介绍:
New tax rules are now in effect this Friday on goods imported online in China.
Online purchases of overseas retail items are no longer classified as parcels, which enjoy a lower tax rate.
They are now being taxed the same as any other imported goods.
Zhang Bin, director Chinese Academy of Social Sciences Tax Institute, says the new policy simply levels the playing field for brick-and-mortar retailers in China.
"A domestic retailer has to pay 17 percent in added-value taxes. But a retailer who imported their goods online only had to pay 10 percent. That wasn't fair. The new policy is just creating a level playing field."
The new policy is aimed mostly at retailers in China.
Individuals who buy online products overseas will still pay lower taxes on individual purchases, provided they don't spend over 20-thousand yuan a year.
Purchases beyond that will be taxed in-full.
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