The emergence of the internet has brought various changes in almost every field of daily life. The usage of the internet is growing rapidly. The internet is not only a resourceful medium for communications and entertainment, but it has proven itself a prospective channel for the sale of goods and services…
companies are selling their products or services online. Since this is a new medium for commerce and as the global marketing of goods or services is growing enormously, there is a need for redrafting the legal environment suitably. The legitimate revenues to the governments were previously realized through taxes on sales, as applicable under the standard law. This new face of marketing which is termed electronic commerce has once again highlighted the need for creating new laws to safeguard the interests of the customers as well as the manufacturers and revamping the source for taxes to be levied. The changes, which result from electronic commerce and related technology offer significant benefits to business, consumers and government. They increase convenience, efficiency and productivity and reduce costs. It is important to look forward to the changes and how they will influence the current tax laws as they relate to maintaining consistent revenue flows and taxpayer equity.
In the U.S., the emergence of the electronic commerce has left a prominent impact on the telecommunication, information and computer sectors, advertising, publishing and media industries. The issues brought forth by the electronic commerce, which relate to sales tax and use tax, have attracted the attention of the federal, state and local governments. Promoting the growth of internet commerce is inevitable because of its potential in generating revenues and jobs and increasing productivity. However, the state and local governments are dependent on a consistent inflow of revenues to maintain essential services. Sales and use tax account for 36.7 percent of overall tax revenues. There is a need for a cooperative and simplified sales and use tax system to provide for efficient and equitable taxation of interstate commerce. The Internet Tax Freedom Act created the Advisory Commission on Electronic Commerce and this commission recommended that while the internet should not be taxed more than other channels, it should not permit the avoidance of tax. The remote vendors argued that imposition of sales tax collection responsibilities in all of the thousands of the taxing jurisdictions in the U.S. would create an unacceptable burden (Pennsylvania Department of Revenue, September 22, 1999).
The doctrine of sovereign immunity, in international law, permits a court to give up its jurisdictional rights in respect of foreign enterprises or countries. This doctrine has as its bases the traditional notions that a sovereign should not be subject to litigation in a foreign court. The result is that, investors may be unable to obtain relief in their country's legal system. In some countries, this doctrine's application to commerce has been limited.
While, contracting with a private party if a foreign nation does not allow itself to be subject to the local laws, then recourse to U.S. courts in case of breach is not possible. The Foreign Sovereign Immunities Act provides a uniform rule for the determining sovereign immunity in respect of legal actions in the US courts. The provisions of the Act are that under international law, countries fall under the jurisdiction of foreign courts in their commercial activities, and that their commercial property can be appropriated to satisfy the judgments in connection with their commercial activities. Business with foreign partners can result in problems that are not encountered in domestic business. Issues of jurisdiction, ...
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“Electronic Commerce Response Essay Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.net/miscellaneous/311054-electronic-commerce-response-essay.
E-commerce Name Tutor Course Electronic commerce essay The internet is among the most radical technologies that changes the business setting. The web has had an intense impact on the use of electronic commerce. The upcoming of electronic commerce, has resulted to the change of power to the consumer, this has led to changes in the way companies relate to the consumer.
Online auctions have in recent years demonstrated themselves to be a popular forum for fraudulent activities. Sellers and Internet auction operators, including overseas based sellers and operators, need to be aware of their potential liability under the provisions of Part V of the Trade Practices Act 1974 (Cth) ("TPA") and/or equivalent State and Territory Fair Trading legislation (for example, the Fair Trading Act 1987 (NSW)), where they sell or are involved in the sale of products to Australian consumers.
Primarily, the US legal system adapts new issues arisen from e-commerce and virtual relations. It revised many legal issues such as privacy, protection, ownership, etc. E-commerce has changed the role and nature of legal obligations between the parties. Virtual economic transactions become legal and equal to traditional commerce.
Today that sort of hype is over and now we can analyze that worked at that time and what did not. We are now much more aware of what business and commerce require electronically and about information technology. This paper is an effort to give you a glimpse that what is going in the financial institutions and supply chain with regards to the e-commerce.
In his research, Forrester concluded that commercial transactions in the electronic world are worth US $12.2 billion in 2003 in the United States alone. In the UK, the highest reported figure is 2 billion per month.
In e-commerce, the basic rules of contract law usually apply to contracts created either via electronic mail (email) or a web based contract.
The selling prices generally reflect the recommended retailing prices apart from weekly special discounts on selected CDs and books.
The purpose of the report is to provide a value added feasibility and business analysis of the viability of book store business online considering the factors like environmental analysis for going online, the advantages and demerits of e-commerce based businesses, techniques and methods to be a successful online business by increasing sales and customer base, and the risks that should be considered when transactions take place over the internet.
ated by EC which is the only solution to the business pressures such as market and economic pressures.”(Turban, 2006) Response activities range from the daily processes such as payroll, order entry to the critical responses concerning the supply chain. So, applying of EC may
The business model of prosper.com has unique characteristic that differentiates it from the traditional lending business model. For example, in the business model of prosper.com there is no intermediary, since a borrower gets funds directly from the lender while
d an environment in which our children could discuss their experiences and challenges with us and we encouraged them to share with a family friend who was also a counselor. I therefore did not expect to deal with a case of risky sexual behavior and pregnancy.
Denial would be my
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