Business: Amazon Cause Uproar after Investing In Food Delivery Service Deliveroo
E-Commerce giant Amazon has caused a stir after investing $575 million in UK-based food delivery service Deliveroo. Unsettlement has arisen as a result of the fact that it is not certain what Amazon plan to do with their new partnership with Deliveroo – analysts have speculated that the investment could potentially lead to a complete takeover by Amazon. The investment means that the total amount of cash raised by Deliveroo now totals at $1.5 billion. Despite the controversy, the food delivery company’s owner, Will Shu, has described Amazon as an “inspiration” and has said that Deliveroo “look forward to working with such a customer-obsessed organisation.”
E-Commerce: Sustainable Shopping Platform Loop Launches In France
Loop, a sustainable e-commerce service which was created by recycling giant TerraCycle, has launched in France. The platform sells all of its products in multi-use containers and its purpose is to reduce the amount of waste from packaging. A number of major manufacturers have already partnered with Loop, and these include Unilever, Procter & Gamble, Coca-Cola and Pepsi. The process of ordering with Loop also helps consumers to become more sustainable, as the products are delivered to customers in containers made of sustainable materials, and then when the containers are empty customers can have them picked up and replenished.
VAT: Switzerland to Relax VAT Compliance Rules For Non-Resident Taxpayers
The Swiss Federal Tax Authority is planning on loosening the current rules imposed on foreign taxpayers who register for VAT in Switzerland. Currently, non-resident businesses that pass the income threshold of CHF 100,000 and provide taxable supplies in Switzerland are required to register for VAT in Switzerland. As part of the registration process, it is mandatory to provide all details relating to their global income. It is this rule that is going to be relaxed, and The Swiss Tax Authority are adjusting this requirement so that those registering for VAT only have to provide details of their Swiss earnings.