Haddad announces that Shein intends to produce 85% of the pieces in Brazil within four years

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According to the minister, the brand said it will adhere to the compliance plan with Brazilian tax legislation. Haddad talks about agreement with Chinese websites Finance Minister Fernando Haddad announced this Thursday (20) that the retail platform Shein intends to nationalize 85% of sales in up to four years. “The products will be made in Brazil. They themselves will give the investment numbers later,” he said. In addition, the platform committed to adhere to the Federal Revenue’s compliance plan and “normalize relations with the Ministry of Finance”, said the minister. “If the rule applies to everyone, they will absorb the costs of compliance, not pass it on.” According to Haddad, this move will bring investment to the country and balance production and trade conditions for national and international retailers. “We want foreign investment, we appreciate electronic commerce, we want competitive conditions so that we don’t harm jobs in Brazil and Brazilian retail stores.” Haddad says exemption for purchases of up to US$ 50 will be maintained On Tuesday, the minister said that he would present an alternative in May for “distortion” in international purchases of up to US$ 50 between individuals, after announcing that the government would not end with the rule that exempts these international transactions. The government’s retreat occurred after the negative repercussions of the idea of ​​ending the exemption. Haddad argues that what the government intends to do is to monitor more rigorously remittances from companies from other countries, such as from China, for example, that impersonate individuals in order to be exempt. Government withdraws and maintains exemption for international purchases between individuals up to US$50

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