VAT on E-commerce

VAT on E-commerce
Author :
Publisher : The Stationery Office
Total Pages : 48
Release :
ISBN-10 : 9780102938029
ISBN-13 : 0102938024
Rating : 4/5 (024 Downloads)

Book Synopsis VAT on E-commerce by : Great Britain: National Audit Office

Download or read book VAT on E-commerce written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2006-05-26 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The value of internet sales (known as e-commerce) in the UK has more than trebled between 2002 and 2004 to £18.1 billion, with a further surge around Christmas 2005, and this level is expected to rise to nearly £60 billion a year by 2010. It is estimated that in 2005-06 HM Revenue and Customs collected over £1 billion in VAT on e-commerce goods and services. HM Revenue and Customs does not separately identify the exact amount of VAT collected from e-commerce because businesses are required to calculate and pay over VAT for their entire taxable activities, which include both traditional forms of business and e-commerce. In light of these developments, this NAO report examines the implications of the growth in e-commerce for VAT collection and the approach of HM Revenue and Customs to VAT collection. The report finds that HM Revenue and Customs has been alert to emerging areas of risk, such as the failure of e-commerce businesses to register for VAT and the non-payment or underpayment of import VAT on goods ordered over the internet from outside the EU. The report supports the assessment by HM Revenue and Customs that the overall risk to VAT revenue from on-line shopping is currently low, but as activity increases in this fast changing environment, it will be important that the Department builds on its work to keep abreast of possible changes in the patterns and levels of risk to VAT.


VAT on E-commerce Related Books

VAT on E-commerce
Language: en
Pages: 48
Authors: Great Britain: National Audit Office
Categories: Business & Economics
Type: BOOK - Published: 2006-05-26 - Publisher: The Stationery Office

DOWNLOAD EBOOK

The value of internet sales (known as e-commerce) in the UK has more than trebled between 2002 and 2004 to £18.1 billion, with a further surge around Christmas
E-commerce and EU VAT
Language: en
Pages: 185
Authors: Rosamund Barr et al.
Categories: Law
Type: BOOK - Published: 2021-07-12 - Publisher: Kluwer Law International B.V.

DOWNLOAD EBOOK

E-commerce and EU VAT: Theory and Practice Rosamund Barr, Jeroen Bijl, Nils Bleckman, Gijsbert Bulk, Ethan Ding & Matthias Luther The new EU rules governing onl
eCommerce and the Effects of Technology on Taxation
Language: en
Pages: 367
Authors: Anne Michèle Bardopoulos
Categories: Law
Type: BOOK - Published: 2015-03-31 - Publisher: Springer

DOWNLOAD EBOOK

This book focuses on the impact of technology on taxation and deals with the broad effect of technology on diverse taxation systems. It addresses the highly rel
VAT Aspects of Electronic Invoicing and E-commerce
Language: en
Pages: 0
Authors: Marc Govers
Categories: Electronic commerce
Type: BOOK - Published: 2000 - Publisher: Intersentia nv

DOWNLOAD EBOOK

Currently European Community legislation and national legislations do not allow using electronic invoicing in a business friendly way. Electronic invoicing freq
The Role of Digital Platforms in the Collection of VAT/GST on Online Sales
Language: en
Pages: 88
Authors: OECD
Categories:
Type: BOOK - Published: 2019-06-20 - Publisher: OECD Publishing

DOWNLOAD EBOOK

This report provides practical guidance to tax authorities on the design and implementation of a variety of solutions for digital platforms, including e-commerc