Amazon & eBay to expose potential VAT evaders for HMRC

[EGuitarStar]

Long overdue but finally a step in the right direction. However, I feel it will cost HMRC more to actually go after those failing to pay tax than they will recover.

Amazon and eBay are to ink a deal with the UK tax man this month to provide data on potential VAT evaders.

Both companies confirmed to The Register they will sign a voluntary agreement with HMRC, along with other online marketplaces, to combat sellers failing to pay their fair share of tax in Blighty.

According to HMRC, the tax loss from VAT fraud and error on online marketplaces was £1.5bn in 2016/17. It estimates that overseas sellers contributed to approximately 60 per cent (up to £900m) of the VAT loss, with the rest attributed to UK-based sellers.

https://www.theregister.co.uk/2018/04/06/amazon_ebay_hmrc_vat_fraud/

Anyone here that'll be affected by this move?

 

[EGuitarStar]

Aren't amazon supposed to be avoiding a lot of tax as well?

I am sure HMRC will turn a blind eye to Amazon if they grass up enough small scale dodgers.