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Indonesia Levies 10 Pct Tax On Sales From Tech Firms

PYMNTS

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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The Strange Spending Trends Around Sales Tax Holidays

PYMNTS

According to the National Retail Federation , as of last year parents entered August with about 45 percent of their back-to-school shopping done. Retailers have reason to want to tap into it because back-to-school shopping is an incredibly valuable run of commerce activity. How Tax Holidays Work. That spend is big spend.

Taxes 101
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UK Hit By Retail Crisis As 140K Jobs Lost, 16K Stores Shutter

PYMNTS

According to a study by the Center for Retail Research (CRR), More than 2,750 jobs were lost every week — about 61 every working day. The study also said that without further government intervention, job losses in retail could hit 171,000 next year. Retail is still the U.K.’s percent of stores around the U.K.

Retail 132
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US Supreme Court Gives The Green Light For Online Sales Taxes

PYMNTS

States can collect sales taxes from online retailers thanks to a U.S. The 5-4 decision essentially overturns the court’s 1992 ruling that states can collect sales taxes only from retailers that maintain a physical presence in those states. retail sales. retail sales. Billions of Dollars at Stake.

Taxes 119
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Crypto Fails To Impress For Corporate Tax Payments

PYMNTS

to allow businesses to pay their corporate taxes in bitcoin. The Cambridge Centre for Alternative Finance released a study last year, finding a sharp increase in the onboarding of new cryptocurrency users, rising from 18 million at the end of 2017 to 35 million at the end of 2018, Invest in Blockchain reports said.

Taxes 145
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Decoding QR Codes: Retailers Embrace Simple, Secure Touchless Payments Option

PYMNTS

In the inaugural QR Code Payments Tracker® , PYMNTS explores the latest in the world of QR codes, including new implementations at retailers and payment providers, the security concerns facing this payment method, and the pandemic’s effect on the development and rollout of QR code-enabled payment options. Retail Environment.

Retail 207
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Italian Shoppers Embrace New Cash-Back Program For Credit Card Payments

PYMNTS

Italian consumers are embracing a new government program aimed at boosting retail sales while tamping down on tax evasion that allows buyers to receive a 10% refund on card payments made in stores. Studies have also indicated that the days of businesses using “petty cash” to pay for transactions could be coming to an end.

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