Link: New CFO at AOL Europe
The move will result in the ISP paying VAT in the UK for the first time, and is a coup for rival, Freeserve, after a long-running legal battle between the two internet giants.
Gordon Brown adopted new EU internet regulations which will come into play on 1 July. They stipulate that ISPs operating in Europe must abide by the tax laws in each European country.
A spokesperson for AOL said the company had chosen Luxembourg because of its low VAT rate, and because it already has an office there.
MTD represents 'the single most significant change to the UK’s system of taxation in recent times', says Knill James partner Nick Rawson. So, how prepared are SMEs for digital tax reporting?
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Unincorporated businesses under the VAT threshold given an extra year to prepare before MTD becomes mandatory