Fahmi Meets With TikTok To Discuss Potential Regulations
Malaysia is looking into implementing a global minimum tax.
By Tharshini Skovalan — 09 Nov 2023, 03:03 PM
The Malaysian government is considering the possibility of imposing regulations on TikTok and its ecommerce features
Communications and Digital Minister Fahmi Fadzil said Malaysia is not only mulling the possibility of registering social media platforms, but also putting in place a global minimum tax, or GMT. What this means is that TikTok may be required to pay a minimum effective tax rate to operate in the country.
Fahmi said he will meet with TikTok representatives today, 9 November
Fahmi said the meeting is a continuation of ongoing discussions between the government and TikTok.
"There are some regulatory aspects we are looking into. On top of that, we are looking to see how TikTok Shop is working," he was quoted as saying by Bloomberg.
The move may hinder TikTok's aspirations for online shopping in Southeast Asia
There is growing resistance in Southeast Asia against TikTok, a subsidiary of ByteDance Ltd, which may impede the company's plans to invest billions of US dollars in the region.
TikTok has already halted its online retail service in Indonesia because of a new government regulation that requires the company to separate its shopping feature from the video-scrolling service.
