Govt lowers the price threshold of taxable goods to $3/consignment note from $75, Finance Ministry says in a statement.
- Waives tax income from 10% for e-commerce sellers with tax identification number or 20% for those without the ID
- Maintains import duty and VAT at 7.5% and 10%, respectively
- Sets import duty for bags at 15%-20%, shoes 25%-30% and textile 15%-25%
- VAT at 10%, income tax 7.5%-10%
- Measures aimed at creating level playing field between local products by small and medium enterprises, and imported goods
- New policy will allow marketplace platform to supply online transaction data to Finance Ministry’s customs and...