Decoding cross-border compliance
One of the most substantial barriers for ecommerce businesses to go global is generally related to compliance. Consumer concerns over personal data collection, security risks, and privacy loss are increasing as the global retail ecommerce market continues to expand. Currently, more than 100 countries from around the world have enacted data protection laws.
The strongest regulation related to data protection laws came into effect in the EU on May 25, 2018. This regulation is called the GDPR (or the General Data Protection Regulation) and aims to give control to individuals over their own personal data. Any processor of personal data must clearly disclose the fact that they are conducting data collection, including the purpose and lawful basis, how long the data is being retained by them, and if they are sharing personal data information with third-party companies.
Australia also came out with their own set of compliance legislation for GST (Goods and Services Tax) on low-value imported goods. The Australian GST is a broad-based 10% tax on most goods, items, and services that are sold or consumed in Australia. Businesses that sell goods over A$75,000 to Australian customers within a 12-month period will need to remit GST.
Learn more about how Zonos can help you manage cross-border compliance, i.e. privacy consent, international taxation, consolidated screening, restricted items, and terms and conditions, by reviewing the informative links below: