Home | Make You Homepage | E-mail  
Home|About Us|Products|News center|Application|Sales Service|Online video|Send Inquiry|Contact us
About us
About Us
Customer's Training

Contact us

Kylin Int’l Machinery Limited
Address: 19#, Haoxin street, nanchen village, daojiao town, dongguan city. Guangdong province  China.
E-mail: jacob#kylinmachinery.com

Contact: Jacob

Your Location:Home > News > News
Moonpig to lose VAT relief under new legislation

Online greetings cards retailers such as Moonpig and Funky Pigeon will be hit by new legislation that will end tax exemption for companies operating from the Channel Islands.

Companies will no longer be able to benefit from Low Value Consignment Relief from 1 April 2012, the government has confirmed.

The tax loophole, which gives relief on products such as DVDs and greetings cards up to £15, comes at a cost to the government of £140m per annum.

According to government ministers, the ending the "exploitation" of rules by an increasing number of businesses will increase the level of fairness for UK businesses.

Moonpig, which was acquired by Photobox in a £120m deal earlier this year, has been a print success story, producing personalised cards from its Guernsey facility.

However the company was unable to comment at the time of writing.

Greetings cards rival Funky Pigeon, which is owned by WHSmith, is currently in the process of setting up a new facility in Guernsey but it is unclear how the new legislation will affect its business.

Exchequer secretary to the treasury David Gauke said: "These reforms will ensure that UK companies, especially small and medium-sized enterprises, can compete on a level playing field with those larger companies with the resources to set up operations in the Channel Islands.

"By making these changes, we are striking the best possible balance between the costs of collecting small amounts of VAT and protecting the interests of UK taxpayers and businesses."

| 发布时间:2011.11.16    来源:    查看次数:789
Copyright (2016) kylin machinery.com Kylin Int'l Machinery Limited All Rights Reserved.
Address: 19#, Haoxin street, nanchen village, daojiao town, dongguan city. Guangdong province  China.
New website: Book binding machine in china
Tel:+86-13650165734  E-mail: jacob#kylinmachinery.com
Paper bag machine in china case making machine bookbinding machine glue machine book cover making machine rigid boxes machine turning in machine glueing machine setup boxes slipcase maker

site map: sitemap.html sitemap.map