Submitted on Tuesday 19th June 2018
Published on Monday 25th June 2018
Current status: Closed
Closed: Tuesday 25th December 2018
Signatures: 8
Introduce retail transaction tax and abolish retailers’ business rates
Internet based companies have an unfair competitive advantage over traditional bricks and mortar retailers who have to pay business rates. This disproportionate cost is contributing towards the demise and failure of the local high street. Help redress the imbalance for all retailers.
A 0.5% retail business rate tax on each sales transaction value rather than property space would be a fairer arrangement and would be directly linked to the business’s success rather than the cause of its failure.
Since most sales transactions for online and high street retailers are by credit card, the collection mechanism is already in place. The credit card holder’s physical location (in-store) or credit card address (online) are readily available for re-allocation to the local authorities.
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