On August 18, the headline “Zhang Ziyi Cashes Out 300 Million” suddenly surged to the top of the trending topics list without any warning.

The most talked-about comment in the comments section was four characters: “Have they audited her taxes yet?”

But if we look at this matter outside the context of gossip, it is actually a share transaction that was announced by a publicly traded company, went through board approval, and followed transparent, traceable procedures.

Let’s skip the gossip today and break down the tax logic behind these 300 million in detail—because this logic applies to every business owner exiting a shareholding platform.

On April 13, 2026, South Africa’s e-commerce giant Takealot reopened its platform to Chinese sellers after a 33-day suspension; Just 77 days later, on July 1, South Africa’s Department of Communications and Digital Technologies officially revoked South African Post (SAPO)’s 91-year-long monopoly on small parcel services, and six logistics companies with Chinese ties established distribution centers totaling over 30,000 square meters in Johannesburg. One statistic speaks volumes: for a 1-kilogram standard package shipped by air, the cost per shipment via SAPO used to be 95–110 rand, whereas private couriers now quote 60–75 rand—a reduction of 30%–40%. For those currently eyeing the South African market,

Effective April 1, 2026, the adjustment to the mandatory VAT registration threshold announced by South Africa’s Minister of Finance in the annual budget took effect—raising the threshold from 1 million rand to 2.3 million rand (approximately 920,000 RMB). marking the first adjustment since 2009. Overnight, ”My annual sales are less than 2.3 million rand—is it okay if I don’t register?” became a frequently asked question among cross-border sellers. However, behind this policy adjustment—which appears to be a ”relaxation”—lies a counterintuitive logic that many Chinese sellers overlook: failing to register for VAT does not save on taxes; rather, it results in the complete loss of input tax credits that could otherwise be claimed.

After South Africa’s Takealot relaunched its seller recruitment in April 2026, a hidden barrier began to weed out Chinese sellers on a large scale: products were found to lack complete certifications during random platform reviews after listing or during customs spot checks upon arrival—resulting in product delisting, store suspension, and forfeiture of security deposits. and cases where the ”entire process” has gone awry have increased significantly over the past half-year. The acronyms NRCS, ICASA, and SABS may sound like three separate certification hurdles, but in reality, they form Takealot’s ”three-certificate closed loop” for electrical products. Behind each certificate lies a 2–3-month processing period and costs ranging from 30,000 to 150,000 rand.

In 2025, Takealot’s GMV exceeded 24.5 billion rand (up 18% year-over-year), while local stores accounted for only 35% of the total number of sellers on the platform, they contributed over 65% of the platform’s GMV—primarily due to Takealot’s higher search weighting for local stores, dedicated traffic channels for local last-mile delivery (Takealot Now same-day delivery), and a ”fast-track” process during compliance reviews. A typical local store seller averages 2–3 times as many monthly orders as a cross-border store, with a return rate 40% lower than that of cross-border direct mail. However, the barriers to entry for local stores are significantly higher: sellers must hold a South African local