By  on April 8, 2016

SHANGHAI — China on Friday implemented a new taxation system for products purchased from online e-tailers overseas that are delivered to customers on the Mainland.

The move, which treats these incoming packages essentially more like commercially imported products subject to import, customs and VAT charges — rather than a separate category subject to a single rate of “package tax” — could potentially dent the fast-growing cross-border e-commerce business in China. The Chinese Ministry of Commerce estimates this cross-border business will reach 6.5 trillion yuan, or $987 million at current exchange, this year. The ministry’s research said cross-border e-commerce could account for as much as 20 percent of China’s foreign trade in the coming years.

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