SA loses R3,5 billion from online retailers including Shein and Temu: Donald MacKay

The SA Revenue Service announced last month that it would apply new rules to both Shein and Temu as of the 1st of July 2024, allowing parcels brought in by the Chinese retailers to be taxed the same as local clothing at 45% plus VAT. SARS Commissioner Edward Kieswetter said they would continue to clamp down on these retailers as the amount of tax losses they have incurred amount to R3.5 billion. For more on this let's welcome Mr Donald MacKay, CEO at XA Global Trade Advisors. For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.