- Digital businesses have opportunities for global expansion through the internet
- Governments are introducing taxes to capture revenue from the digital sector
- Taxes targeting remote sellers include VAT, GST, DST, and withholding tax
- Over 100 countries require foreign businesses to collect local VAT or GST on digital services
- Tax rules vary by country, with some having no minimum threshold for tax registration
- Some countries require tax collection on both consumer and B2B sales
- Understanding and complying with these tax regulations is crucial for businesses venturing into the global marketplace
Source: forbes.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
