Split payment for online sales
Posted by mostafa on 27 March, 2018
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This item was filled under Tax
The government is consulting on how a split payment system could be used to combat online VAT fraud. This would use payments industry technology to collect VAT on online sales and transfer it directly to HMRC.
The government considers that the merchant acquirer is likely to best placed to effect the split of VAT from the gross payment. Card issuers or …