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KUALA LUMPUR: The Government’s plan to amend the taxation system to include digital tax is leaving Malaysian consumers concern about the issue of double taxation. This is because the prices of online products sold on e-commerce platforms such as Lazada, Shopee and 11Street have already included the goods and services tax (GST).
NEW YORK: Kik Interactive, which created the global chat platform Kik, valued at $1 billion, said on Tuesday it raised nearly US$100 million in the sale of its own token, below its expectations.
SINGAPORE: Southeast Asia's Sea Ltd, which provides e-commerce and digital payments services, is eyeing a $1 billion offering of new shares in aggregate in a proposed IPO on the New York Stock Exchange, according to a document it has filed with the U.S. Securities and Exchange Commission.
THE tax offices of governments around the world are getting pretty worked up about the digital economy. They seem to be playing catch-up with businesses that are able to stealthily move into their countries without a traditional physical presence. And not only that, their product offerings are entirely in the form of bits and bytes.
HONG KONG: China’s online watchdog has launched an investigation into reports of multiple violations at news services run by Tencent Holdings Ltd, Baidu Inc and Weibo Corp, as the government continues to tighten scrutiny over Internet content.
HONG KONG: Chinese news aggregator Toutiao, backed by Sequoia Capital and CCB International, is raising at least $2 billion at a valuation of over $20 billion in its latest funding round, people familiar with the matter told Reuters.
TOKYO: Sony Corp’s quarterly profit topped analyst estimates, thanks to demand for smartphone camera chips, a healthy music business and brisk sales of PlayStation 4 consoles and games.