Market leading insight for tax experts
View online issue

eBay pays extra £7m following HMRC investigation

printer Mail

According to press reports, eBay has agreed to pay an extra £7.15m in a settlement with HMRC following a transfer pricing review for the period ended 31 December 2017. Before the adjustment, the company paid £6m in UK corporation tax.

During this period the eBay’s revenues in the UK grew from £200m to £585m, while profits increased from £7.6m to £20m. In 2016, eBay paid £1.6m in UK corporation tax.

eBay EMEA was one of the first online marketplaces to sign up to HMRC’s new cooperation agreement, launched in April, to provide certain information about their sellers in the interests of promoting VAT compliance.

Issue: 1417
Categories: News