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16/05/2024 The TikTok ban could hurt small businesses that prosper thanks to mobile users ( General )
16/05/2024 WhatsApp could add a new sticker-related feature very soon ( General )
15/05/2024 Facebook and Instagram experiencing outages along the East and West Coasts of the U.S. ( General )
14/05/2024 Qantas to launch new route from Manila to Brisbane ( General )
13/05/2024 Meta expands paid verification service for businesses ( General )
10/05/2024 For complex iPhone AI tasks, Apple will use cloud-based servers running M-series chips ( Electronics )
10/05/2024 Samsung plans to add $1B to Vietnam investment annually ( Electronics )
08/05/2024 Digital content exporters open foreign offices to avoid tax ( General )
06/05/2024 WhatsApp’s new status update tray with previews is rolling out more widely in beta ( General )
02/05/2024 A Deep Dive into Grade A Buildings in Hong Kong ( General )
02/05/2024 Shopee races past other e-commerce rivals ( E-Tailing )
30/04/2024 TikTok, Facebook, and other foreign service providers pay $575M in taxes ( General )
29/04/2024 Sacombank assures no loss on $141M loan to Bamboo Airways ( General )

Retail Asia14/01/2020

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Coca-Cola Vietnam has been ordered to pay VND821.4 billion ($35.4 million) in back taxes and penalties stretching back over nine years. Dang Ngoc Minh, deputy head of the General Department of Taxation, said 57.3 percent of the amount is the back tax, 35.2 percent is a penalty for delayed payment and the remaining 7.5 percent […]

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Retail Asia04/12/2019

A proposal to combat traffic congestion in Chicago by increasing taxes on certain ride-hailing trips won city council approval on Tuesday as the city and ride providers accused each other of penalizing low-income passengers. Mayor Lori Lightfoot’s plan increases the city’s tax on single-passenger trips and lowers the tax on shared rides while imposing new […]

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Retail Asia19/08/2019

The new Cayman Islands Economic Substance Law, which aims to prevent multinational companies using subsidiaries in tax havens to lower liabilities, is affecting Hong Kong hedge funds there. Hong Kong hedge funds are being impacted by new laws introduced in the Cayman Islands to target large tech and pharma firms that shift their intellectual property […]

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Retail Asia31/05/2019

HCMC’s proposal to impose a special consumption tax on mobile phones has drawn protests from experts, who said they are not a luxury product. Dr. Nguyen Thanh Binh of the Ministry of Planning and Investment’s Institute of Policy and Development said the proposal should be carefully considered since no other country levies a luxury tax […]

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Retail Asia05/03/2019

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Tokyo-based duty-free operator Laox is allowing Chinese tourists to Japan to do their tax-free shopping online in advance of their visit. The duty-free goods will be listed on an Alibaba-hosted website, allowing consumers to purchase their goods online and pick them up at Laox locations of their choice within Japan up to a month following […]

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Retail Asia05/03/2019

Alibaba’s Tmall has announced that it expects international and domestic cosmetics brands to open 1000 online cosmetics stores this year to meet burgeoning demand from Chinese consumers. At its annual beauty summit, Tmall announced that seven international cosmetics companies have signed agreements to open flagship stores on Tmall this year. Another five beauty companies signed […]

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Retail Asia05/03/2019

Starbucks India could be fined after failing to pass on a hefty GST cut to its customers. India’s director general of anti-profiteering (DGAP) has found that Tata Starbucks profiteered by not reducing its prices when the government reduced the GST from 18 per cent to 5 per cent in November 2017. Starbucks India is a […]

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Retail Asia13/02/2019

Samsung Electronics is expected to pay 16.8 trillion won ($15 billion) in corporate taxes this year, up 20.1 percent from a year earlier, due to its record earnings, its regulatory briefing showed Monday. It is expected to cough up 28.6 percent of its operating profits, which reached an all-time high of 58.9 trillion won in […]

