Australia’s largest department store chain Myer (MYR.ASX) will open an online store in China to evade Australian retail taxes, AFP reported. Myer said it will sell goods on the site and ship them from a warehouse in Shenzhen to its Australian customer base, thus dodging Australia’s 10% tax on sales of goods and services. The tax has aggravated the troubles of Australia’s retailers, which are currently struggling to compete with a low US dollar, currently near parity with the Australian dollar, which makes online retailers particularly competitive. "We will take jobs offshore and we will ship product[s] out of China through our internet site," said Myer chief executive Bernie Brooks. "It’s a bloody shame."
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