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 addedtaxrate currently applied toebooksin the UK, as the digital books market experiences "exponential" growth.
Ahead of this afternoon'sbudgetstatement, thePublishers Associationhas made representations to ChancellorGeorge Osbornearguing 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".