E-Business Taxation - Literature review Example

E-BUSINESS TAXATION By E-Business Taxation E-commerce refers to any commercial transactions conducted through electronic networks including the provision of information, promotion, marketing, supply, order or delivery of goods or services though payment and delivery relating to such transactions, which might be conducted off-line . In the context of e-commerce, some business activities that might be considered in determination of business operations include sourcing of content, procurement of goods, promotions, advertisement, selling, updating and maintaining the website, uploading and downloading of contents among others. E-commerce taxation is a global phenomenon that poses a challenge to governments all-over the world and even businesses. Socio-economic reality of contemporary organisations has made businessesto face the necessity to look for instruments that would facilitate effective acquiring, processing and analysing of vast amounts of data that come from different and dispersed sources and that would serve as some basis for discovering new knowledge. Management information systems (MIS) have been supporting organisations in their different tasks. However, today many IT systems have undergone significant depreciation. Up until now, existing management information systems (MIS, DSS, ES, and EIS) have not always met decision makers’ expectations such as making decisions under time pressure, monitoring competition, possessing such information on their organisations as well as carrying out constant analyses of numerous data. They simply do not handle integration of different, dispersed, and heterogenic data well, they cannot interpret such data in any broad contexts effectively and they are not capable of discovering new data interdependencies sufficiently. Importance of Taxation in E-commerce E- Commerce involves all aspects of trade — technology communications, business-to-business trade, business-to-user commerce, business portals, new business models, the development (and decline) of stock markets, new promotion strategies, and appealing strategic associations and partnerships. E-commerce helps in looking for the influx of new forms, new strategies, and fresh relationships. Since electronic commerce connections are more liable to cross international boundaries than non-e-commerce dealings, e-commerce actions may be subjected to a quagmire of contradicting national as well as local rules and set of laws. The present regulatory surroundings inhibits the capability of businesses to move e-commerce business around the planet in the most proficient and optimal way. The E-commerce Taxation in Europe The EU has articulated the intent "...of being the most spirited and active knowledge-based financial system in the planet, equipped to sustain economic development with more jobs and superior social cohesion”. All the same, e-commerce should promote privileged taxation even though it has actually never been deemed critically Europe. All together, parallel attempts are in progress in the OECD that are possible to condition everything the EU does, due to the need for synchronized solutions. This kind of taxation has its share of controversies. Some of the controversy stems from such notions as the idea that e-commerce is somehow so special that governments should not tax it. E-commerce gets more of the headlines, probably because it is recognized as an important new feature of the global economy. It does beg fundamental questions about the way the taxation systems work – whether it is taxation of company profits or taxation of private consumption. The technology that makes e-commerce what it is puts more of a spotlight on the possible challenges to effective taxation – just how do you tax a cyber-business or all those sales over the net? E-commerce makes international trade in particular so much easier, and so the debate about taxation moves up the international level. The second part of this paper demystifies the whole concept of e-commerce taxation, merits,demerits, issues that have arisen in relation to e-commerce and some of the laws that govern this kind of taxation. Development of Management Information Systems Business Intelligence (BI) systems provide a proposal that faces needs of contemporary organisations. Main tasks that are to be faced by the BI systems include intelligent exploration, integration, aggregation and a multidimensional analysis of data originating from various information resources. Systems of a BI standard combine data from internal information systems of an organisation. They also integrate data coming from the particular environment such as statistics, financial and investment portals, and miscellaneous databases. Such systems are meant to provide adequate and reliable up-to-date information on different aspects of enterprise activities. As the first research results show, the BI systems in question contributes to improvement and transparency of information flows and knowledge, management. They also enable organisations to follow profitability their sold products, analyse expenditures, monitor corporate environments, and discover business anomalies, and frauds. Just as any other business enterprise, ecommerce has its share of advantages and disadvantages. Among the advantages of e-commerce is that e-commerce overcomes geographical limitations.If an individual has a physical store,they are limited by