Fintech Daily Briefing

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The following is the Fintech Daily Information Briefing on [February 22, 2021] recommended by And this article belongs to the classification: Fintech Daily Briefing.

[1]. Thailand will levy VAT on foreign Internet operators from September this year

Recently, the website of constitutional communique of Thailand has issued new regulations on value-added tax on foreign electronic service operators. Starting from September 1, 2021, Thailand will charge 7% VAT on electronic services to all “foreign enterprises” providing online services with an annual income of more than 1.8 million baht (about 387000 yuan). Enterprises affected by the new tax regulations include: video game production companies, online service platforms, etc., especially the international Internet giants landing in Thailand – Apple, Google, Facebook, Netflix, tubing, etc. all have to pay VAT.

[2]. Morocco may consider introducing central bank digital currency

After four years of banning cryptocurrency, the Central Bank of Morocco (BAM) set up an exploration committee to study the benefits of introducing central bank digital currency (CBDC). The Central Bank of Morocco continued to be cautious about cryptocurrency because of its “speculative nature,” the report said.

[3]. Poland passes AI development policy

On January 12, 2021, Marek zag รณ rski, Secretary of state of the Polish Prime Minister’s office, and Justyna orlowska, Plenipotentiary of the prime minister in charge of government technical affairs, said that Poland would begin to implement the action plan specified in the “Polish artificial intelligence development policy”. Poland’s AI development policy defines Poland’s short-term (to 2023), medium-term (to 2027) and long-term (after 2027) actions and goals, covering six aspects: society, innovative companies, science, education, international cooperation and public sector. According to the policy, Poland will create a special team within the government agencies to track the implementation of the policy and coordinate relevant action plans. It is predicted that the development of artificial intelligence in Poland will increase GDP by 2.65 percentage points per year. By 2030, it will automate about 49% of working hours in Poland, while creating higher paying jobs in key sectors.

[4]. The third South Korea financial technology week online event will be held in May

On February 15, 2021, the Korea Financial Services Commission (FSC) announced that it would hold the third Korea financial technology week online activity from May 26 to 28, 2021. The theme of the event is “financial technology and sustainable financial innovation”. Through online live broadcast, online job fairs, investment and financing negotiations, online education courses and other activities, people’s awareness of the financial technology industry will be enhanced, and financial innovation in South Korea will be accelerated. Applications from participating institutions will start in the third week of March, and students and the public can participate free of charge. If the epidemic is effectively controlled, the FSC also plans to hold an offline Global Financial Technology Expo in November 2021.

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