France Imposes Measures to Eradicate VAT Fraud
The Minister of Actions and Public Accounts, Gerald Darmanin, will announce a set of measures to contain the loss of tax revenue at the Senate today. The shortfall on VAT in France is estimated to be 20 billion euro s according to the European Commission. France will take advantage of the autumn budget texts to transpose a European directive on e-commerce to be implemented by 2021. The text was initially adopted by the European states back in 2017with its aim to adopt tax rules to the explosion of e-commerce due to a revenue loss of public finances and tax disparity
France Launches a Digital Service Tax
On May 21, 2019, The French Senate presented a law project for the creation of a tax on Digital services. The new Digital Service Tax is aimed at large corporations in the digital sector whose taxable turnover exceeds 750 million Euros, and 25 million Euros for those that are provided in France. A digital service can be defined as something that allows users to communicate with each other over a digital platform that enables them to exchange goods or services such as online market place like Amazon and eBay. This also applies to advertisements that appear on a digital interface. The Digital Service Tax only applies to businesses where the end user is located in France. The new Digital Service Tax is subject to 3%.
ReBuy Expands to Italy and Spain
Berlin-based online market platform ReBuy has expanded its services to Europe. ReBuy is an online platform used for selling and buying refurbished electronic goods such as smartphones, laptops, game consoles, tablets and more. The company initially ran its online platform in Germany, UK, France, Austria and Netherlands and has now recently launched two new online stores in Spain and Italy.
Ceo Torsten Schero says, “The launch of our online store in two growth markets of Italy and Spain is another step in our ambition to become the leading e-commerce company in Europe for used electronics”
E-Commerce: Number Of Online Shoppers In Hungary Has Increased To 5.4 million
According to a survey conducted by research firm eNet, almost 5.4 million people in Hungary shopped online at least once in the past 12 months. Since the last survey which took place in May 2017, this is an increase of 800,000 online shoppers. In relation to there being 5.4 million people who have shopped online in the last twelve months, this means that 91% of adult internet users in Hungary made an online purchase recently. E-Commerce in Hungary currently accounts for 4.5% of the country’s total retail sales. The research has also demonstrated that during online shopping 1 in 2 people (51%) prefer to pay with non-cash, while 19% prefer to pay with cash. 30% of shoppers prefer to pay with both
E-Commerce: Manchester-based Agency Nublue Partners with German E-Commerce Giant Shopware
E-Commerce web design agency Nublue have teamed up with Shopware to offer the online marketplace valuable expertise in order to improve their services. Nublue’s plan is to benefit Shopware’s customers, the online retailers selling on Shopware and they also hope to widen their own eCommerce platform portfolio to fulfil a wider range of customer requirements. Max Büscher, key account manager for Shopware, has said, “We are very pleased that we can offer our clients Nublue’s expertise with high-performance system environments and flexible infrastructures. Together with Nublue, we can guarantee that online retailers are on solid ground when it comes to creating their perfect eCommerce solution.
Tax: Denmark Left Out Of Pocket Due To Technical Issues at Tax Authority
Due to several years of technical problems at Danish tax authority Skat, the tax authority is now greatly in debt to the state of Denmark. The overall debt that Skat owes totals at 117 billion kroner. Economics professor at Aalborg University, Per Nikolaj Buch, has said that the figures are “damaging for citizens’ sense of justice”. According to an estimate made by Skat, the 117 billion kroner cannot be recovered, due to individuals being too poor to pay or not paying because the debts are tied to companies that are bankrupt
Coop Converts Microspot into an Online Department Store
Switzerland’s electronic department store Microspot converted its business from a physical retail outlet to an online department store in May and now sells a broad assortment. Microspot is the third Swiss electronic retailer to turn its brick and mortar business into an online department store following rival Brack.ch. Due to the collapse of Coops previous project with Siroop back in April 2018 which was meant to rival Amazon, the business has been working hard in silence expanding where they added created new product categories and employed around 100 new employees.
CEO Pierre Wenger states that the goal is to grow twice as fast as the market, with the target being an annual growth of about 20 percent.
Amazon launches its first ever aircraft
Amazon launched it’s first-ever cargo plane on Friday, one of a fleet of 40 to be rolled out which will give the business full control of its delivery network. The aircraft named Amazon One was revealed behind closed doors on Thursday and was officially showcased to the public on Friday with a flyover at the Seafair Air Show in Seattle, the company’s home time. Amazon has managed its air deliveries since 2015, whereby leasing ten dedicating planes to help the transportation of goods. However, this is the first ever plane to be branded in Amazon colours.
Dave Clark, Senior Vice President of Worldwide operations says that having an air transportation network will ensure excellent delivery speed for Prime customers for many years to come.