Chancellor Rishi Sunak delays decision on online sales tax until autumn amid hope of global tax reform
Chancellor Rishi Sunak has delayed a decision on an online sales tax until the autumn amid hope of global tax reform.
The tax aims to level the playing field between booming online retailers and the High Street, but would hit US firms such as Amazon hard.
Waiting game: Chancellor Rishi Sunak has delayed a decision on an online sales tax until the autumn
US president Joe Biden ‘has shown some movement’ on attempts led by the OECD to develop a global approach to digital services taxation, the Financial Times reported.
Such a move would help the Treasury capture more tax from international giants, on profits generated in the UK.