South Africa closes Tax Loophole for Shein, Temu, and Others
Shein and Temu feel pressure as a tax practice known as "de minimis" is ended in South Africa.
South Africa closes Tax Loophole for Shein, Temu, and Others
One of South Africa's Tax policy called "De Minimis" has been put to stop in the country. The tax policy is identified as a loophole that gives ways to foreign e-commerce companies like Temu and Shein to sell their cheap products in the country. Now, that De Minimis Tax Policy has been ended by the South African Revenue Service, foreign companies products have started seeing surge in prices, leading to consumers rejecting the higher prices. This is as well benefiting local retailers as consumers will revert back to locally made products. The South African's De Minimis Tax Policy is more like a President Donald Trump's tariffs which he imposed on almost all countries so that citizens can go back to home-made products. The idea is to impose border charges on foreign products coming into the country so that such products can have surge in prices. Related Articles: Temu and Shein implement ‘import charges’ after Trump tariffs . Temu ends importing products to U.S. amid tar…
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