Germany is cracking down on online tax evasion on platforms like eBay and Amazon after losing millions of VAT (value-added tax) revenue. To patch the loophole, the government has drafted a bill against such activities and passed it into law. The new German law on VAT to crack down on tax evasion The convenience brought ...
Global e-commerce giant Amazon has announced that it will be shutting down its domestic marketplace in China. Amazon apparently could not compete with local e-commerce rivals and decided that pulling the plug would be an economically wise decision. Shutting down Amazon’s operations “We are notifying sellers we will no longer operate a marketplace on Amazon.cn ...
The richest businessman in India, Mukesh Ambani, saved his brother from a jail term after paying off the latter’s outstanding debt of around US$67 million to Swedish telecom equipment maker Ericsson. Mukesh’s brother, Anil Ambani, is the Chairman of Reliance Communications (RCom). Rescuing his brother Back in 2014, Ericsson entered into a deal with RCom ...
Every major online retailer in the world claims to offer deep discounts during festive seasons to boost sales and revenues. In India as well, customers wait for special sales days so that they can buy products at “highly discounted” prices. But a report by retail technology firm Ace Turtle reveals that Indian e-commerce retailers do ...
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