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Indonesia Levies 10 Pct Tax On Sales From Tech Firms

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The Southeast Asian country’s national tax office announced it will impose a 10 percent value-added tax (VAT) on foreign global technology companies as the nation looks for ways to defray the costs of battling the economic effects of the COVID-19 pandemic, Reuters reported. The country’s total budget for 2020 is $177.6

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US Treasury: Taxes On Digital Companies Are Discriminatory

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Treasury official said a French tax plan targeting American digital companies is discriminatory against American businesses. Treasury’s top international tax official, called the taxes “ill-conceived,” and said the better option was to go after tax reform internationally at the Organisation for Economic Co-operation and Development ( OECD ).

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The Strange Spending Trends Around Sales Tax Holidays

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According to the National Retail Federation , as of last year parents entered August with about 45 percent of their back-to-school shopping done. This year 17 states will have sales tax holidays of one form or another — up from 16 last year, but down from the national high of 20 states in 2010. How Tax Holidays Work.

Taxes 101
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Misinvoicing Costing Nations Billions, Warns UNCTAD

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For others, however, entire national economies can be affected. According to the UN Conference on Trade and Development (UNCTAD), that’s exactly what’s happening in some developing nations, in which invoice errors across Africa and South America are leading to the loss of up to two-thirds of commodity export value.

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Startup Roundup: A Look At Local, National And Global Expansions

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As startups such as DadeSystems , FitPay and Jewel Paymentech expand across devices and functions, Tipalti , AvidXchange and Emailage announce new growth for their local, national and global footprints. Ahead of its global expansion, Tipalti conducted a study to find out. Here’s all the latest news from startup-land this month.

National 101
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The Biggest Banking, Regulatory Challenges For Today’s Entrepreneur

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National Small Business Week is this week in the U.S., But analysts from Bank of America, Square, Navcom and the National Association for the Self-Employed warn that challenges for some SMBs have reached new heights, too. and finance experts are celebrating with new data on the state of the entrepreneurial community.

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Bitcoin Daily: Tether’s Parent Co. Hit With $1T Lawsuit; Nearly $10B In Bitcoin Held In Crypto Exchanges

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Cotten didn’t file personal tax returns for 2014, 2015 or 2017 and his 2016 return didn’t report any income from Quadriga, and Robertson’s tax returns from 2015 and 2016 showed income of less than C$60,000 a year, while in 2017 there was income of less than C$5,000 — but none of it from Quadriga.

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