the geographical area that they can service. With an e-commerce website, the whole world is the businessperson’s entire market provided there is internet. Secondly, e-commerce comparably requires lower operational costs of the business. In terms of personnel, the automation of checkout, billing, payments, inventory management, and other operational processes lowers the number of employees required to run an ecommerce setup, even in real estate. An ecommerce merchant does not need a prominent physical location, travel, and time and costs are also eliminated or significantly reduced in e-commerce. The reduced costs can in turn be transferred to the consumer in the form of lowered prices of goods and services. This form of business also makes it easy for the consumer to locate the product more quickly compared to other forms of business. Additionally e-commerce provides comparison-shopping where the consumers have more than one outlet, which they can simultaneously compare in terms of pricing and quality of goods and services. E-commerce Top of Formalso ensures that abundant information about goods and services is provided to the consumer. There are limitations to the amount of information that can be displayed in a physical store. It is difficult to equip employees to respond to customers who require information across product lines. E-commerce websites can make additional information easily available to customers. Most of this information is provided by vendors, and does not cost anything to create or maintain. Another advantage of e-commerce isthat it helps create targeted information.Using the information that a customer provides in the registration form, and by placing cookies on the customers computer, an ecommerce merchant can access a lot of information about its customers. This, in turn, can be used to communicate relevant messages. An example: If you are searching for a certain product on Amazon.com, you will automatically be shown listings of other similar products. In addition, Amazon.com may also email you about related products. There is also the availability of markets in e-commerce. E-commerce websites can run all the time. From the merchants point of view, this increases the number of orders they receive. From the customers point of view, an "always open" store is more convenient. E-commerce creates a market for niche products. This is to imply that buyers and sellers of niche products can find it difficult to locate each other in the physical world. Online, it is only a matter of the customer searching for the product in a search engine. One example could be the purchase of obsolete parts. Instead of trashing older equipment for lack of spares, today customers can locate parts online with great ease. As implied earlier in this paper, this form of business does not come without its downside. The disadvantages include the fact that not all goods can be purchased online. Perishable and large sized goods would in turn incur additional costs in form of transportation and storage hence posing inconveniences.The other disadvantage of e commerce is that it lacks a personal touch. The buyer and seller usually never see face to face but only interact through computer interfaces.E-commerce does not allow the consumer to have the luxury of testing the product before purchasing. A customer cannot touch the fabric of the garment they want to buy. The customer cannot check how the shoe feels on their feet. In many cases, customers want to experience the product before purchase. Ecommerce does not allow these actions. If an individual buys a music system, they cannot play it online to check if it sounds right. This poses a major challenge to the consumers. On the tactical level, BI Systems may provide some basis for decision making within marketing, sales, finance, and capital management (Beer, 2010, p. 34). The systems allow for optimising future actions and also modifying organisational, financial or technological aspects of company performance appropriately in order to help enterprises realise their strategic objectives more effectively. With reference to the operational level, BI Systems are used to perform ad hoc analyses and answer questions related to departments’ ongoing operations, up-to-date financial standings, sales and co-operation with suppliers, and customer relations. Observation of different cases of BI Systems allows the capability of stating that the systems in question may support data analyses and decision making in different areas of organisation performance. These include financial analyses that involve reviewing of costs and revenues, calculation and comparative analyses of corporate income statements, analyses of corporate balance sheet and profitability. It also includes analyses of financial markets and sophisticated controlling, marketing analyses that involve analyses of sales receipts, sales profitability, profit margins, meeting sales targets, time of orders, actions undertaken by competitors, stock exchange quotations; customer analyses that concern time of maintaining contacts with customers, customer profitability, modelling customers’ behaviour and reactions, customer satisfaction. Disadvantages of E-commerce Some of the issues that have arisen in e-commerce taxation include and are not limited to the ones discussed herein. E commerce easesmobile, long-distance, or anonymous transactions when the seller might be external to the territorial