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Retail Asia31/01/2019

Kering is facing an Italian claim for €1.4 billion (£1.2 billion) in unpaid taxes. The company’s Swiss-based Luxury Goods International (LGI) subsidiary has been under investigation for allegedly avoiding tax on earnings generated elsewhere. The probe has largely centred on Gucci, Kering’s star brand and biggest revenue driver. Italy’s tax police carried out checks at […]

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Retail Asia29/01/2019

While Sabeco is still at loggerheads with the taxman over alleged back taxes of $135.73 million, it has not provisioned for it. Its 2018 accounts make no mention of the amount in dispute though the HCMC Tax Department has claimed it owes that in taxes and fines and even tried to seize the money from […]

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Retail Asia18/01/2019

The Ministry of Finance said on Monday that it will impose new rules requiring e-commerce sellers to share data with the authorities, while also stressing that they must pay taxes. Surging smartphone use and a rising middle-class income in Indonesia, home to 260 million people, has made its e-commerce industry a battleground for foreign investors. […]

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Retail Asia17/01/2019

CIMB Thai Bank PCL’s unaudited con-solidated net profit for the year ended Dec 31, 2018 (FY18) fell 98.2% year on year to 6.9 million baht (RM883,732), dragged down mainly by higher income tax expenses. Profit before tax decreased 44.5% to 271.2 million baht year on year, mainly due to a 9.6% increase in operating expenses […]

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Retail Asia04/01/2019

HCMC tax authorities have failed to collect $135.73 million in taxes and fines, while brewer Sabeco has cried foul. The Tax Department of Ho Chi Minh City informed Vietnam’s largest brewer Sabeco on December 24 that it would withdraw VND3.1 trillion ($135.73 million) from the beer company’s bank account to collect overdue special sales tax […]

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Retail Asia28/12/2018

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The government is planning to overhaul the current cost-based alcohol-tax system to a quantity-based system, which may address concerns from local alcohol companies about cheap imported beer. According to the Ministry of Economy and Finance on Tuesday, current taxes on alcohol are based on costs, such as manufacturing or import prices. The government is currently […]

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Retail Asia17/12/2018

The National Tax Service (NTS) launched an investigation into Google Korea on Wednesday, sending an official to secure accounting documents at the company’s office in Gangnam District, southern Seoul. The investigation is thought to be into YouTubers suspected of avoiding taxes, as NTS Commissioner Han Sung-hee previously promised during the National Assembly’s annual questioning session in […]

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Retail Asia21/11/2018

The state auditing agency says Unilever Vietnam should pay over $25 million in back taxes for the 2009- 2013 period. Speaking at a National Assembly session on the draft bill on Tax Administration, State Auditor General Ho Duc Phoc pointed to the Holland-backed personal care products maker Unilever Vietnam as an example of taxes overlooked […]

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Retail Asia19/11/2018

The government fuel tax cut, which was implemented to ease the burden on rising crude oil prices, has turned out to be more effective than initially expected. According to the Ministry of Trade, Industry and Energy on Sunday, the average price of gasoline at gas stations nationwide was 1,575.2 won ($1.40) per liter during the […]

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Retail Asia26/10/2018

Exchange rate fluctuations and high taxes are the main concerns of Vietnam’s most profitable businesses, a recent report has found. The survey of the 500 most profitable companies this year, which include 41 foreign invested ones, by consultancy and market research firm Vietnam Report, said 51.4 percent of businesses considered exchange rate volatility as the […]

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Retail Asia06/08/2018

Failure to stop cheap, smuggled sugar from flooding domestic markets has sent local inventories soaring, local reports say. The trade department of the Mekong Delta province of Hau Giang, which has more than 100 hectares (247 acres) of sugarcane farms, has asked the Ministry of Industry and Trade to strengthen its anti-smuggling forces in border […]

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Retail Asia24/07/2018

Sabeco targets profits of VND4 trillion ($173 million) this year on revenues of VND36.09 trillion ($1.58 billion), a 2.4 percent rise over last year. Newly appointed chairman Koh Poh Tiong explained to shareholders that spending on brand promotion would be higher this year. He said rising cost of raw materials due to bad harvests across […]

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