NAO to investigate VAT loophole
Watchdog to look into VAT avoidance involving retailers' subsidiaries based in Channel Islands and elsewhere
The NAO is to look into the e-commerce companies that avoid VAT by being
The government spending watchdog is concerned that HMRC may not be cracking
down effectively on abusive avoidance schemes that allow retailers to sell goods
from offshore companies and avoid the tax, The Observer reported.
‘E-commerce is changing very fast, and so are the risks it poses. We want to
make sure the tax authorities are making people abide by the rules,’ an NAO
spokesman is quoted as saying.
Firms that may be looked into include PartyGaming, the Gibraltar registered
gaming company, as well as retailers including Tesco, Woolworths and Amazon, the