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A comment on Amazon UK pays corporation tax for first time since 2020. Parent comment

Re:Amazon UK pays corporation tax for first time since 2020 by A_D_E_P_T on Tuesday October 01, 2024 @10:12AM (#41708714)
I don't think he's thought it through. It would kill more than 50% of businesses.

Besides, the state typically does take a cut of every transaction, in VAT or sales tax. This holds true even in the UK, and it's 20% which is close to the corporate tax rate on profits at 25%.

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Re:Amazon UK pays corporation tax for first time since 2020 by orwin on Tuesday October 01, 2024 @11:24AM (#41709633)
> Besides, the state typically does take a cut of every transaction, in VAT or sales tax.

What are sales taxes? Because VAT is only applied to the final transaction. VAT fraud is probably the most common tax fraud because of its availability for anyone without morality who own a business (or is close to a business owner), as it's easy to write off VAT.

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Re:Amazon UK pays corporation tax for first time since 2020 by rcxdude on Tuesday October 01, 2024 @10:18AM (#41708803)
It takes a cut of every consumer transaction. Businesses don't pay VAT on their materials for the products they sell.
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