- Finance Bill 2016: VAT and online marketplaces
- Original news
- What are the VAT measures in the Finance Bill 2016 affecting overseas businesses and online marketplaces?
- When do these measures come into effect?
- What powers do HMRC already have to combat VAT non-compliance by overseas traders?
- Why is the government making these changes now?
- What practical issues do you foresee with implementing the measures affecting online marketplaces?
- Is there also work being carried out to combat these issues at an EU or Organisation for Economic Co-operation and Development (OECD) level?
- Any other points of interest?
Tax analysis: How will the Finance Bill 2016 impact online marketplaces and operators? Etienne Wong, a barrister at Old Square Tax Chambers, advises that measures contained in the Bill will considerably widen HMRC’s powers to counter VAT non-compliance.
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