Welcome

U.K. Considers Toughening Up Tax Rules on Uber, Airbnb Trade

Dec. 9, 2020, 11:27 PM

The U.K. government is considering toughening up tax rules on activities in the sharing economy, such as rides with Uber Technologies Inc. or bookings made on Airbnb Inc., in a bid to raise more revenue and create a “level playing field” for businesses.

In a consultation document published Wednesday, the Treasury said it is reviewing how value-added tax is applied in the sector, because traditional businesses are more likely to be hit by the levy compared to those which are more digitally focused.

Britain is looking at ways to raise more revenue as it contends with its largest deficit ...



To read the full article log in. To learn more about a subscription click here.