Marketplaces to Report Vendor Sales, Tax Under New U.K. Rules (1)

July 30, 2021, 12:35 PM; Updated: July 30, 2021, 1:51 PM

The U.K. has released details of a plan to force online marketplaces like Amazon.com Inc. and eBay Inc. to report vendors’ sales and tax information to the authorities.

Tax authority HM Revenue & Customs estimates it lost as much 1.5 billion pounds ($2.1 billion) of value added tax to non-compliance in online marketplaces in 2017, with 60% of vendors being outside the U.K.

  • The rules, outlined in a consultation launched Friday, would require online platforms to collect the first name, last name, primary address, tax identification number, and date of birth of sellers and report this information ...

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