New Zealand Government Proposes Amazon Tax For E-Commerce
New Zealand is looking forward to implement a new law that will enable the government to tax purchases such as books, shoes and other small items made online from overseas companies in what will be called the “Amazon Tax.”
New Zealand’s revenue minister Stuart Nash announced that the government would work on finding a solution to the loophole in its tax structure that allowed individuals to purchase low-cost items overseas from online platforms without having to pay the 15% tax imposed on goods sold in the country’s offline retails. The new system will levy the same amount of tax on items costing less than $400 and only has to be approved by lawmakers before coming in full effect from October 2019.
Several countries are confronted with the same problem as e-commerce companies provide...
