10 Mind Blowing Scenarios that Hypothetically Could Happen Due to Lack of KYC Procedures in Malaysian Banks

For solutions providers, this means an opportunity to partner with banks and other financial institutions to roll out e-KYC. Remittance service providers received regulatory approval to implement e-KYC as early as late-2017. And although the regulatory guidelines for banks came much later, banks already began to trial solutions with third-party vendors or started experimenting with … Read more

Regulatory Framework and Challenges that have given protection to well-entrenched incumbents

With the state-owned firm still to make the first move, private digital gold companies are in wait-and-see mode. This signals that they’re willing to comply, but they want it to be a level playing field. “Bappebti’s rules are acceptable for us,” says Indogold’s Sjuriah, who also points out the tough requirements set by the regulatory … Read more

Singapore’s Scarcity of E-Commerce Profits But a new platform aims to be an exception”in Southeast Asia

Buying digital gold isn’t all that different from purchasing the physical variety. You pay through an app, and a slice of gold corresponding to that value remains stored in a depository. Some services allow you to withdraw it and have it delivered. Others will only repurchase it from you for cash. Including traditional offline channels, … Read more

Managing a Multi-billion Dollar Business in the Digital Age

Yeshab Giri, director of staffing and head of Randstad Technologies, says the demand for hiring has picked up in the past quarter. Randstad helps companies—both service providers and captive facilities—with IT staffing as well as IT projects on contracts. “After COVID-19, there is a lot of focus on offshoring because cost has now taken centre … Read more

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American companies are now actively competing for product development and design talent from India for their captive centres while reorganising their technology operations. In Walmart’s case, one of its big problems in catching up with Amazon on the tech front is that Amazon has common platforms across the world—be it for shopping, or cloud services … Read more

What are the Legal Outcomes of Receiving a Tax Summons? A Seller’s Dilemma

Nevertheless, BIR’s Guballa wants to encourage small sellers to register. Tsai says this will help the government capture the information for “census” purposes. “Our gross domestic product is probably a lot understated because we have all these businesses that are not registered.” Speeding up the process Before, the BIR used to require small business owners … Read more

The Struggles of a Philippine-Based Online Seller and What You Can Do to Stay off the Radar of Tax Officials

The last time BIR issued a circular, Lazada was a year old and Southeast Asia’s e-commerce was exploding. The 2013 circular ordered online sellers and e-commerce platforms to register with the bureau, file income taxes and withhold VAT on sales. Shopee entered the market in 2015—first as a consumer-to-consumer play then eventually rivalling Lazada—and soon, … Read more

The Case on Philippine Silk-Roaders and How to Avoid Being Caught

And there’s a lot that’s taxable. The Philippine e-commerce industry’s gross merchandise volume was forecast to grow by a compound annual rate of 36% to US$12 billion in 2025 – from US$500 million in 2015, according to a report led by Google. Online marketplaces—Lazada, owned by Chinese internet giant Alibaba, and Shopee, owned by Singapore-based … Read more

What Is The Story Line In Into AMTD’s Spiderverse?

The Singapore-based company, which specialises in QR code payment solutions, rapidly expanded out into the rest of Southeast Asia in the last five years. It now has over 10,000 clients and has been appointed an authorised partner of Chinese super app WeChat. FOMO Pay even counts major regional brands such as international hotpot chain HaiDiLao, … Read more