What do you think are the pros and cons of an Internet Tax? Do you believe the government should impose a tax at the end of the latest Tax Freedom Act later this year?
E-commerce is defined as all the commercial transactions that take place over the internet, including retail sales of products and services, adverstising and business-to business commerce.
USES OF INTERNET TAXATION AND THE DRAWBACKS OF NOT TAXING
E-commerce growth will produce sales-tax numbers that are simply too large to ignore. Due to Internet's income generating potential, state and local policy makers are hard-at-work opposing any limits on their efforts to reap revenue from the Internet for their treasuries. These groups want to stop the loss of tax revenue through remote sales of items over the Internet and are pushing for a variety of changes to the current tax codes. The main reason put forward is that the increased acceptance of online retailing could potentially decrease the tax coffers of cities and states. The potentially taxable e-commerce events include access to the Internet; digitized services sold on the Internet; and tangible goods and services sold on the Internet.
Advocates claim that America's tax-free e-commerce really amounts to mass tax ...