Lest we forget, newspapers+magazines get state subsidy in shape of 20% VAT exemption, whereas digital media is full rate. Is that fair?
@paullomax @psmith A subsidy, as the OED states, requires the transfer of a "sum of money". Not taxing something isn't a subsidy.
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@bazzacollins@paullomax In any case it's £600M a year publishers and/or their consumers aren't paying. -
@psmith@Paullomax That's a ridiculous argument. That's like saying Gov isn't getting £650bn from Tesco not applying VAT to food. -
@bazzacollins@psmith Difference is most of the stuff you make food out of is zero rated too. -
@paullomax@psmith Newspapers/mags not taxed because it was (rightly) viewed as a tax on knowledge. -
@bazzacollins@paullomax I'm all against not taxing knowledge. Just wish digital products were charged at the same rate.
End of conversation
New conversation -
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@bazzacollins@psmith We claim back the VAT of goods & services consumed then don’t charge any at end. That’s a transfer of a sum of money,Thanks. Twitter will use this to make your timeline better. UndoUndo
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