A new nostalgia tax on online business would be a step backwards - News Summed Up

A new nostalgia tax on online business would be a step backwards


Shoppers are deserting them and retailers are blaming the plague of ecommerce. Chains from John Lewis to Marks & Spencer are closing stores, while many, such as HMV, seek urgent rescue from digital-induced oblivion. The answer, according to some retailers and politicians, is a digital sales tax. Dave Lewis, the Tesco boss, has suggested a 2 per cent levy on web sales; other, more desperate players, have called for a 20 per cent tax on companies generating more than 20 per cent of sales online. In reality, a digital sales tax is simply a nostalgia tax, an attempt to turn back the clock by those who have missed the ecommerce revolution slowly unfolding before their eyes since the…


Source: The Times March 11, 2019 00:03 UTC



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