power of the taxing government (Kotsimpos, 2000, p. 67). Thus, buyers may not have tocompensate for sales tax on goods purchased from a seller in a different tax jurisdiction, putting on-ecommerce merchants at a disadvantage and contracting overall tax revenues. Incomegenerated by such activity may also be hard to tax fairly. Governments depend on reporting and collection by sellers for the administration of sales taxes, including the European Value-Added Tax (VAT). For income taxes, most international tax mechanisms give priority to the source state. In ecommerce, technology can make it difficult or disconcerting to identify sources. This in turn limits the power of any given state to enforce tax burdens extraterritorially despite the fact that the parties involved in the e commerce transaction can be ascertained. The second concern is the issue of taxes levied on tangible goodslike physical actual or concrete goods.Taxes levied at international borders on tangible goods are progressively employed to equalize sales or consumption taxation between imported goods and domestically produced competitive products. However, these taxes are not enforced to electronically -conveyed services and products. Threshold issues including the pinpointing of a nexus supporting tax jurisdiction are advanced when electronic messages ordevices may conceptually touch the territory ofa state, such as the mere location of a Web server, or the transmission by physical wires or by wireless waves over a state. Treaty rules for taxing business profits use the concept of permanent establishment as a basic nexus rule for determining whether a country has taxing rights with respect to the business profits of a non-resident taxpayer (European Conference on E-Government, & Odonnell, 2010, p. 78). That threshold rule, however, is subject to a few exceptions for certain categories of business profits. The permanent establishment concept also acts as a source rule to the extent that, as a general rule, the only business profits of a non-resident that might be taxed by a country are those that are attributable to a permanent establishment. The basic treaty definition of “permanent establishment” is “a fixed place of business through which the business of an enterprise is wholly or partly carried on”. That definition incorporates both a geographical requirement (for example that a fixed physical location be identified as a permanent establishment) as well as a time requirement. The presence of the enterprise at that location must be more than merely temporary concerning the type of business carried on.In order to be able to conclude that part or the whole business enterprise is carried on through a particular place. That place must be at the disposal of that enterprise for purposes of these business activities. The treaty definition of permanent establishment provides, however, that if the place is only used to carry-on certain activities of a preparatory or auxiliary character, that place will be deemed not to constitute a permanent establishment notwithstanding the basic definition (Schniederjans, Schniederjans & Schniederjans, 2007, p. 17). This is a major concern in ecommerce, as nearly all the establishments fall short the category defined by the treaty hence taxation is a major headache becauseaccording to the OECD in Transfer Pricing Guidelines (1995),a web site cannot in itself constitute a PE. Web site hosting arrangements typically do not result in a PE for the enterprise that carries on business through the hosted web site except in very unusual circumstances. An Internet service provider will not be deemed (under the agent/permanent establishment rule described above) to constitute a permanent establishment for the enterprises to which it provides its services (Cerrillo & Fabra, 2009, p. 78). The issues to do withelectronically conveyed services and digitized products are also imperative in e-commerce taxing. These include whether a particular transaction involving an intangible should be relegated as a service, as a "license" of rights, or as a "sale" of goods. Such transactions range from the provision of customized software to access to data, programs, or games held in a server but exhibited on the screen of the user in a different jurisdiction (Rittman, 2013, p. 28). These issues not only raise sales tax problems but also create uncertainty when income yielded in those transactions are classified as "business profits" or possibly "royalties" paid for rights in intangible property. Domestic statutes taxing international income and bilateral tax treaty provisions usually dictate separate tax rates and other treatment for "business profits" as compared to "royalties". Hence, this becomes a thorn in the flesh of the tax man when dealing with e-commerce establishments. In addition to the above concerns, there is also the issue oflocating the "place of effective management" to demonstrate the resident state of a corporation. Destination becomes a hard concept when the particular product orservice being sold or licensed is"used" in multiple jurisdictions by the buyer (Brooks, 201, p. 43). Even when conceptual issues are clarified by agreement or statute, problemsof practical administration exist in the complexity of reporting, registry, and record keeping that must be retained. They also attract attention to privacy issues involved, and the compliance burden placed on taxpayers and businesses