Retail in Asia

In Trends

Hefty tax bill worries online vendors in China’s Wuhan

An online seller in the Chinese city of Wuhan, Hubei Province, has been ordered to pay CNY4.3 million (USD664,600) in business tax, as the city becomes the first city government to tax internet vendors.

Industry people said the move may force online vendors to raise prices while others said it could hurt the city’s economy if online sellers move their operations elsewhere.

This comes after the Administration for Industry and Commerce last year asked online vendors to register their information and apply for business licenses.

(Source: Shanghai Daily)