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LML4810 ASSIGNMENT 2 YEAR 2024
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LML4810 –UNISASEMESTER 2; DUE 27/09/2024
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, Write a detailed report in
which I explain to ebo the
impact of electronic
commerce on PE;
Electronic commerce comprises the electronic sale by online stores of downloadable
soft merchandise such as music, e-books, e-newsletters, photos and video
recordings, software and documents (direct e-commerce), the electronic ordering of
tangible products (indirect e-commerce), online securities transactions as well as the
provision of financial or other services. It also includes the subscription to and use
of an internet service provider (ISP) or an online service provider (OSP), and has
also been held to cover electronic data interchange (EDI), electronic fund transfers
(EFT) and all credit and debit card activity. E-commerce transactions can be
business-to-business (B2B) or business-to-consumer (B2C).
The primary attribute of electronic commerce that sets it apart from conventional
business dealings is its electronic nature. Therefore, the company's website is used
to market its goods and services; consumers peruse online catalogs and make use
of safe online shopping cart systems; orders are placed through interactive online
order forms; credit card payments are made through safe online payment systems;
and delivery is handled through either conventional channels (mail, shipment, etc.) or
by permitting the download of digital goods from the website onto the customer's
computer.
These same advantages, which have revolutionised the way commerce is
conducted, now present fiscal and other legal difficulties which were inexistent under
the pre-internet legal order. Never has a technological innovation or invention ever
challenged the world’s economic and legal foundations so drastically. It comes as
no surprise that the tax impact of e-commerce has been dubbed the most
consequential tax issue of the new millennium.
Bilateral tax treaties, which are frequently negotiated variants of the OECD Model
Tax Convention, address the tax treatment of cross-border commerce. Article 7 of
the OECD Model states that a foreign entity with a significant physical presence in
the source country may impose taxes on profits from commercial activity conducted
within its borders. The presence of such an entity must meet three requirements in
order to be considered a permanent establishment for the purposes of source
taxation. These include the existence of a distinct location, such as premises or, in
some cases, machinery or equipment (the place-of-business test); and the
requirement that this location be established with a certain level of permanence test),
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