Fastech Closing down

[MrDJ]

oh crap, i didnt see this one coming.

 

[MrDJ]

Dear valued customers,

From November 1, 2022, e-cigarette products have been regulated as tobacco products, which means they are subject to the same rules for licensing, production, sales, import/export, and taxation, among others, as traditional tobacco products. All e-cigarettes are subject to an ad valorem tax and exercise strict export standards and control.

The new measures and restrictions mark a considerably more hardline approach toward the industry. Most manufacturers have suspended stock supplying and focusing on the bonded warehouse, others are offering stocks with an unreasonable tax rate. Shipping is also being affected by stricter customs inspection.

In light of these new measures, we're considering options moving forward. Before a path is decided, we're sorry to say that we will be selling inventory only to prevent issues down the line. Non-e-cigarette products are also involved in removal due to technical limitations. We can't batch remove products based on both their stock status and category.

Please be assured that all existing orders will ship within the promised timeframe unless for stock shortage. Our CS will be in contact with you shortly if there is a shortage of stock occurs in your order.

We apologize for the inconvenience caused. Please do not hesitate to contact us if you have any questions or concerns.

Best Regards,

FastTech Team

 

[Astral]

Yikes. I'm sure someone will take their place, but... yikes.

 

[Digbys]

christ on a bike

 

[Deleted member 54254]

Nothing lasts forever, sad for them, inconvenient for us.

 

[Murcix]

the reason
"A tax rate of 36% will be placed on the production or import of e-cigarettes, while an 11% tax will be placed on the wholesale distribution of e-cigarettes."


https://www.reuters.com/world/china/china-impose-consumption-tax-e-cigarettes-november-2022-10-25/

 

[Cozy]

sourcemore have got around it with a warehouse in a different location, had an email about it a while back, strange would have thought faster would have gone down the same route

'Dear Customers,

A consumption tax of 36% is collected from Nov. 1st, 2022 in China towards all vape products. It is a big change to the vaping industry, especially for trading companies like us. To avoid the tax and offer the same prices to our customers, we have opened a new warehouse - the Bonded Warehouse. It is located in Shenzhen.

All products shipped from the Bonded Warehouse will be declared at the customs in China. This will not affect the customs clearance or declaration in the destination countries. While, the shipping methods to some countries are changed. Please check the current shipping methods at the bottom of this notice.

The default warehouse for all pre-order items is changed to the Bonded Warehouse. Now all products except clearance items can be pre-ordered at our Bonded Warehouse.

Products of the CN-1 and CN-2 Warehouses can be brought to the Bonded Warehouse in 1~3 business days.

So, for retail, please choose the Bonded Warehouse for all items if you need us to ship them together. The total shipping cost will be lower in this way.

For wholesale, please contact your sales manager or [email protected] before making your first order.

Thank you for your continuous trust and support!
Sincerely,
Sourcemore.com'

 

[Cozy]

should have read their notice before posting above

 

[rew]

It's sad but I have been weaning myself off buying from China for some time.

 

[RAPTOREX]

Now, of all times, should be when we support the U.K. vaping outlets. In my view anyway.
There’s not been much difference, in price, for some time now, anyway.