charged not only with collection and payment of the taxes, but also with ascertaining the appropriate tax rates to be applied when those rates vary depending on the location of the user (Palmer, 2010, p. 34). Nexus is a link or contact, which forms the basis of imposition of taxes.It usuallyhappens between the seller and his home state, the seller and the state of the customer, the customer and the state of the seller, the customer and the state of residence, the internet service provider and their resident state.In addition, if nexus subsists for online transactions, the question of what, actually, is subject to sales and/or use tax remains. In general, thiscounts on how the transaction in question is classified under sales and use of tax laws (Craig, 2000, p. 56). Normally, governments distinguish between transactions in tangible personal property, services and intangibles and a variety of approaches of classifying electronic activities under sales and use of tax statutes with little uniformity or guidance in their application (Manzoor, 2010, p. 41). Sales and use taxes are normally levied on retail sales of tangible personal property unless the law provides for a specific exemption or exclusion. "Tangible personal property" typically includes material goods that might be comprehended by the senses. Services are not generally addressed by sales and use tax unless the law specifically enumerates the services as taxed. Although services are less extensively taxed than tangible goods, over the years, there has been a gradual broadening of the tax base for services. Intangibles, such as transfers of stocks and bonds or intellectual property rights, generally are not subject to sales tax. Sales and use taxation of intangible intellectual property rights has been acrucial issue in taxation (Diwan & Sharma, 2000, p. 34). Given the important role, that licensing plays in electronic commerce, it promises to continue tobe crucial inthe future. Taxation in connection with electronic commerce must also take into accountthe unique features of the Internet and other electronic networks. Most tax laws and regulations wereestablished before the rise of electronic commerce, and are rooted in concepts of physical location or presence (Grewlich, 1999, p. 12). Determining the identities of the parties who participate in a transaction,where a transaction is "sited”, and identifying key "taxing points," are often important to the administration oftaxes. These concepts, however, might be difficult to analogize to transactions happening in cyberspace. In response to these emerging issues in e commerce, there was thus a need to establish principles, which were to guide the taxation of these businesses (Rezaul, 2012, p. 67).According to the Taxation Framework Conditions which were delivered at the October 1998 OECD Ministerial Conference “A Borderless World – Realizing the potential of Electronic Commerce” the principles which should apply to ecommerce are: Neutrality:Taxation should seek to be neutral and equitable between forms of e-commerce and between conventional and e-commerce, to avert double taxation or unintentional non-taxation. Efficiency: Compliance costs to business and administration costs for governments should be derogated as far as possible. Certainty and Simplicity:Tax rules should be clear and simple to interpret, so that taxpayers know where they stand. Effectiveness and Fairness: Taxation should produce the right amount of tax at the right timeand the potential of evasion and avoidance should be belittled. Flexibility: Taxation systems should be flexible and dynamic toascertain they keep pace with technological and commercial developments. In the United Kingdom, there was the institution of laws and regulations that govern the establishment and taxation of e commerce enterprises.Primarily, the U.K government instituted legal requirements that are prerequisite for establishment of an e-business. The government enacted three acts and directives, which are: Data Protection Act 1998 Distance Selling Act 2000 Ecommerce Directive 2002 According to the data protection act: (a)You must register under the Data Protection Act if you collect any kind of information about people. These could be your customers, employees or potential customers. This information includes names, addresses, telephone numbers, and email addresses. (b) You must state what you do and intend to do with your subjects data and not deviate from that statement. (c) The Act is applies to any size of business. (d) You must not export the personal data outside the EC (European Community) without permission from the people you are collecting data on. (e) You must ensure that all information is held securely and must be revealed or deleted upon request from the subjects of the information. (f) You must only record data, which is pertinent to your prime business needs. The distance-selling act also stipulates that: (a) You must provide clear information about your products and services before purchase. (b) You must be clear about postage and packing costs as well as whether VAT or any other tax is included in the prices shown on your website. (c) You must provide a written confirmation of order following purchase, for example a confirmation email. (d) You must allow a "cooling off" period whereby the customer can change their mind and cancel or return the order within 7 working days for most goods. Certain exclusions do