A proposed tax overhaul could hold major online marketplaces like Amazon and eBay financially accountable for ensuring sellers on their platforms pay their owed taxes, potentially generating hundreds of millions in additional revenue for the government. Under the plan, these platforms would take on the role of tax collectors for third-party vendors, shifting the burden from individual retailers to the larger companies. The move aims to close loopholes that have allowed some sellers to avoid proper tax obligations while benefiting from the infrastructure of these digital marketplaces. If implemented, it would mark a significant shift in how online sales are taxed, with implications for both businesses and consumers.
Firms such as Amazon and eBay would be responsible for collecting tax owed by retailers selling on their platformsA tax crackdown on online marketplaces such as Amazon and eBay that could raise up to £1bn more for the Treasury is reportedly being drawn up for John Healey’s first budget.The chancellor is said to be preparing to announce that online marketplaces will be made responsible for collecting tax owed by retailers selling on their platforms. Continue reading...
