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Economic Nexus Laws’ Unexpected Impacts On Restricted Substance Retailers

PYMNTS

eCommerce sales tax laws are having unintended consequences in the tobacco industry. These laws were meant to make online sellers face sales tax requirements similar to those for retailers with on-the-ground locations, putting both types of businesses on equal footing. in 2017 had a 52.75

Retail 109
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China’s Tax On Foreign eCommerce Sites

PYMNTS

China has some new taxes on goods imported through eCommerce sites, though it has also removed some duties that had previously been assessed. Food will now import at a higher duty price; previously the tax was 10 percent. percent, a dip from the 17 percent currently being charged as a value-added tax in Chinese physical stores.

Taxes 100
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Amazon’s Biggest Campus In The World Opens In India

PYMNTS

The move illustrates Amazon’s aggressive push to expand in the country, despite stiff competition from companies like Walmart, and stringent regulations in the country regarding foreign eCommerce sites. Amazon, for its part, started working in India in 2004, but retail endeavors began in earnest in 2013.

Arlington 170
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Fizzle Of The Week: The Cannabis Payments Conundrum

PYMNTS

states (and the District of Columbia) where marijuana has been legalized for sale in some capacity, it has thrown off a fairly large chunk of tax revenue in the last year. billion in taxes from legal cannabis companies last year, an amount of money that is undoubtedly a sizzle for the federal coffers.

Taxes 177
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FinTech Partnerships With FI Marked By Global Scope

PYMNTS

This comes as the newswire reports that retailers take as long as five to seven months to pay suppliers, as estimated by the ministry of trade. In the Middle East , RAK Bank has said it will offer Sage accounting software to business banking customers, in an agreement that helps those firms manage value-added tax (VAT) compliance mandates.

Fintech 115
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Elavon’s Sage Pay Acquisition, Google’s Citi Deal, Facebook Pay Top This Week’s News

PYMNTS

Isaacson has watched remote sales tax policies unfold since that time in a flurry of new laws that differ by state, and even municipality. House of Representatives lawmakers said antitrust regulators should take action against larger tech companies, which typically evade much oversight at the expense of smaller players.

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How 60+ Startups Are Disrupting Retail And Commercial Banking Around The World

CB Insights

Startups targeting retail and commercial banking have been emerging globally, spurred by favorable tech regulations, an uptick in mobile adoption, and shifting customer demographics. This year in the US, JP Morgan launched mobile banking app Finn and Goldman Sachs’ retail banking arm Marcus crossed 1.5M Incumbents Play Catch-Up.

Retail 78