Corporate Tax Partner Mark Tan Featured in Apparel Insider and Drapers discussing claims Shein have been dodging import duty tax
It has recently been alleged that Shein, the China based, fast fashion company has been benefiting from an import duty tax exemption “loophole” which means UK import duty is not charged on goods worth less than £135, which are sent direct to its customers from overseas.
Julian Dunkerton, the founder and CEO of Superdry states that “the Chinese fast fashion retailer Shein, is being allowed to dodge tax” in the UK.
Commenting on this developing story in both Apparel Insider and Drapers, Spencer West Corporate Tax Partner, Mark Tan states that Dunkertons comment were “a bold statement” adding that, “without a deep understanding of Shein’s business model, it’s difficult to make specific claims about its tax practices.”
Mark believes that businesses should be taxed fairly in jurisdictions that they operate in. In the UK, Shein should and will be taxed. It is not correct to make sweeping claims especially when two businesses have different fundamentals to start with.
Read the full articles here:
Apparel Insider: https://apparelinsider.com/superdry-claims-shein-benefits-from-tax-avoidance/
