Monday, September 20, 2021

Taxing Asia's Digital Business

Another interesting article in the IMF Blog in August 2021. A 3-min read. Excerpt:

"Resolving these challenges pays off. Requiring nonresident suppliers of digital services and e‑commerce marketplaces to register with local tax authorities and remit value-added taxes on their sales could raise revenue between 0.04 and 0.11 percent of GDP in some countries in Asia, translating to an additional $166 million in Bangladesh, $4.8 billion in India, $1.1 billion in Indonesia, $365 million in the Philippines, and $264 million in Vietnam."

Image credit - The IMF Blog

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