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The end could be near for tax-free shopping. This January, the Ministry of Finance rolled out a tax exemption for imported online purchases worth less than NT$2,000. Since January, Taiwan has seen a massive loss in tax revenue, and it's prompting finance officials to reassess the short-lived exemption.
The convenience of the web, plus Taiwan's generous duty-free policy, have drummed up over NT$100 million in e-commerce business opportunities each year.
Currently, cross-border online purchases are exempt from tax if they're worth less than NT$2,000 each, and if the shopper places no more than six orders per half year.
Implemented only at the beginning of the year, this measure has caused the number of orders to soar to over 130,000. Also rising are issues of unfair competition, tax evasion, and the massive loss of tax revenue.
The Organisation for Economic Co-operation and Development recently recommended that countries scrap such tax exemptions. Australia and Sweden have responded to the call. Will Taiwan follow?
We just implemented our duty free system for low-cost imported cargo on January 1st of this year, and we're currently carrying out this system. The public can still enjoy the duty-free measure on goods valued at less than NT$2,000.
The Ministry of Finance says that the tax exemption stays - at least for now. But on Friday, the ministry will hold a meeting to reassess the customs clearance system for cross-border e-commerce.
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Source: Formosa English News : https://englishnews.ftv.com.tw/read.aspx?sno=C3126119718D407ED67B99E029AB278E&fbclid=IwAR2o-1s2hJWVs3pjMwpE2MBosI_C74VGya97R4W9_xRWiNrC4pFtApVr6HQ
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