Treasury presses ahead with online sales tax
The Chancellor is reportedly amping up plans for an ‘Amazon tax’ that would help bricks-and-mortar high street stores.
It comes after businesses were left bitterly disappointed by reports that Rishi Sunak has delayed a radical overhaul of the business rates system.
Treasury officials have sped up work on a new online sales tax in the past few weeks, the Daily Telegraph reported.
Officials are reportedly looking at what goods and services would be covered by a potential levy, according to the newspaper’s sources.
A concrete decision is not expected at the upcoming Budget, with any major announcement set to be held off until the spring.
A Government source told The Telegraph: “The plans are at a very rudimentary stage but clearly the direction of travel has been set now.”
One source told the newspaper a consultation would probably be proposed before tech giants faced significant tax hikes.