on online websites.
From April 2019, companies such as Google, Amazon and Apple will have to pay tax on royalties relating to sales they make in the UK.
The move is expected to bring in £200m a year on average.
HMRC will also be able to hold online marketplaces responsible for any unpaid VAT for all traders on their platforms.
All businesses operating on their sites will have to show a valid VAT number.
'Unfair advantage' The increased tax income from multinationals... read more

 
22 November 2017 in Business, Views: 45
Source: BBC
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