Foreign Trade Information | Amazon Japan Station: Compliance invoice retention system is about to take effect; French e-commerce ranks second in Europe!
NO.1
French e-commerce ranks second in Europe
Recently, Fevad, the French e-commerce sales association, released the 2023 French e-commerce annual report. According to reports, the French e-commerce market ranks second in Europe, second only to the United Kingdom, and ahead of Germany. E-commerce has become an important driving force for the French economy.
In 2022, French e-commerce sales will reach 150 billion euros, a year-on-year increase of 13.8%, and online sales will account for 12% of total retail sales. However, the increase was driven mainly by online sales growth in the transport, travel and leisure sector, with merchandise sales down but up 33% from 2019.
NO.2
Amazon Japan's compliant invoice retention system will come into effect on October 1
The Amazon Japan station announced that starting from October 1, 2023, the compliance invoice retention system for Japanese consumption tax will come into effect. A compliant invoice retention system allows corporate buyers to claim GST credits.
After this system comes into effect, Japanese corporate buyers will not be able to claim consumption tax credits if they do not have the relevant seller’s Japanese consumption tax registration number on their invoices. In response to this change, Amazon will make adjustments.
NO.3
Shopee adjusts Singapore shipping fee, low consumption tax is borne by sellers
Shopee recently issued a notice stating that its Singapore site will adjust the freight paid by buyers of the SLS-Pick Locker (Overseas) self-collection locker channel at 00:00 on July 1, 2023 (Beijing time).
Specifically, the starting price and refill price of the buyer's freight fee will be changed from 0.93SGD (Singapore currency) to free. This freight adjustment only affects the buyer's payment of freight, and does not involve changes in sellers.
NO.4
South Korean government cuts economic growth forecast to 1.4%
The South Korean government recently published the economic growth rate and material growth expectations that take into account the economic operation in the first half of the year in the report "Economic Policy Direction for the Second Half of 2023". The report first pointed out that due to the impact of sluggish exports due to the slowdown in trade, the economic growth forecast for this year was lowered from the original 1.6% to 1.4%.
This is lower than the 1.5 percent forecast by the Korea Development Institute (KDI), the Organization for Economic Co-operation and Development (OECD), and the Asian Development Bank (ADB).
NO.5
Over 3 million Brazilian sellers registered on Shopee
An in-app survey conducted by Shopee revealed that three in 10 sellers use e-commerce as their main source of income. Among the respondents, 35% of sellers said Shopee is now their main platform for generating income. Another statistic in the study showed that more than 50% of sellers said that Shopee has had many impacts on their lives.
Felipe Lima, head of business development at Shopee, said more than 3 million Brazilian sellers are registered on the platform. Also, research shows that Shopee sellers employ around 600,000 workers. It is estimated that since it started selling on Shopee, more than 390,000 sellers have been able to start saving and investing, and about 190,000 of them have made purchases through e-commerce activities.
