TaxPersonal TaxVAT could be levied on ‘virtual’ internet goods

VAT could be levied on 'virtual' internet goods

The European Commission is studying a proposal to impose value added tax on music, software and other 'virtual' goods bought over the internet.

The proposals will bring the sale of music and software in line with the sale of tangible goods such as CDs and books, for which suppliers are required to register for VAT in the European Union, the Financial Times reports today.

Due to be announced soon, the proposals are mainly aimed at US suppliers that escape the VAT net by selling vitural goods.

Cashflow bonanza for mail-order companies after VAT court victory defies pundits

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