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Implications Of E-Commerce For Tax Legislation
As e-commerce develops ambiguities in the current tax code in which it may be exposed. It would not be regarded as too early to take premature steps for undertaking such a review at a time when detailed international legislation are going on to promulgate acceptable standards laws for imposition taxation in this regard. The Central Board of Revenue should take active part in promulgation of conducting research on this subject in hand and should propose any changes to tax law in the light of what emerges in development in e-business. In the meantime, Central board of Revenue will do two things:
o Make sure that e-commerce taxation requirements are fully considered when recommending amendments are made to existing laws, and
o Such changes should be made to national tax laws that are needed as unforeseen legal obstacles to the growth of e-commerce emerge to subject to tax revenue constraints.
If there is a difficulty in fitting any of our existing tax legislation to e-commerce transactions, then CBR should look at these emerging legal problems connect with its execution and administration. Uncertainty is bad for business. Taxpayers should not be left in doubt as to the applicability of a particular provision of tax laws. This is not to say that all of the existing tax legislation should be made applicable to e-commerce. However, the fact remains that e-commerce is just another way of doing business and it should normally be subject to the same tax requirements as any other method of doing business. The development of e-commerce may require some fine tuning of our tax laws in consistent in international legislative trends.
The writer is an advocate of High Court and practicing immigration and corporate laws in Pakistan since September 2001. He is a self employed and pioneer in research on electronic commerce taxation in Pakistan. His articles were published widely in the critical areas of cyber crimes, electronic commerce, e-taxation and various other topics. He wrote LL.M thesis on titled "Legislation of electronic commerce taxation in Pakistan" in which he provided comprehensive legal proposals for statutory reconstruction of tax laws for purpose of imposition of taxation on e-business in Pakistan. Currently he is conducting is research on topic 'Electronic commerce taxation: emerging legal issues of digital evidence'.Author can be contacted by email@example.com.
E-commerce: Is It Right for You?
The birth of the Internet and the mass availability of personal Computers in the late 80's changed peoples life forever, Everyone now has had the potential to be their own boss whether you are mother at home looking after your children or a manual laborer there are opportunities in abundance . Just a search on Google for business opportunities will bring up more offers than your parents would have had in their whole life. So it must be easy to make a living from the internet right? No it's not, you need a firm business plan and you need to work hard at it.
Excuse Me, Are You Wasting Traffic?
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When Do You Ask For A Refund?
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Bringing the World to Your Door
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I registered with a B2B site but what's next?
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So you want to start a business? Good for you. Really, I mean that sincerely. I think about the millions of people that let the thought pass briefly through their minds on he way to work everyday.
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Chinas Online Shopping May Be Booming In The Next Few Years
Data from China Internet Network Information Center (CNNIC) shows that till June 2004 Chinese online user has reached 87 million, of which, 7.3% has experience of online shopping.
Using Drop Shipping for E-commerce
Thanks to the ubiquity of the internet, online virtual businesses have become very popular business opportunities. Online retail stores are gradually playing a more important role in our lives than the traditional 'brick-and-mortar' retail shops. Over the last few years, a new concept called 'Drop Shipping' has emerged with the coming of the internet. Drop Shippers are basically wholesalers who are willing to ship their products directly to your customers. This article aims to provide readers with an introduction to the current state of the E-commerce industry, Drop Shipping and its benefits, and the promise it holds for the online retail community.
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