Quote:
Originally Posted by pdurrant
This is just wrong. VAT bill due from amy business is precisely the difference between the amount of VAT collected from sales, and the amount of VAT paid out in purchases. It has nothing to do with corporation tax, which is a tax on profits.
|
i understand that,. I could not find amazon's VAT figures so I used Corp tax as a proxy.- to illustrate what tiny proportions of their business figures get allocated to UK.
VAT avoidance via creative accounting is an art form in Europe ( and a $50Bn bonanza for fraudsters) *
I bet amazon pay next to no vat. They will have lots of UK VAT receipted purchases ( warehouses, fork lift trucks) but hardly any sales because those are booked via off shore entities.
check the small print on your last amazon invoice for which entity sold you that item.
* your average UK self employed/small business man knows how its done, VAT receipts for the car, the wife's car, all the tools, petrol...then x% of work done for cash in hand. VAT returns show a tasty annual refund due...
The first thing most householders ask tradesmen, after seeing a quote, is " how much for cash"
old data but 1st quote I found:
HMRC has estimated that UK taxpayers have lost £1bn-£1.5bn in 2015-16 as a result of VAT fraud,