Submitted on Sunday 2nd February 2014
Published on Friday 7th February 2014
Current status: Closed
Closed: Saturday 7th February 2015
Signatures: 4
Tagged with
Economy ~ supply chains ~ Tax ~ UK ~ UK economy
Reduce the VAT rate for actual stores so they can compete with tax-avoiding online retailers.
It's hardly news that retail is one of the key pillars of the UK economy; we're seeing our stores close, staff made redundant and high streets empty.
Why?
Put simply, they can't compete with the likes of Amazon. That's because it's far easier for an online entity to avoid tax, quite often by elaborate tax avoidance measures or offshore tax havens.
Physical stores don't just employ the staff you see in the store, but supply chains, commercial teams, merchandising teams, marketing teams and facilities teams to name but a few.
One small store could have hundreds of jobs indirectly linked to it, ranging from couriers to electricians.
By reducing the VAT rate to 15% only for physical stores, it would increase sales at such stores, increase employment, increase corporation tax contributions as well as PAYE contributions.
You can't sign this petition because it is now closed. But you can still comment on it here at Repetition.me!
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