apply with items such as perishable and digital goods. (e) You must inform your customers of their right to cancel their order with no loss other than return postage and packing. These stipulations, however, do not apply in business-to-business transactions. Finally, the e-commerce directive of 2002 stipulates that: (a) You must display the name of your business, the company registration number (or proprietors name), geographical address (not a post office box number), contact information for example telephone number and email address, VAT registration number (if registered). (b) You may refer to trade or professional schemes if applicable. (c) You must provide clear information on price, tax and delivery to buyers. (d) You must clearly display your sites Terms and Conditions. (e) You must acknowledge all orders. (f) In commercial communication with your customers, you must clearly identify any electronic communication designed to promote your goods or services. (g) You must clearly identify the sender of all electronic communication. (h) You must clearly define any promotional offers and the qualifying conditions regarding these offers. (i) If you send unsolicited emails, you must clearly identify them as unsolicited. Any establishment has to meet the stipulation of the three acts before being allowed to set a shop. On issues to do with remission of taxes in the United Kingdom, there exists the Organisation for Economic Cooperation and Development of which the United Kingdom is a member state alongside other world economies (Khosrow-Pour, 2008, p. 23). The organization has a treaty that member states comply and they have treaty rules and regulations, which have been agreed upon as a basis for taxation of profits in businesses. Some of these rules are: Under the rules of tax treaties, liability to a country’s tax first depends on whether or not the taxpayer that derives the relevant income is a resident of that country. Any resident taxpayer maybe taxed on its business profits wherever arising (subject to the requirement that the residence country eliminate residence-source double taxation) whilst, as a general rule, non-resident taxpayers may only be taxed on their business profits to the extent that these are attributable to a permanent establishment situated in the country (James, 2009, p. 46). There are exceptions to this general rule for instance residence for treaty purposes depend on liability to tax under the domestic law of the taxpayer. A company is considered to be a resident of a State if it is liable to tax, in that State, by reason of factors for example domicile, residence, incorporation or place of management) that trigger the widest domestic tax liability (OECD Ministerial Conference, 1999, p. 7). Another rule on taxes is that the treaty principles for computing the business profits that maybe taxed by a country are similar whether a country has taxing rights over business profits because these profits are those of a resident taxpayer or because these business profits are attributable to the permanent establishment of a non-resident taxpayer. In both cases, the rules for computing the business profits that maybe taxed by the source country are based on the separate entity accounting and arm’s length principles. Thus, each legal person or permanent establishment is generally treated as a separate taxpayer regardless of its relationship with other entities or parts of an entity. Each branch or subsidiary that is part of a multinational enterprise is treated separately for purposes of the computation of profits under tax treaties, with the important proviso (Assimakopoulos, 2001, p. 89).The OECD, in its designated Transfer Pricing Guidelines(1995, in paragraphs 5 and 6 of the preface) identifies the “separate entity approach as the most reasonable means for achieving equitable results and minimizing the risk of unrelieved double taxation. The OECD notes at paragraph 3.49 of the Transfer Pricing Guidelines those traditional transaction methods are to be preferred over transactional profit methods (Benjamin &Wigand, 1995, p. 65). It is recognised at paragraph 3.50 that there are cases of last resort where traditional transaction methods cannot be applied reliably or exceptionally at all and so where transactional profit methods have to be applied. The paragraph concludes that as a general matter the use of transactional profit methods is discouraged. Since 1995, however, there has been a much wider use of profit methods by both taxpayers and tax administrations, especially to deal with the integration of functions within a multinational group Recent years have witnessed numerous discussions on the Business Intelligence issues including OLAP techniques, data mining or data warehouses. However, little attention has been paid so far to questions of creating and implementing BI in organisations. Such questions are rarely analysed in categories of solutions that would facilitate effective decision making and strategic thinking. There is no a sufficient number of guidelines informing how to create systems that might be used as examples of authentic symbiosis of IT and management processes. There also exists treaty rule for sharing tax base between states where there is nexus. Essentially, priority is given to source taxation. The OECD report of 2000 discussed that this priority is ensured by rules that either provide for the exemption from residence taxation of items