Shein is under fire in the U.K.: the U.K. branch allegedly transfers the vast majority of its revenue to its parent company in Singapore to reduce its U.K. tax bill.
Large sums to Singapore
According to the Fair Tax Foundation, Shein UK diverts 84% of its revenue, 1.72 billion pounds (2 billion euros), to its parent company in Singapore. As a result, very little profit is taxed in the UK itself. Shein paid just 9.6 million pounds (11 million euros) in corporate tax last year.
