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1. The Economic Impact of an Online Retail Sales Tax in the UK

Author:
Oxford Economics
Publication Date:
11-2021
Content Type:
Working Paper
Institution:
Oxford Economics
Abstract:
Amazon have commissioned Oxford Economics to produce an independent quantitative assessment of the economic implications of the introduction of an online sales tax in the UK. On 27 July 2020, HM Treasury (HMT) announced a call for evidence around the issue of a business rates review. Contained within this document was a consideration of alternative tax bases that could raise revenue for the Exchequer to compensate for any shortfall that might be created by business rates reform. One of the options proposed was an online sales tax (OST). In this context, Amazon have commissioned Oxford Economics to produce an independent quantitative assessment of the economic implications of the introduction of such a tax in the UK. We find that that the introduction of an OST would raise around £1.6 billion in government revenue. The burden of the tax would be split between consumers, online sales platforms, and upstream businesses. Our analysis shows that a majority of the tax’s burden will most likely be borne by consumers who could lose around £1.3 billion in welfare terms. The net inefficiencies due to the OST are estimated to be around £200 million (i.e., 13% of the revenue). The government’s fiscal options will need to be assessed against a range of economic as well as procedural criteria. In our assessment of the OST against the Treasury Select Committee’s principles of taxation, we found that the OST is distortive and also could potentially restrict SMEs from competing in the retail market. Further, the disproportionate impact on households in the lowest income decile and on economically weaker regions of the UK as well as the restrictive effect on the elderly and the disabled raise questions about the fairness of the OST.
Topic:
Economics, Digital Economy, Retail, and Digitalization
Political Geography:
United Kingdom and Europe

2. Understanding the Nature of Local-Global Interactions in Istanbul’s Retail Property Market

Author:
Fatih Eren
Publication Date:
07-2014
Content Type:
Journal Article
Journal:
The Rest: Journal of Politics and Development
Institution:
Centre for Strategic Research and Analysis (CESRAN)
Abstract:
Today, capital, people and information flows have increased more than ever before among different regions in the world. Every flow creates a different local-global interaction in its own social environment. One of social environments in which this kind of interactions occurs is property markets. There are some theories to explain the nature of local and global interactions in social sciences literature. However, the success of these theories in explaining the nature of local-global interactions in a property market became subject to a research very few. This research aims to make a contribution to this area. The study also intends to find general answers to some important questions emerge in the internationalization process of property markets. The study focuses on the three well-accepted interaction theories of social sciences, which are imperialism, globalisation and glocalisation. The validity of the assumptions of these theories in the case of Istanbul’s retail property market is questioned in this research. The emergence of social structures and the specific behaviours of these structures in local property markets may be understood better when true point of view is found out about interactions. A qualitative methodology is followed; interview and document analysis methods are used in the study. Findings show that the nature of local-global interactions experienced in Istanbul’s retail property market is very unique so it is not possible to explain t
Topic:
Globalization, Imperialism, Housing, and Retail
Political Geography:
Europe, Turkey, Asia, and Istanbul