U.K. Politicians Take on Amazon and eBay Over Tax Fraud
A parliamentary report has criticized the companies for not doing enough to prevent online fraud on their sites.
U.K. politicians have hit out at Amazon (AMZN) - Get Report and eBay (EBAY) - Get Report over the issue of preventing tax fraud on their websites.
A parliamentary report has criticised the two internet companies and recommended that the government holds the two websites responsible for any tax lost because of fraudulent activity.
The National Audit Office has claimed he U.K. is losing up to $1.3 billion (£1 billion) a year due to fraud on eBay and Amazon.
Meg Hillier, Chair of the Public Accounts Committee, said "These people are profiting from VAT fraud, because they still take their commission."
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