China is relieving import tax on online retailers
China is changing the regulations related to tax on imported goods that are sold online. The government will remove the ‘parcel tax’; previously applied to imports sold online, and replace it by VAT and consumption duties, but with a 30% discount. The move would make online imported products cheaper for Chinese consumers. The cosmetics sector is expected to be the biggest beneficiary of the tax adjustment, as beauty products are among the most popular categories of imports by China’s online shoppers.