China customs seize thousands of GPUs from XFX

[Krenum]

https://www.techspot.com/news/93756-chinese-customs-seize-thousands-gpus-xfx.html#commentsOffset

"This week, Chinese authorities seized a shipment of XFX GPUs at a port on the border between Hong Kong and Shenzhen. It contained 5,840 GPUs that local media identified as mostly AMD Radeon RX 6700 XTs headed for XFX's Chinese sales partners.
Officials say the shipment's value exceeds ¥20 million ($3.15 million).

 

[Lakados]

What... XFX once again shipping their stuff by the pallet to Miners directly, say it isn't so... You think they would have learned.

I mean their profits are already looking better than ever before the import taxes would have been marginal but they got greedy.

I hope AMD strips them of their partner status and stops shipping them chips, they got caught doing this exact same thing back with their 500 series cards and with the 5000's too.

 

[YeuEmMaiMai]

lol read article, it was tax evasion

 

[LukeTbk]

It is a bit a counter expected story in the sense of stuff like assembled electronic being imported into China, usually think of the other way around.

What... XFX once again shipping their stuff by the pallet to Miners directly, say it isn't so

It would have been better to sells directly to miner I imagine, that was a shipment headed for XFX's Chinese sales partners according to the article.

I mean their profits are already looking better than ever before the import taxes would have been marginal but they got greedy.

China VAT is around 13% I think (the article say), that seem to be quite significant and enough for it to be very common for OEM to try their luck.

 

[T_A]

China VAT is around 13% I think (the article say), that seem to be quite significant and enough for it to be very common for OEM to try their luck.

Not sure how it is for china , but VAT is usually payed by the consumer that purchases the item, business don't pay VAT for merchandise they buy (or rather will get a VAT refund)

 

[Lakados]

China VAT is around 13% I think (the article say), that seem to be quite significant and enough for it to be very common for OEM to try their luck.

China offers variable VAT rates that go as low as 0.5% based on a number of things including past infractions, they reward good behavior, and all that jazz. But yeah Tax evasion is a big deal and I really hope they get slapped hard for it because they have been caught a few times doing this same thig

 

[Lakados]

Not sure how it is for china , but VAT is usually payed by the consumer that purchases the item, business don't pay VAT for merchandise they buy (or rather will get a VAT refund)

https://www.avalara.com/vatlive/en/...xable,small entrepreneur; or general business.

"Businesses and individuals providing taxable goods and related processing services or who import into mainland China are liable to VAT."
So in this case XFX is the one who is on the hook for the VAT fees.

 

[RussianJ]

Big ooof. Someone is not going to have a good time with that fine and jail time. You know someone is going to get stuck with that.