eBay moving from the UK to Luxembourg

eBay is moving its tax base from the UK to Luxembourg.

Reason? Cheaper VAT rates. The Luxembourg standard VAT rate is 15 per cent, while the UK's is 17.5 per cent.

Not much, perhaps, but who can blame them?

The Fisherman believes that we are only at the beginning of a tax exodus, with Luxembourg benefiting at the UK's expense. We have highlighted this before.