Amazon and eBay accused of profiting from online VAT fraud in UK
In a report into online fraud, the Public Accounts Committee of the UK Parliament claims that Amazon and eBay are profiting from online VAT fraud, while British businesses are disadvantaged by the illegal tax practices of sellers on these online marketplaces. Not charging VAT when they should, sellers on platforms as Amazon and eBay could undercut prices ‘by up to 20%’. At the same time, online marketplaces continue to earn commissions and ‘profit from people who are defrauding the British taxpayer’. The committee calls for urgency from HM Revenue and Customs, as it has ‘not prosecuted a single seller for committing online VAT fraud‘.