E-COMMERCE AND INTERNATIONAL TAXATION: MAJOR PROBLEMS ASSOCIATED WITH TAXATION OF ONLINE TRANSACTIONS CHAPTER ONE 1.0 Introduction “The invention of the steam engine two centuries ago and the harnessing of electricity ushered in an industrial revolution that fundamentally altered the way we work, brought the world’s people closer together in space and time, and brought us greater prosperity. Today, the invention of the integrated circuit and computer and the harnessing of light for communication have made possible the creation of the global internet and an electric revolution that will once again transform our lives.... One of the most significant uses of the internet is in the world of e-commerce. Already it is possible to buy books and clothing, to obtain business advice, to purchase everything from gardening tool to high-tech telecommunications equipment over the internet. This is just the beginning. Trade and commerce on the internet are doubling or tripling every year and in just
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Showing posts from September, 2008