- The Finance Ministry plans to impose a consumption tax on low-cost imported goods priced at ¥10,000 or less.
- The current de minimis rule exempts these goods from tariffs and taxes.
- The change aims to address increased sales from Chinese e-commerce sites and ensure fair competition.
- Other countries are also revising their de minimis rules, with the U.S. and Vietnam making changes.
- The ministry may implement changes during the next tax reform and require e-commerce sites to register and file taxes.
- Tariff exemptions will continue to avoid additional workloads.
- Japan currently exempts low-cost imports from tariffs and taxes, with significant import growth noted.
- Chinese e-commerce sites like Temu and Shein are leveraging the de minimis rule to increase sales.
- Domestic businesses express concern over the competitive threat from Chinese sites.
- Many countries are reducing or eliminating the de minimis rule to address tax system loopholes.
Source: asianews.network
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
