One of the bizarrest stories that I came across this week was a new law by the British government that forces goods sent from the Channel Islands to pay full V.A.T. rather than the reduced level they were previously paying thanks to a loophole in the law that stated that low value goods were exempt from tax- a throwback to the days when lowly island merchants needed support in maintaining business. However in recent years online shopping giants had set up bases on these islands to sell their goods and were making a tidy profit. The news has been welcomed by many retailers and the government who will claim much needed tax revenue , the news has not been welcomed by the islanders and the online shopping companies.
Sources
www.Theretailbullein.com
up to date views and analysis on the business world- primarily focusing on retail industry
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