UK launches VAT robot on eBay

Posted on Monday, May 29 2006 @ 12:22 CEST by Thomas De Maesschalck

The UK government has spend £250,000 on a web robot to hunt on high-volume eBay traders who don't pay taxes:

According to thisismoney.co.uk, the "robot" in question is an advanced search engine which pinpoints said rogue traders. HM Revenue & Customs (HMRC) estimates it will net £1m a year in extra VAT and "force an extra 20 businesses to register for the tax".

The figures add up thus: the National Audit Office (NAO) says VAT on ecommerce sales - which continue to rise inexorably - totalled in excess of £1bn during the 2005 to 2006 tax year. An estimated 70,000 people make a quarter of their income by trading on eBay.

More details over at The Register.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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