VAT on web shopping

Banks and credit card companies should be asked to apply VAT to consumer purchases made over the Internet if the government hopes to recoup tax on the purchases, the Institute of Directors said this week. Without such a move – or the use of shopping software – ‘there is a danger that governments will either increase VAT on non-electronic commerce or impose administrative burdens that will impede electronic commerce,’ the IoD said.

Related reading

HMRC banknotes