- The British Independent Retailers Association (BIRA) supports Amazon’s call for urgent reform to address widespread VAT fraud by overseas sellers on online marketplaces.
- BIRA urges the UK Government to also close the £135 duty-free import loophole, which gives overseas sellers an unfair advantage over British retailers.
- VAT fraud by overseas sellers is estimated to cost the UK up to £700 million annually and involves up to £3.2 billion in sales.
- BIRA and Amazon both advocate for VAT to be collected on all online marketplace sales, regardless of seller location.
- BIRA calls for swift government action on both VAT fraud and the duty-free threshold to protect independent retailers and ensure fair competition.
Source: atvtoday.co.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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