Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
»
1-min read

Amazon Blocks Australia From Global Sites Over Tax

Amazon said Australian shoppers wanting to use its global platforms will instead be directed to its smaller Australian site, which offers much less for sale.

AFP Relaxnews

Updated:May 31, 2018, 2:05 PM IST
facebookTwitterskypewhatsapp
Amazon Blocks Australia From Global Sites Over Tax
(Representative image: Reuters)
Loading...

US internet giant Amazon will block Australian shoppers from its international websites to counter new tax laws on online purchases, it announced Thursday. New rules require internet retailers like the American behemoth to collect a 10 percent goods and services tax on everything bought from overseas sites from July 1, including under the current tax-free threshold of Aus$1,000 (US$760). As a result, Amazon said Australian shoppers wanting to use its global platforms will instead be directed to its smaller Australian site, which offers much less for sale.

Also Read: Apple May Introduce a Triple-Lens Camera iPhone Soon: Report

Amazon reportedly baulked at the massive administrative burden of tracking GST from all overseas transactions. "While we regret any inconvenience this may cause customers, we have had to assess the workability of the legislation as a global business with multiple international sites," it said in a statement. The retailer said it would compensate by opening a "global store" for Australians, adding an extra four million items previously available only on its American website.

"This will allow us to provide our customers with continued access to (our) international selection and remain compliant with the law," it said. But even with the changes, the number of products available will be a fraction of what's on sale globally. The new tax rules were brought in after years of lobbying by struggling local retailers, which have to apply GST to all online and store sales, Low consumer confidence and tepid wage growth have also hit traditional brick and mortar retail operations.

Also Read: OnePlus 6's Face Unlock Gets Fooled by a Photo

Amazon only launched a local Australian site last December, shipping from a warehouse in Melbourne with another planned in Sydney. It had around Aus$1 billion in sales from Australia annually through shipping from overseas ahead of the launch, according to Morgan Stanley analysts. Treasurer Scott Morrison said the new laws "level the playing field for Australian businesses". "The government doesn't apologise for ensuring multinationals pay a fair amount of tax here in Australia," he said.

Also Watch: Karbonn Titanium Frames S7 Review: A Decent Budget Deal

| Edited by: ---
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results