Exploring potential VAT challenges posed by the sharing economy

Exploring potential VAT challenges posed by the sharing economy – Following the publication of a call for evidence and summary of responses earlier this year, the government continues to work with stakeholders both in industry and at the OECD to develop its understanding of the sharing economy and its implications for VAT. Specifically, the government is conducting further engagement with stakeholders on the VAT rules for cross-border services supplied between businesses, as well as the possibilities offered by increased data sharing and how such sharing or reporting would be best achieved. The government recognises the opportunities and value created by the sharing economy, while remaining committed to protecting the tax base.

Source

• HMRC – Autumn 2021 – Tax administration and maintenance

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