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Finance Bill 2016: VAT and online marketplaces

Finance Bill 2016: VAT and online marketplaces
Published on: 31 March 2016
Published by: LexisPSL
  • 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?

Article summary

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. or take a trial to read the full analysis.

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