UK finance minister Healey to target online marketplaces in tax crackdown, The Times reports

By Reuters News

Oct 13 (Reuters) - UK finance minister John Healey is expected to announce that online marketplaces such as Amazon.com AMZN.O, eBay EBAY.O and Temu PDD.O will be made responsible for collecting tax owed by retailers selling on their platforms, The Times reported on Tuesday.

The move is expected to raise up to £1 billion ($1.33 billion) for the Treasury, the report added.

The Treasury declined to comment, saying decisions on tax are a matter for Healey to set out at fiscal events. Amazon, eBay, and Temu did not immediately respond to requests for comment.

($1 = 0.7544 pounds)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.