Jack Ma Champions Global Tax Waiver for Cross-Border E-Commerce
Xu Wei
/SOURCE : Yicai
Jack Ma Champions Global Tax Waiver for Cross-Border E-Commerce

(Yicai Global) Feb. 9 -- The scourge of trade protectionism should be distanced from the cross-border e-commerce sector, Beijing News quoted billionaire entrepreneur Jack ma as saying at the first Global Cross-Border E-Commerce Conference, which was held in the Chinese capital today.

The founder of e-commerce stalwart Alibaba Group Holding Ltd. used his keynote speech to advocate the establishment of a uniform tax exemption system that would encourage smaller companies to ride the globalization wave and use new technologies to build their future.

China's logistics firms handle almost 100 million parcels every day, a figure that could surge to a billion in the future, he added, saying some 15 percent of this would be from cross-border e-commerce purchases.

Ma revealed the customs administrations in Latvia and other countries worked overtime to during China's latest Singles' Day shopping festival, the online discount day held on Nov. 11 every year. The entrepreneur, who often cracks small jokes in speeches, said that those who don't like overtime had better brace themselves for more, suggesting cross-border e-commerce was only going to get bigger.

The time it takes products to pass through customs channels has dropped to eight hours from 57, he added. He hopes trade rules will become simpler in order to promote development in a sector where convenience is key. As many free trade zones tend to serve larger companies, there is still space for them to make more inclusive customs policies to level the playing field for smaller firms.

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Keywords: Alibaba