of income with respect to which a tax treaty grants source taxation rights to the other State or that allow the source country’s tax to be credited against the residence tax on such items. In consideration to ecommerce, questions arose as to the legitimacy of these laws and as is recorded in the OECD article of May 2000, these were argued out and sorted.All said and done, the decision to tax ecommerce has in not without opposition. A school of thought does not buy the whole need of taxation in the ecommerce front. There is the reaction from the industry itself. Consumers and technology vendors take an opposite view from that of the government. It is a feeling that the market and economy is already riddled with confusing multiple discrepant tax rules and thus it is necessary that the government develops a simple consistent system argue that imposing additional taxes on Internet sales could severely hamper existing small and midsize resellers and retailers, and could forestall others from entering the market. They encourage the following objectives for developing a borderless marketplace: 1. Establishment of simple and uniform sales and use tax rules that abridge compliance burdens for all taxpayers. 2. Enact nexus standards for business activity taxes that do away withuncertainty and the potential for double taxation. 3. Advance availability of the Internet to all by prohibiting taxes on access fees. 4. Preclude multiple and discriminatory taxation by extending the application of traditional tax rules to electronic commerce. There was also the reaction to these treaty taxation rules from the managerial perspectives. The Internet is a disruptive technology that has caused major alterations in industry structure, marketplace structure, and business models. The impact on an organization will depend upon the nature of the industry within which it operates and the homogeneity of its competitors. During the next ten years, the roleof accountants will continue to changedramatically and those who continue to play by the old rules may not beable to survive in the customer-driven new economy. Therefore, new forms of accounting such as strategic accounting would appear to have merit. Notwithstanding the importance of strategic accounting and its increasing acceptance by academics and practitioners, strategic accounting researchhas not yet developed into a widely accepted theory. In fact, failure to create a cross-functional perspective that is congenial during organizational alteration will also contribute toa lack of strategic accounting diffusion. Looking forward at the rate at which ecommerce is growing the issue of taxation has to be adequately looked into. The current dearth of neutrality and basic fairness in ecommerce taxation legislation will become more painfully perceptible (at the heart of the debate is the principle that states and other local governments have the right to tax goods sold within their jurisdiction). There are factors that are to be prioritized in any discussion of whether or not ecommerce is to be taxed or not. Chiefly: 1. The proper relationship between federal and the local governments on issues of taxation, and which levels of government ought to bear the responsibility for determining and financing the demands of their citizens and businesses. 2. The necessity of continuing tax policy in neutral terms so that neither traditional retailers nor remote sellers are given an advantage based on tax policy. 3. The need to cease erosion of essential revenue streams that support education and other key public services at the local level Additionally, the key technical issues on the table continue to be: • What comprises taxable presence from the use of the Internet? • What is the tax classification of incomefromelectronic activities (the main consequences being the application of withholding tax and indirect taxes)? • How are taxpayers identified and their transactions audited?These succinct issues have to be considered in the event that tax discussions on ecommerce are being held. Just as the traditional forms of business have to comply with tax policies,there is the need for both the industry players and the government to workout a taxation policy that satisfies the government while also not stifling the growth and vitality of the ecommerce industry so that the ecommerce also remit their taxes. Many in the e-commerce community have tried to stall the taxation issue. Taxes of any kind, they say, would cripple e-commerce just as it is getting off the ground. However, as e-commerce continues to soar, dramatically altering the competitive landscape in many industries, this position is increasingly difficult to defend. Craig 2000.The ecommerce owners should ensure that a fair amount of taxes emanating from online transactions is used in developing the new digital economy in relation to more bandwidth and universal internet access. References Assimakopoulos, N., (2001). Systemic Analysis. University of Piraeus. Beer, G. L. (2010). British colonial policy, 1754-1765. Benjamin, R.I., Wigand, R.T., (1995). “Electronic Commerce: Effects on Electronic Markets”,JCMC 1 (3). Brooks, R. (2013). The great tax robbery: how Britain became a tax haven for fat cats and big business. London, Oneworld. Cerrillo I Martínez, A., & Fabra I Abat, P. (2009). E-justice: information and communication technologies in the court system. 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