11 Feb '18, 11pm

Singapore Kicks Off Race to Tax $38 Billion Shopping Boom

Singapore Kicks Off Race to Tax $38 Billion Shopping Boom

SINGAPORE, Singapore — Singapore may unveil an e-commerce tax in next week’s budget, setting the tone for a region that’s grappling with online retail’s assault on brick-and-mortar vendors. Eight of the 12 economists in a Bloomberg survey said the February 19 budget will contain a new tax on online vendors, with another betting that cross-border digital transactions will now be included in the goods-and-services tax regime. Thailand, Indonesia, and Malaysia — where governments are funding ambitious infrastructure programs — are also considering similar plans. Southeast Asian governments are seeking to level the playing field for traditional vendors given the rapid growth of online retailing on platforms such as Lazada, controlled by Alibaba Group Holding Ltd., and Amazon.com Inc. BMI Research projects the region’s six biggest economies will boost e-commerce to $64.8 billio...

Full article: https://www.businessoffashion.com/articles/news-analysis/...

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