Chinese hunger for Australia food leaves A$1 billion tax hole



Australia might be missing out on up to A$1 billion (588 million pounds) in uncollected taxes annually from Chinese agents who ship food back home to meet insatiable demand from a booming middle class.
There are 40,000 so-called Chinese 'daigou' in Australia making anywhere between A$40,000 to A$100,000 a year selling sought after products like baby milk formula, vitamins and organic cosmetics in China, according to industry consultants.
Most of that income earned by daigou - meaning 'buy on behalf of' in Chinese - is unlikely to be declared, said Benjamin Sun, director at consultancy... read more

 
27 September 2016 in Business, Views: 37
Source: Reuters
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