Feeds

VAT man caught in Web of e-commerce tax dodges

Industry leaders warn government is missing out on millions

  • alert
  • submit to reddit

Intelligent flash storage arrays

The Institute of Directors (IoD) has warned that the government could lose up to £10 billion per year in VAT revenues, thanks to the Internet. It says that the scale of online shopping will make it impossible for authorities to track all transactions. The biggest threat comes from products such as software or music, that can be bought electronically from abroad. Meanwhile, spending on e-commerce looks set to increase. Research group NOP says that most people expect to be spending at least twice as much online in the next year. The IoD is calling for government action, but even it will admit there is no easy solution. Taxing goods in the country of origin would be fine within the EU, but more complex outside it, and may even create VAT havens if only one country did not support the scheme. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.