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‘Amazon tax’: Britain is reportedly considering introducing a special tax to help online retailers

“The U.K. government is thinking about introducing a so-called “Amazon tax” to support struggling online retailers, Finance Minister Philip Hammond said in an interview with Sky News on Friday” writes unknown author for cnbc.com. “If we can’t get international agreement to do this we may have to look at temporary tax measures to rebalance the playing field until we can get international agreements,” Hammond said.Earlier on Friday, Amazon faced intense criticism after it emerged the tech giant paid less corporation tax in the U.K. in 2017 than it did the previous year.In Britain’s strongest intervention yet on the issue, Hammond told Sky News the U.K. wanted to ensure taxation was fair for retail companies doing business the “traditional” way as well as for those conducting business online.When asked specifically which kinds of measures, he replied: “The EU has been talking about a tax on online platform businesses based on value generated … That’s certainly something we’d be prepared to consider.”.
 
Source: cnbc.com



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