Sales Levy: Business Rates and Sales Slide

sales levy: Tesco says the government could use that revenue to fund a 20% cut in business rates for all bricks-and-mortar retailers, according to The Guardian. It says small businesses could be exempted from the online sales levy. Sainsbury's sales slide as Aldi continues rapid growth Read more The supermarket suggests the government could raise 1.5bn via an online sales levy of 2% on physical goods, as defined by existing VAT regulations. There is overwhelming evidence that the business rates system is not equitable and is damaging investment and growth, Tesco said in its submission. In 2015, he warned against a lethal cocktail of 14bn in extra costs over five years from an increase in business rates and the introduction of the national living wage and apprenticeship levy. We believe action must be taken to avoid prolonging an anachronistic tax that has not materially changed since 1988 and is damaging communities across the UK. Tesco's written evidence ramps up a campaign for change led by its chief executive, Dave Lewis, who first called for an Amazon tax last year. (news.financializer.com). As reported in the news.