Chancellor announces new laws making sure internet downloads are taxed in the country where they are purchasedGeorge Osborne's latest budget could spell an end to 99p song downloads by closing a tax loophole that meant consumers were paying VAT at very low foreign rates on online purchases of books, music and apps.The chancellor will bring in new laws making sure that internet downloads are taxed in the country where they are purchased, meaning web firms such as Amazon and Apple will have to charge the UK's 20% rate of VAT. At the moment they are allowed to sell digital downloads through countries such as Luxembourg, where the tax rate is as low as 3%.In a little-noticed announcement, Osborne said he would used this year's finance bill to impose the new law from 1 January 2015.The budget document said: "As announced at budget 2013, the government will legislate to change the rules for the taxation of intra-EU business to consumer supplies of telecommunications, broadcasting and e-services. From 1 January 2015 these services will be taxed in the member state in which the consumer is located, ensuring these are taxed fairly and helping to protect revenue."Official estimates suggest the move could raise an extra £300m for the Treasury. Online retailers could pass on those costs to consumers in the form of higher prices.Research by Greenwich Consulting previously has suggested Britain could have financed the Olympic Games from the VAT it will have lost on the sales of digital... Continue reading at 'The Guardian'
[ The Guardian | 2014-03-23 00:00:00 UTC ]
The problem with studying the universe around us is that it is simply too big. The stars overhead remain too far away to interact with directly, so we are relegated to testing our theories on the formation of the galaxies based on observable data. Simulating these celestial bodies on computers... Continue reading at Engadget
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Sorry to Kindle loyalists: people who read paper books tend to be more advanced readers, according to a recent study of the reading habits of thousands of teens around the world. The study, conducted by the Organization for Economic Cooperation and Development, looked at the way teenagers in 30... Continue reading at Literrary Hub
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Publisher Scholastic says it will no longer distribute The Adventures of Ook and Gluk: Kung-Fu Cavemen from the FutureCaptain Underpants author Dav Pilkey has apologised for “harmful racial stereotypes and passively racist imagery” in one of his graphic novels for children, which has been... Continue reading at The Guardian
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We must redefine Facebook as a publisher and not a platform so it bears responsibility for its content, says Pam Rudd. Tobacco was once ubiquitous yet many managed to quit, says Bob Walsh. We must view social media the same wayI do not believe we need to rewrite most of our regulation to... Continue reading at The Guardian
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Herald Sun newspaper’s depiction of player ‘spitting the dummy’ at US Open had been widely condemnedA Herald Sun cartoon that depicted Serena Williams jumping in the air and “spitting the dummy” after losing a match to Naomi Osaka was not racist, the Press Council has found.The News Corp cartoon... Continue reading at The Guardian
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Altmetric, the scholarly research data science company, is to undertake a pilot project with The Organisation for Economic Cooperation and Development (OECD), to track the impact of materials in the OECD iLibrary. Continue reading at The Bookseller
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Chancellor announces new laws making sure internet downloads are taxed in the country where they are purchasedGeorge Osborne's latest budget could spell an end to 99p song downloads by closing a tax loophole that meant consumers were paying VAT at very low foreign rates on online purchases of... Continue reading at The Guardian
[ The Guardian | 2014-03-23 00:00:00 UTC ]
More news stories like this