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Singapore may slam tax on e-commerce kings Amazon and Lazada
Eight of 12 economists think the new budget will include a new tax for online vendors.
According to Bloomberg, 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 19 February 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.
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