- VAT Compliance and Fraud Prevention: Amazon supports reforms to the UK’s VAT Deemed Reseller rules, advocating for mandatory VAT collection on all sales, regardless of seller location, to create a level playing field and reduce VAT fraud, which currently allows bad actors to exploit regulatory gaps.
- Significant Contributions: Since 2021, Amazon has collected over £6 billion in VAT for the UK Government and estimates that up to £3.2 billion in sales are made by fraudulent sellers on online marketplaces annually. Amazon emphasizes the need for immediate changes to strengthen VAT collection and protect legitimate businesses.
- Investment in the UK: Amazon plans to invest £40 billion in the UK over the next three years, creating thousands of jobs and new facilities. The company collaborates closely with HMRC to enhance compliance measures and is committed to leveraging technology and analytics to combat VAT fraud effectively.
Source Amazon
Latest Posts in "United Kingdom"
- UK Budget 2025: VAT E-Invoicing, Digital Compliance, and Post-Brexit Tax Reforms Announced
- FTT Rules HMRC Closure Notice Bars VAT Registration: Hairdresser’s Turnover Below Threshold, Appeal Allowed
- UK Tribunal Rules Self-Employed Hairdresser Not Liable for VAT Registration Under Rent-a-Chair Model
- EU Insists on VAT Representative for UK Firms Despite British Objections to Import Rules
- Mandatory B2B e-invoicing as of April 2029
