UK Government Looking To Apply 20% VAT To Digital Downloads

UK Government Looking To Apply 20% VAT To Digital DownloadsFor the most part, Apple’s iTunes App Store downloads are more or less valued the same based on the price of $0.99. Of course there will be differences due to the currency conversion, but for the most part they remain somewhat affordable. However it seems that in the UK, there is a chance that UK iTunes App Store users could face a price hike of 20% which is basically the country’s “value added tax”.

Why is this? Well at the moment app stores like those by Apple and Amazon currently exploit a tax loophole which allows digital downloads, like apps, music, and books to be downloaded and bought without having to pay the 20% VAT, which in turn allows them to pay much lower international tax rates. (more…)

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