Industry Trends
Indonesia Plans to Require E-commerce Platforms to Withhold Sales Tax from Small and Medium Sellers; Platforms Oppose the Policy
June 25 - Indonesia is planning to introduce a new regulation that will require e-commerce platforms such as TikTok Shop, Shopee, and Lazada to withhold 0.5% sales tax from small and medium-sized sellers with annual turnover ranging from 500 million to 4.8 billion Indonesian rupiah (approximately 30,000 to 300,000 US dollars). The move aims to alleviate the country's weak tax revenue and balance competition between physical stores and e-commerce businesses.
G20 Pledges Strengthened International Policy Cooperation
G20 finance ministers and central bank governors have issued a joint communiqué, committing to enhance international policy cooperation and sending a signal in support of multilateralism. They emphasized the need to end global trade conflicts soon and called on the U.S. and Europe to reach a fair agreement on tariffs.
U.S. Aid Cuts Leave Dozens of Global Infrastructure Projects Abandoned
Reuters, citing sources and documents, reports that dozens of global health and water supply infrastructure projects have been halted after the U.S. terminated related aid. The news agency verified 21 stalled projects across 16 countries.
