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CN Targets Tax Evasion by Sellers on Amazon and AliExpress: Wire
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For the first time ever, China's State Administration of Taxation has requested Amazon.com (AMZN.US) and other major e-commerce giants to submit sales data in a bid to crack down on tax evasion by merchants conducting cross-border transactions on online platforms, Bloomberg reported, citing sources. It is understood that China's tax watchdog has asked major e-commerce platforms to report 3Q income data for some Chinese merchants in recent months in order to curb the underreporting of sales. Amazon began providing data in mid-October, while Chinese companies, including Alibaba Group's AliExpress, Temu, and Shein, submitted data weeks ago. The authorities, however, haven't accused these platforms themselves of any wrongdoing. AAStocks Financial News |
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