The Week Ahead (Nov. 24-28): Germany to Levy 23% VAT on E-Commerce Parcels From China
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Nov. 24: Germany to impose tax on Chinese e-commerce parcels
Germany will implement a new tax policy targeting cross-border e-commerce from China starting Nov. 24, levying a uniform 23% value-added tax on all e-commerce parcels and abolishing the previous minimum tax exemption threshold. This is expected to raise the average selling price of Chinese goods in the German market by 23%, directly affecting the market competitiveness of Chinese cross-border sellers.
Nov. 24: China’s central bank to issue bills in Hong Kong
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- Germany will impose a 23% VAT on all Chinese e-commerce parcels from Nov. 24, ending the minimum tax exemption.
- China’s central bank will issue 450 billion yuan in bills in Hong Kong; the UK will announce a budget possibly requiring £51 billion in fiscal measures.
- HKEX will halt trading of Starcoin Group; Guangzhou Futures Exchange will list palladium futures; HKEX will launch Hang Seng Biotech Index futures.
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Who’s Who
- Starcoin Group
- Starcoin Group, a Hong Kong-listed crypto-concept firm, will have its shares halted from trading by the Hong Kong Exchanges and Clearing Ltd. on November 26. This action was taken because the exchange questioned Starcoin Group's ability to fulfill its ongoing listing requirements.
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