Amazon Faces Pressure to Pay Fair Share of Taxation
- Booksellers Association demands taxation overhaul for Amazon and other online retailers
- BA claims Amazon has caused numerous bookshops to close
- Number of UK bookshops halved since Amazon’s launch 20 years ago
- 75 key retail associations submit letters to parliamentary inquiry
- Parliamentary inquiry on high street struggles scheduled for Monday
The Booksellers Association (BA) has called for Amazon and other online retailers to be given a taxation overhaul, after it claimed “bookshops have closed because of Amazon”. MPs were warned by the association that Amazon was “putting numerous competitors out of business” and demanded “large scale internet retailers pay a proper share of taxation” during a parliamentary inquiry into the role of the high street. The BA said that it had seen the number of UK bookshops halve to 858 since the British launch of Amazon 20 years ago. As many as 75 key retail associations have submitted letters to the hearing in which the majority blame consumers choosing internet home shopping over a visit to the high street. The parliamentary inquiry has its first hearing scheduled for Monday. The British Property Federation (BPF) told the inquiry that the government needed to take high street struggles more seriously. The BPF’s submission said: “This inquiry seeks to establish what our high streets will look like in 2030. It is difficult to look at such a long-time horizon but what we can say with some certainty is most will look awful long before then if the status quo is maintained.”
Factuality Level: 8
Factuality Justification: The article presents factual information about the Booksellers Association’s call for a taxation overhaul on Amazon and other online retailers, the decline in the number of UK bookshops since Amazon’s launch, and the parliamentary inquiry into high street struggles. However, it lacks specific details or data to support the claims made by the BA and BPF about the impact of Amazon on competitors and the future of high streets.
Noise Level: 4
Noise Justification: The article provides relevant information about the impact of Amazon on traditional bookshops and mentions a parliamentary inquiry into the issue. However, it lacks detailed analysis or solutions to the problem.
Financial Relevance: Yes
Financial Markets Impacted: Book retailing industry and potentially other industries affected by online competition
Financial Rating Justification: The article discusses the impact of Amazon’s online presence on traditional bookshops, which is related to financial topics such as taxation and business competition. It also mentions a parliamentary inquiry into high street struggles, which could affect various retail sectors.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article.
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