At present, cross-border e-commerce circles and foreign trade bosses are generally shrouded in anxiety. Industry supervision is becoming increasingly strict, and common operations in the past may be misunderstood at any time.
Many people are worried that this will cut off their financial resources, and they have consulted financial and taxation experts on risk and compliance issues.
The core of the current improvement of supervision in the field of foreign trade is not “restriction”, but “complementation”.
The following are the three core changes most relevant to cross-border practitioners and foreign trade bosses:
1. Cross-border e-commerce is included in formal supervision: Cross-border e-commerce and other new foreign trade formats are officially included in the unified supervision and legal protection system.
In the past, cross-border e-commerce grew wildly, making rights protection and supervision difficult; now with a clear identity, sellers’ legitimate rights and interests are more secure, but they can no longer carry out vague operations.
2. The data is fully “online”: Supervision supports the legal validity of electronic documents such as electronic bills of lading and electronic invoices, so that every transaction can be traced.
All cross-border e-commerce platforms are required to submit merchant tax-related data to regulatory authorities, and past illegal operations will be exposed to the system.
3. The industry leaves ample room for development, but the compliance red line is clearer: Regulatory measures establish an overseas intellectual property rights protection system, continue the export tax rebate policy, and exempt goods from import taxes, etc., leaving sufficient room for development of foreign trade companies.
But at the same time, global taxation is tight, domestic supervision is in line with global standards, and compliance red lines are clear.
The essence of this regulatory change is the restructuring of rules.
In the past, foreign trade and cross-border industries fought for courage, but now they fight for structure and compliance.
Whoever can explain their accounts clearly and establish a good compliance system will be able to stay; whoever cannot make it clear will be eliminated.
Faced with tighter regulations, bosses are concerned about whether business can continue and how to do it.
The answer is that we can definitely do it, and it will get better and better.
The following are three core suggestions:
1. Comprehensive self-examination: Focus on checking whether the income link is complete, whether the costs and expenses are true, and whether the tax declaration is compliant.
Correct problems in a timely manner and establish a compliance system.
2. Build a compliance system: Starting from the three core points of financial compliance, tax compliance, and business compliance, use compliance as the “moat” of the business.
3. Embrace changes and improve yourself: Change the logic of making money, from “making money with courage” to “making money with ability”.
The boss needs to raise awareness, provide training to the team, and establish compliance awareness.
The improvement of industry rules this time is a new starting point. Non-compliant players will be eliminated and companies will be established to produce products in a down-to-earth and compliant manner.
Bosses should explain their accounts clearly, establish a compliance system, and do a solid job in business.
As long as you abide by the rules and do practical things, you can secure your job.
Dear cross-border and foreign trade bosses, what do you think of the current tightening of regulation in the foreign trade industry?
Has your company conducted compliance self-examinations?
What problems have you encountered in the process of standardizing operations?
Welcome to leave a message in the comment area for discussion. Let’s communicate and avoid pitfalls together.
