Wednesday, March 21, 2012

Ebooks VAT should be slashed to zero in 2012 budget, say publishers. From @guardian

Publishers are calling on the government to "urgently" reduce the 20% value added tax rate currently applied to ebooks in the UK, as the digital books market experiences "exponential" growth.
Ahead of this afternoon's budget statement, the Publishers Associationhas made representations to Chancellor George Osborne arguing that the rate of VAT on ebooks, which stands at 20%, should be reduced to the zero-rating of print books. Publishers believe ebooks and print books should be treated the same when it comes to VAT, as both deliver the same "educational, cultural and social benefits". They say that "urgent action" is required to reduce ebook VAT rates as the digital market experiences a rapid pace of development and sales that "continue to grow exponentially".

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