The UK is considering an online sales tax to raise $2.5 billion and level the playing-field for high-street businesses, according to a report
The UK Chancellor Rishi Sunak is reportedly considering an online sales tax, as concerns grow around the collapse of British high-street retail.
The online sales tax could consist of two parts — a 2% charge on goods sold online, and a mandatory charge on consumer deliveries. The tax could be a "sustainable and meaningful revenue source for the government," the UK Treasury said.The UK Chancellor Rishi Sunak is reportedly considering an online sales tax to save high-street businesses and raise more than $2.5 billion a year for the UK government.that the online sales tax would comprise two parts. First, a levy of around 2% on goods sold online, and second, a mandatory charge on customer deliveries, which could also help cut carbon emissions.
In a consultation document published July 21, the UK Treasury said an online sales tax could provide a "sustainable and meaningful revenue source for the government." Sunak is considering the proposal, the paper reported. , a call for evidence on business rates, the Treasury highlighted corncerns that current rates favour e-commerce platforms, which operate outside of "high-value properties.
Another charge being considered by the government, called a capital values tax, would vary depending on a property's rental value and shift the tax burden from the occupant to the owner.that businesses would not have to pay value-added tax, VAT, until the end of June.
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