% | $
Quotes you view appear here for quick access., Inc. Message Board

  • lrking1 lrking1 Sep 9, 2009 11:09 AM Flag

    More than just discretionary stuff

    I'm no expert but I do know that I go to Amazon for more than just regular retails stuff. I bought college textbooks, school uniform clothes, etc. it all starts at

    SortNewest  |  Oldest  |  Most Replied Expand all replies


      sure amazon scam is bust next

      UK...banged BEZOS on vat tax.........

      Online DVD prices to rise as government abolishes VAT loophole
      HCC News Team - 18 August 2009 - 11:42am
      Major retailers including Amazon, Asda, Argos, HMV, and could lose out as the government is considering abolishing a VAT loophole which allows them to source cheap DVDs via the Channel Islands.

      The loophole allowed retailers to avoid paying VAT on goods costing under £18 which were shipped from the Channel Islands. It seemed to make sense at the time, as it was costing more to collect the tax than it was worth, but independent High Street retailers complained that this gave an unfair price advantage to the majors - particularly as they sometimes shipped goods out of the UK to the Channel Islands and back again to qualify for the exemption. Now it seems that the loophole is to be closed, and the price advantage will disappear.

      The Guardian reports that a leaked Treasury letter reveals the practice may be abusing rules and is “under review”. One business has apparently already been challenged, but "no precedent was set... as the business in question accepted ... they had accounted for VAT incorrectly."

      The Treasury is now keen to claw back the estimated £110m it loses every year to this practice, as online sales of DVDs and CDs to the UK grow to an estimated 28 per cent of the market; but businesses such as HMV, which actually has a distribution centre in Guernsey, may still be able to benefit from the arrangement.

      If DVD and CD prices from the majors do rise, the independents feel this will restore a 'level playing field' - but some gloom-merchants argue that the main effect will just be to push more customers towards importing discs for themselves, or downloading pirated material

      Online retailers under threat as Government clamps down on VAT ...
      Aug 17, 2009 ... Online retailers using a Channel Islands VAT loophole on the sale of ... reveal that Government now believes UK retailers may be “abusing” the rules. ... Islands grew to £620m last year, costing the Government £110m in lost tax. ... this is the government closing the door after the horse has bolted. ...

664.80-8.46(-1.26%)Nov 30 4:00 PMEST