Here’s our Weekly round-up of important e-commerce news, just for you!
Every Tuesday, we will be bringing you relevant VAT and e-commerce industry news to keep you informed.
Overseas Businesses Face eBay VAT Charge Changes
Pat Sweet, CCH Daily
Last year the UK Chancellor successfully push through legislation to make all sellers trading via UK online marketplaces liable for VAT. The big players, namely eBay and Amazon, can now be held liable for any VAT not recovered by overseas sellers who are not registered for VAT with HMRC, which means that they are scrutinizing these companies diligently.
This new legislation has seen a 10 fold rise in registrations by international internet sellers for VAT in the past year, netting an additional £875 million in VAT revenue.
UAE Takes a Major Step Towards Introduction of VAT in 2018
Richard Hubbard, International Adviser
In a move by the UAE Government to reduce its dependence on crude oil exports, it will be introducing a new 5% VAT charge on goods and services as of January 1st, 2018. The region as a whole is looking towards implementing taxation as a means of creating revenue diversification and sustainability.
Retail E-commerce in Germany to Top $65 Billion
According to the latest figures, it looks as if German consumers are beginning to embrace the online shopping habits of their European neighbours. As a nation Germany has been more hesitant to adopt digital purchasing than the UK, for a variety of reasons including the cultural preference for paying in cash for goods, but this is changing fast with retailers enjoying a boom in online revenue.
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