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New India Tax Prompts Pushback By Amazon And Flipkart

PYMNTS

Amazon and Flipkart are pushing back against a proposed Indian tax on the online eCommerce market, saying it will stymie growth in the industry, according to a report by Reuters. . The tax would be 1 percent on every sale made by a seller on the eCommerce platforms, and it would take effect in April if approved by the country’s parliament.

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Amazon (And Others) Brace For India’s New eCommerce Tax

PYMNTS

The jousting over eCommerce taxes — especially for U.S. Last week in India, the government proposed a tax on eCommerce transactions that will likely increase operating costs for sellers large and small. The tax, technically known as “Tax Deducted at Source” (TDS), is sent directly to an account held by the central government.

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Data Governance in Banking and Financial Services – Importance, Tools and the Future.

Perficient

These rules are about as fun as reading tax code, but they’re crucial in ensuring customer data is protected, privacy is maintained, and banks don’t end up with regulators breathing down their necks.

Tools 221
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Government Aid Expected To Spur Economy To Pre-COVID Peak In Mid-2021

PYMNTS

However, the agency projected that the unemployment rate will only gradually decline through 2026, with the number of people employed returning to a pre-COVID crisis level only in 2024. The CBO’s projections assume that “current laws governing federal taxes and spending (as of Jan.

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The Rapid Rise Of Social Credit Scores 

PYMNTS

million times last year for offenses such as unpaid taxes and fines. million times from purchasing train tickets, and 128 people were blocked from leaving the country because of unpaid taxes. The report’s authors predict that by 2026, the concept of social credit systems will be entirely mainstream in the U.S.

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Libra Forces Cryptocurrency Regulators To Reexamine Procedures

PYMNTS

percent from 2019 to 2026, the technologies’ high costs and lack of skilled IT professionals prevent the market from doing so more quickly. Regulators are increasingly taking note, with some seeking to improve AML and anti-tax evasion efforts by prohibiting anonymous crypto transactions. Cryptocurrency and Blockchain.

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India’s Payments Power Moves

PYMNTS

In 2016, Prime Minister Narendra Modi put forth a policy that took the largest banknotes in circulation out of the system (500 rupee and 1,000 rupee bills), a move intended to reduce tax evasion and corruption. The central bank said in August that it had gotten roughly 99.3 Online Retail Growth.

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