Sainsbury's boss calls on UK introduction of online retail tax
Sainsbury’s boss Justin King has called on the British Government to introduce an online retailers tax similar to that introduced by the US.
Having revealed the latest results for the supermarket chain, King called on the UK to follow the lead being set in the US with the introduction of the Marketplace Fairness Act of 2013 where online retailers will pay tax on the good they sell, which will level the playing field with high-street retailers.
“The burden of taxation falls very heavily on bricks and mortar retailers,” Mr King said of business rates, The Telegraph reports. “I think we need to rebalance the tax burden.”
However, questions have been raised in the US about how the tax for online goods will be collected when each transaction is made.
Yesterday, Sainsbury’s revealed a sales growth rate of 3.6 per cent.