China customs seize thousands of GPUs from XFX

Krenum

Krenum

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Apr 29, 2005
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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.
 
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.

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

Lakados said:
I mean their profits are already looking better than ever before the import taxes would have been marginal but they got greedy.
Click to expand...

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.
 
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LukeTbk said:
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.
Click to expand...

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)
 
LukeTbk said:
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.
Click to expand...
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
 
T_A said:
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)
Click to expand...
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.
 
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.
 
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