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Digital purchases set to carry VAT

Accountancy Age

DIGITAL DOWNLOADS are set to attract VAT as the government seeks to prevent tax leakage caused by vendors paying local rates in lower-tax jurisdictions. Currently, businesses such as Apple and Amazon sell virtual goods such as music, e-books and apps through offices based in Luxembourg and other low-tax areas, where they are taxed at local rates – in Luxembourg’s case, at 3%. Under the new rules, set to be introduced in…

Read more here: Accountancy Age

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