Argos boss urges Starmer to crack down on Chinese tax loophole [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
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Source: Yahoo! Finance
Simon Roberts said urgent action must be taken to ensure “everyone is paying their tax wherever they're operating from”, increasing pressure on the Government to stop companies such as Shein and Temu profiting from the de minimis rule. He said: “If there's a loophole here, which means that's not happening, then that needs to be closed. If there is a loophole there, which there is today, we would strongly advocate that it is faced into as soon as possible.” It comes after British retail chiefs warned earlier this week that more low-value packages would be diverted to the UK after Mr Trump's administration closed a similar loophole in the US. The US president did so by signing an executive order to end a tax exemption for imported small packages worth less than $800 (£605). The exemption had allowed online retailers to avoid paying customs duties by shipping small orders directly to customers. Shein has argued these rules have meant the company could keep prices affordable, say
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