Thursday, 6 January 2011

Offshore sites may cost local retailers | Perth Now

RETAILERS risk prosecution if they shift e-commerce sites offshore to avoid import duties and GST, tax lawyers have warned.Myer plans to start selling tax-free merchandise through a Hong Kong-based website next month, to compete against foreign retailers who can mail goods worth less than $1000 to Australian customers tax-free.But the Taxation Institute of Australia warned yesterday that the Australian Taxation Office could intervene if it suspected any retailers were avoiding tax."There are powerful general anti-avoidance provisions (in the tax act) that need to be complied with," the institute's senior tax counsel, Robert Jeremenko, said yesterday, without commenting specifically on the Myer case.
Offshore sites may cost local retailers | Perth Now
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