A “SMASH and grab” online shopping tax raid would kick-start a high street fightback, the Chancellor has been told.
Stores face near wipe-out if the imbalance with tech giants isn’t levelled by Rishi Sunak, campaigners warn.Rishi Sunak is bing urged to save the High Street by taxing AmazonCredit: Reuters Amazon's revenue reached £19billion last year after a 51 per cent increase
Urgent calls for change come after Amazon’s latest accounts show their UK revenues rose by 51 per cent to £19billion last year.
The US firm’s sales here are FIVE TIMES bigger than Next and double Marks and Spencer’s.
Ministers announced last year that they were reviewing business rates and they will consider the case for the online sales tax, which would raise cash in the wake of the pandemic.
Tory MP Duncan Baker said: “A levy smash and grab raid of two per cent could be paid.
“Amazon are ever increasing their share with £1 in every £20 spent in retail going to the firm.”
Labour’s Bridget Phillipson, Shadow Chief Secretary to the Treasury, said: “We need to see action for a level playing field on tax between online and bricks and mortar shops.”
The Treasury said: “Our business rates review asked if we should shift the balance between online and physical shops with an online sales tax. We’re considering responses now.”
Amazon say they made a total tax contribution of £1.1 billion in 2019 and created 10,000 new jobs last year, bringing their total workforce to more than 40,000.
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