A group of British retailers urged the ministers to follow Donald Trump’s progress in canceling a tax vulnerability that allows Chinese e -commerce platforms such as Shein and Temu to avoid customs duties.
He argues prominent characters including Theo Paf inflammation, Julian Dunkercton, Toyki Soliman and Harold Telman that the current “minimum” base gives foreign companies an unfair advantage.
In the United States, President Trump has been devoted to a similar exemption for less than $ 800 of import fees. The British threshold of 135 pounds sterling means that Shein and TEMU do not pay any customs fees on small shipments, says retailers in the UK that depriving the Treasury Department of vital revenues and undermining local companies.
Theo Paphitis, the owner of Boux Avenue, Ryman and Robert Dyas, warns of continuing to allow external companies a skirt that may be a “suicide” for the retail sector in the United Kingdom. Julian Dancurs, co -founder of Superdry, believes that Trump’s approach is the right step, while Touker Soleyman, the owner of Gieives & Hawkes, praises the American president because of the “courage” to address this issue.
Shen Shane is said to think about the London Stock Exchange of 50 billion pounds, a step that can boost markets in the UK and make significant investments. However, the Paphitis meters that can be overwhelmed by any benefit from such a list by the “billions” that were lost to HM Reseenue & Customs and pressure on the high British streets.
The Treasury confirms that the current system aims to achieve the right balance: although goods that reach 135 pounds from abroad do not attract customs duties, they still bear the value -added tax with the same rate of local elements. However, many retailers, including Mark Ashton, founder of Little Mistress, believe that the UK “loses millions of tax revenues” that can be re -invested in the economy. They are calling for reforms to create a level stadium and ensure that local retailers remain competing.