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?© BrainMass Inc. brainmass.com October 16, 2018, 4:42 pm ad1c9bdddf
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 ...
Discussion Question on the pros and cons on the implementation of internet taxation
Do you think there should be a nationwide internet sales tax as a way of reducing the federal income tax? Why or why not? What are the positives and negatives associated with any type of sales tax? Do you see issues with the current system of collecting tax on internet sales?View Full Posting Details