British retailers are pressing the UK government to end a tax loophole that allows foreign ecommerce sites like Shein and Temu to avoid customs duties. They argue that the current 'de minimis' rule unfairly disadvantages domestic companies. Influential figures, including Theo Paphitis and Julian Dunkerton, support following Donald Trump's lead in eliminating similar exemptions in the U.S. While the Treasury defends the existing rules, retailers claim millions in lost tax revenue undermine local businesses, and reforms are essential to ensure fair competition.
Theo Paphitis warns that allowing overseas firms to avoid taxes could be 'suicide' for the UK retail sector. The unfair advantage harms domestic businesses.
Julian Dunkerton believes that Trump's approach in abolishing tax loopholes is the right step forward for the UK retail industry, calling for similar reforms.
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