Treasury Minister warns the EU could block moves to impose an 'Amazon tax'

Mail Online | 1/25/2019 | Kate Ferguson, Senior Political Correspondent For Mailonline
ArceusArceus (Posted by) Level 3
Click For Photo:

EU rules could block moves to impose an 'Amazon tax' - amid mounting fears online giants are killing Britain's high streets.

There are growing demands to introduce a new 'online sales tax' after it emerged Amazon paid a meagre £1.7m - despite profits hitting nearly £2billion.

Cent - Tax - Companies - Cent - Sales

The 20 per cent tax would be slapped on companies which make at least 20 per cent of its sales on the internet.

It comes as many of Britain's high streets have been turned into ghost towns as businesses close - squeezed between falling footfall and rising business rates.

Treasury - Minister - Mel - Stride - Brussels

But Treasury Minister Mel Stride has warned that strict Brussels' rules on state aid could block attempts to impose the new tax.

In a letter to the Treasury select committee, he said: 'The government considers there is a high risk that such a tax would be found to be a state aid.'

EU - Tax - Unfair - Retailer - Cent

He said the EU could deem the tax unfair because it would penalise a retailer which sold 21 per cent of its goods online - while letting one that sold 19 per cent on the internet avoid the new tax.

He warned: 'This could distort competition. The extent of this would need to be judged on the basis of a detailed proposal.'

Britain - Streets - Turmoil - Country - Retailers

Britain's high streets have been plunged into turmoil as many of the country's leading retailers have closed down.

(Excerpt) Read more at: Mail Online
Wake Up To Breaking News!
A pox on both their houses!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!