UK could be adding a 'sales tax' on online purchases to pay for COVID costs

The UK could be set to add an online ‘sales tax’ to pay for the Covid pandemic

Shoppers may have to pay more for items bought online under plans for a tax that could be introduced in the Budget, a minister warned yesterday.

Jesse Norman, Financial Secretary to the Treasury, said an online sales tax is a possibility as Chancellor Rishi Sunak tries to raise money to pay off the UK’s pandemic debt pile.

‘When we thought about business rates in the recent consultation, we touched on the idea of an online sales tax and just put that out there for discussion and evaluation and we’re still reflecting on that,’ he told MPs.

The tax is set to cause an uproar in both the consumer and business sectors in the UK if it goes ahead.

Consumers could find themselves paying an extra 2% on online purchases for the convenience of purchasing online.

As the UK looks to find a way to raise funds to earn back to the public coffers – targeting the consumer seems to be the plan.

Whilst UK shoppers have turned heavily to the internet for purchases during the pandemic whilst town centers continue to suffer – the government feels that businesses who avoid the large overheads of high street stores should be targetted for extra tax.

The added online tax is reported will earn the government an extra 2 billion pounds a year, whilst driving up prices for the consumer.

 


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