May 19, 2022
M&S warns online sales tax will damage High Street
Marks & Spencer has written to the chancellor warning that an online sales tax would damage the High Street. M&S believes a new online tax would "Punish" the very retailers it plans to support and leave them less money to invest in High Street stores. "Introducing an additional tax on retail - already overburdened - will simply mean retailers cut their cloth accordingly," he said. The Treasury has been sounding out the retail industry on an online sales tax since February saying it is keen to hear the arguments for and against, as well as how it could work. According to the consultation document, an online sales tax of 1% could raise about a billion pounds per year to help reduce business rates in England.
Related companies
Make a complaint about Marks & Spencer by viewing their customer service contacts.
