Brazil plans 'digital tax' on shipments from e-commerce giants -minister

SAO PAULO/BRASILIA :Brazil's finance minister said on Thursday the country would implement a"digital tax" on shipments from e-commerce giants, after backtracking earlier this week from a decision to tax individual-to-individual shipments of up to $50.

The move comes after President Luiz Inacio Lula da Silva asked his economic team not to proceed with a previously planned ending to tax exemptions for international orders from individuals.According to a source at the Finance Ministry, the proposed measure will not involve creating a new tax, but instead adopting an improved collection system. The source emphasized that the tax in question already exists and will be collected electronically prior to the shipment of goods.

Alibaba Group's AliExpress, Sea Ltd-owned Shopee and Shein were seen as the main targets of the measure.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Brazil mulls 'digital tax' on shipments from e-commerce giants -ministerSAO PAULO : Brazil's finance minister said on Thursday the country would implement a new 'digital tax' on shipments from e-commerce giants, after backtracking earlier this week from a decision to tax individual-to-individual shipments of up to $50.'We will follow the example of developed nations, a digita
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »