September 14th, 2017
Amazon and eBay have been accused of putting UK companies out of business by turning a blind eye to widespread tax fraud by foreign companies and organised criminals using their platforms.
Experts told the Commons Public Accounts Committee on Wednesday that companies, which are based in countries including China and the US, openly admit to not paying any VAT, which allows them to undercut British competitors by up to 20 per cent.
Committee chair, Meg Hillier, said many firms were laying off staff and “going to the wall” as a result.
Richard Allen of campaign group, Retailers Against VAT Fraud, said it was “easy” to find companies avoiding tax on Amazon’s marketplace, which hosts thousands of third-party sellers.
This article was posted: Thursday, September 14, 2017 at 7:45 am