Will SHEIN taxes increase? Understand the Governments’ proposal

We have crucial news for you who often make in-app purchases! Shein taxation may undergo very important changes soon; know everything!

In the vibrant universe of e-commerce, SHEIN has emerged as a fashion colossus, conquering a special place in the hearts and wardrobes of Brazilians. With its updated trends and prices that seem to defy reality, the brand has become synonymous with style and variety.

On the other hand, recent fluctuations in prices and tax rates have brought a new focus of attention to SHEIN’s regular consumers. The implications of fiscal and tax policies are about to redefine the online shopping landscape!

Is it true that Shein’s taxes will increase? Credit: plasticaxe.

Shein’s success in Brazil

In recent years, SHEIN has won the hearts of Brazilians with its huge variety of fashion products at affordable prices in the fast fashion model.

The Chinese company stood out in the national market, offering global trends quickly and at affordable prices. In addition to bringing a lot of style, this meteoric rise raises questions about changes in product prices and taxes.

Read more: Criticism, legal obstacles and more: SHEIN is in controversy!

Changes in taxation bother Shein customers

Those who usually shop at SHEIN and other Asian companies, such as Shopee, have already noticed a variation in prices and taxes related to products.

This is due to the Conform Remittance program, which prevents tax evasion and leads to a slight increase in the prices of items.

Now, these companies are entitled to exemption from federal taxes for products up to US$50, but must charge ICMS, a state tax, regardless of the value of the item.

Will Shein taxes increase?

Apparently, the answer is yes. Behind-the-scenes information indicates that state governments in Brazil are planning to increase ICMS taxation, currently at 17%.

This discussion is taking place openly, signaling that already expensive products could become even more expensive in the future.

Why do states want to increase ICMS?

Several governors noticed a significant increase in revenue after the unification of ICMS for international purchases.

State representatives, therefore, believe that it is necessary to increase this rate even further in the coming years.

Interestingly, the population’s criticism regarding this increase does not fall on the governors, but on figures from the federal government, such as the Minister of Finance, Fernando Haddad (PT), and President Luiz Inácio Lula da Silva (PT).

Increase in taxation is almost confirmed

There is a consensus among state finance departments that, if it is politically viable, they are interested in increasing the ICMS rate.

André Horta, institutional director of Comsefaz (National Committee of State Finance Secretaries), emphasizes this willingness on the part of states to relevel the tax rate.

In the same scenario, the Minister of Finance, Fernando Haddad, recently mentioned the process of reviewing taxes on imported products, such as those from SHEIN, Shopee and AliExpress.

He stated that the federal government has not yet decided on a new import tax rate, but did not rule out the possibility of charging even for products below US$50.

More details should be released soon!

Haddad highlighted that the debate is still ongoing and a decision will be announced when the matter has matured.

He questioned how smuggling grew in recent years without due attention from the previous government, emphasizing the need for deeper reflection.

Read more: 5 tips for buying at SHEIN and not being taxed: almost no one knows this

Navigating the world of taxation

The changes that can be made by states suggest a future scenario where buying from SHEIN and other international companies could become more expensive.

For fans of affordable fashion, this presents a challenge to be faced. However, it is crucial to be aware of these changes and prepare for an ever-evolving international shopping landscape.

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