Singapore May Start Taxing Amazon and Lazada
- Most economists expect new e-commerce tax in 2018 budget
- Southeast Asia online retail may be worth $65 billion by 2021
Photographer: Michael Nagle/Bloomberg
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Singapore may unveil an e-commerce tax in next week’s budget, setting the tone for a region that’s grappling with online retail’s assault on brick-and-mortar vendors.
Eight of the 12 economists in a Bloomberg survey said the Feb. 19 budget will contain a new tax on online vendors, with another betting that cross-border digital transactions will now be included in the goods-and-services tax regime. Thailand, Indonesia, and Malaysia -- where governments are funding ambitious infrastructure programs -- are also considering similar plans.