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A quarter of 2023 has passed in the blink of an eye, and the cross-border circle is still turbulent.
Recently, the court finally made a first-instance ruling on the equity transfer dispute of the popular cross-border e-commerce company Paton. Cross-border Communication issued an announcement on major litigation and arbitration and progress It is learned that on March 31, Cross-Border Link issued an announcement regarding major litigation arbitration and progress. The announcement shows that as of the date of disclosure of this announcement, the company and its subsidiaries have accumulated 10 new lawsuits and arbitrations, involving a total amount of 349 million yuan . In addition, Cross-border Link's previous major litigation cases have also made new progress. Among them, the most eye-catching is the equity transfer dispute lawsuit between K-Link and SHEIN. ▲ The picture comes from the announcement of Cross-border Communication It is understood that in April 2021, Cross-Border Communication signed the "Paton Equity Transfer and Capital Increase Agreement" with several transferees including SHEIN , stipulating that Cross-Border Communication will transfer its 100% equity in Shenzhen Qianhai Paton Network Technology Co., Ltd. to each transferee respectively. Among them, the equity ratio of Paton agreed by Cross-Border Link and SHEIN to be acquired is 4.6782% , and the equity transfer price is 94.5 million yuan . After the above agreement came into effect, Cross-border Communication fulfilled its obligations such as changing the equity registration procedures of Shenzhen Qianhai Patson Network Technology Co., Ltd. in accordance with the law, but SHEIN did not pay the corresponding equity transfer payment to Cross-border Communication as scheduled. As of March 2022, SHEIN still owed Cross-border Communication 12.1153 million yuan in equity transfer price . Cross-border Communication repeatedly urged SHEIN to shirk responsibility for various reasons and refused to pay. After Cross-Border Link took SHEIN to court, SHEIN also launched a counterclaim. According to this announcement, the Shenzhen Qianhai People's Court made a ruling on this lawsuit: 1. SHEIN shall pay the remaining equity transfer price of RMB 12.1153 million, late payment penalty and attorney fees of RMB 100,000 to K-Link within ten days from the date of effectiveness of this judgment; 2. Dismiss all counterclaims filed by SHEIN. From the above, we can see that in this equity transfer game, Cross-Border Link has temporarily won. However, it is worth noting that the announcement also shows that after Cross-Border Link won the first instance, SHEIN launched a second instance appeal , requesting the annulment of the first instance judgment. Therefore, the equity transfer dispute has not yet come to a complete end, and subsequent progress will continue to be paid attention to. In addition, after the news came out, many cross-border sellers also lamented that there were rumors that they were facing the risk of being closed in the United States, and then there was the fact that they lost the lawsuit against Cross-Border Link. SHEIN can be said to be facing "internal and external troubles" recently. We also learned that recently, following the US alliance's questioning of SHEIN's tax evasion, the Brazilian retail industry also raised the issue of imposing taxes on Chinese e-commerce products. Brazil's parliament calls for the cancellation of tax exemptions for Chinese e-commerce products
It is learned that recently, Brazil's national retailers, the Joint Parliamentary Entrepreneurship Front (FPE), which brings together 230 members of Congress, are putting pressure on the Brazilian government and Congress to strengthen their tax policies on Chinese cross-border e-commerce platforms such as SHEIN, Shopee, Wish and Aliexpress. ▲ The picture comes from foreign media It is understood that members of the Joint Parliamentary Entrepreneurship Front (FPE) claimed that " the products sold by SHEIN, Shopee and Aliexpress are not taxed or are priced too low, which harms the interests of Brazilian companies. For example, platform users will enjoy import tax exemptions of up to US$50 in transactions as individual importers ; for example, platforms like SHEIN often divide a purchase into several packages to avoid taxes , and the invoice amount is much lower than the invoice amount when multiple packages are shipped together." The FPE president also claimed that Brazil receives more than 500,000 packages of Chinese products every day, which has caused the country to lose billions in tax revenue. For the above reasons, Deputy Félix Mendonça Júnior (PDT-BA) drafted Law 2339/22 (PL), which aims to impose import taxes on any foreign package coming from Internet sales. Once approved, this bill means that all products sold on SHEIN, Shopee, Aliexpress and other websites and exported to Brazil will be taxed, including packages priced below $50. This is obviously not good news for cross-border sellers selling products in the Brazilian market. It is unclear how much of an impact the proposal will have on Shein, but Brazilian consumers have reported in recent days that they have been charged large taxes on their products, in some cases exceeding the purchase price of the product. In this regard, although SHEIN, Shopee and Aliexpress have also responded, denying the accusation of the above tax evasion practices and stating that they have complied with all customs requirements, the above bill is still being promoted to this day. It is worth noting that although there is currently no evidence that the discussion in Brazil on the issue of taxation of Chinese e-commerce products is related to the US alliance's "SHUT DOWN SHEIN" campaign, since both are themed on strict inspections of customs and taxes on Chinese e-commerce products, some industry insiders speculate that the two may be related. The reason for these proposals is basically that the growth in local sales of Chinese export products is "too impressive". According to the latest report from the Bank of Brazil, in February 2023, SHEIN's visits in Brazil increased by 128% year-on-year , accounting for 39% of the total visits to online clothing platforms, while in February 2022, this proportion was only 19%. What do you think of this? Welcome to discuss in the comments section~
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