...you buy a seemingly 'good' company and suddenly it has been found out to be doing wrong things, like Cettire which is able to sell luxury goods seemingly cheaper because it does pay the duties to the Government.
...as I repeatedly said WTF is going on with Corporate Integrity and Corporate Governance in ASX companies???
...Buy and Hold , then you get completely blindsided. Get OUT quick of these type of companies!
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Online fashion retailer Cettire shares tumbled 24.8 per cent following an investigation by The Australian Financial Review which revealed that duties charged by the company on goods were not paid to the federal government.
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The handbag, the scarf, the shoes and the shorts came to $1133.78. The shipping was free and the taxes were included, but duties totalling $169.43 were not. A total of $1303.21 was charged.
But none of the duties paid as part of the order were handed over by Cettire to Australian customs officials.
“I can confirm that there were no DUTY/TAX charged for these AWBs and did not meet the individual threshold of $1000,” a DHL customer services officer confirmed in an email.
