The US tax authorities could soon receive information from auction houses
such as eBay and Sotheby’s on customers that carrying out lots of transactions.
The Internal Revenue Service
is expected to introduce the regime from next year for customers carrying
out more than 100 transactions of at least $5,000 ($2,564), and could collect
$2bn in taxes, reports the FT.
eBay has argued that the
strategy is anti-competitive as some of its competitors are exempt from the
HM Revenue &
Customs has repeatedly warned eBay users in the UK to consider the
tax implications of trading on the website.
Drastically fewer offices for HMRC in the hope to reduce their running costs
Tayabali Tomlin and d&t directors launch £20 a month TaxGo service, aiming to be the 'biggest UK firm' by client numbers
Companies must report on their complex financial structures including offshore accounts and notify HMRC
An examination by the Public Accounts Committee (PAC) has revealed serious concerns relating to HMRC’s plans