Is Singapore, which allows cross-border e-commerce competition, really a blue ocean?

Cross-border e-commerce focuses on the Southeast Asian market, and most of them choose Singapore as their foothold, largely considering the relevant factors of the tax system and the overall consumption environment in Singapore. Singapore is indeed cheaper in the consumption environment, and then the tax system is the lowest in the world as a developed country.

In terms of consumption environment, the main payment method in Singapore is credit card. It is not difficult to buy the corresponding goods through online payment by credit card. For example, some large-scale cross-border e-commerce Amazon takes Singapore as a foothold and proposes corresponding sales concessions, similar to our domestic services. Because Singapore's overall area is not large, it is not difficult to arrive the next day, and Singapore also has a good internet penetration rate. Now it has probably risen to about 89% of the driver penetration rate, so it is quite convenient for people to shop online. This is a very big market, and many immigrants in Singapore live in this place. Because the environment is really good, the overall consumption power is very strong.

Singapore also enjoys some preferential tax policies. For example, Singapore enjoys tax exemption for up to three years for some newly established companies, and Singapore also has corresponding agreements to avoid double taxation through international agreements. After paying taxes in Singapore, you can refuse to pay the corresponding taxes in other places, and the tax payment ratio in Singapore itself is relatively low. For example, the personal income tax in China is about 3%~45%. Singapore is about 0%~22%, which is a very convenient condition for the source of high-income people. For companies, the tax rates of value-added tax and consumption tax increase in Singapore are relatively low, and the principle of strict territorial collection is implemented.

Therefore, major cross-border e-commerce companies are considering such a fertile market and convenient development conditions in Singapore. For example, Singapore, as one of the few developed countries in Asia and Southeast Asia, has a certain influence on neighboring countries, and its tax policy is relatively favorable, which is convenient for developing the Southeast Asian market. So Singapore is a very good place to stay, and besides these cross-border e-commerce, there are also major enterprise groups from all over the world who have settled here, because it is a good tax haven, Iceland, Iceland.