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Indonesia Reduces Import Tax Threshold To Protect Smaller Firms

PYMNTS

Indonesia has announced it’s going to reduce the threshold for taxing imported eCommerce consumer goods from $75 to $3, to help control the purchases of cheap foreign goods and help protect smaller Indonesian firms, according to a report by Reuters. Most of the shipments are from China, according to data from customs. . percent to 37.5

Taxes 134
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Tax Reform Shows Early Signs Of SMB Bank Lending Impact

PYMNTS

tax reform led to much chatter and some confusion about exactly how changes would impact the nation’s small businesses (SMBs). Department of Treasury finalized rules that apply to SMBs on qualifying for a 20 percent tax deduction, with the National Federation of Independent Business (NFIB) applauding the initiative. percent rate.

Taxes 122
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Why Mexico’s SMBs Need A FinTech Operating System And Not Another Bank

PYMNTS

The world needs a FinTech operating system.”. Fraud is a real risk when handing over the (tangible) plastic, said Poovala, especially when fraudsters lift the card data and then use that information to buy goods and services online. The world doesn’t need another bank,” Poovala told Webster.

System 258
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GPS Capital Markets For Sale, Sources Say

PYMNTS

Corporate foreign exchange brokerage GPS Capital Markets is reportedly up for sale, unnamed sources told PE Hub. As of last year, the company employed 63 people, reports said, citing Utah Business data. As of last year, the company employed 63 people, reports said, citing Utah Business data.

Capital 108
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Bitcoin Daily: Korean Commission Suggests Allowing FIs To Offer Crypto; China’s OneConnect Platform Supports New Blockchain Financing Product

PYMNTS

OneConnect used Guangdong’s “digital government” tech resources, as well as its own blockchain tech, AI and Big Data, to create the platform — which has access to data in 213 categories from 26 departments of government, and has connected with 129 financial institutions in the China province. ”

Bitcoin 132
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The pro-cyclicality of capital ratios and credit supply, a tale of two sizes

BankUnderground

This post investigates whether large and small banks in the UK and US differ in the cyclical patterns of capital positions and credit provision. The reforms aimed to ensure that banks have sufficient capital resources to absorb losses and reduce the cyclical effects of bank capital (and regulation) on the supply of bank credit in stress.

Capital 85
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Financing Gets Flexible As eCommerce Sellers Brace For Seasonality Whiplash

PYMNTS

Despite a surge in sales, small businesses selling online can struggle to manage working capital, particularly as many rely on third-party marketplaces like Amazon that don't facilitate instant access to revenues. Digital commerce is a capital-intensive business model, he said, and keeping pace with buyer demand puts a strain on finances.

Capital 356