New Zealand Proposes Tax On E-Commerce
Published:
29 June 2001 y., Friday
The New Zealand government is proposing additional taxes on imported services that could be imposed toward the end of 2002.
The taxes would apply to software and other digital services provided over the Internet.
If the proposals are adopted, services purchased from outside New Zealand will be subject to the goods and services tax (GST). The proposals, announced Wednesday, are currently under discussion until the end of August. The e-commerce-related provisions propose to slap the GST on any imported digital products and services supplied by overseas companies. This would include any software downloaded from the Net.
The recipient business in New Zealand will have to pay the GST rather than the overseas supplier, making foreign services less attractive. There are special rules for telecommunication companies, which will not be subject to this reverse charge unless they supply services in excess of 40,000 New Zealand dollars ($16,640). Those that do - and don't have an office in New Zealand - will be required to register for New Zealand GST if they wish to continue providing services.
Analysts including KPMG Consulting said Wednesday the financial services and banking industry would be most impacted by the changes.
Šaltinis:
Newsbytes
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Software company announced new structure_ of it_s business.
more »
The iPhone's new “ATM Hunter” is a a free iPhone application built by MasterCard that allows users to quickly find the ATMs that are closest to them.
more »
In security breach cases last year, such as Hannaford Bros. supermarket and the card processing firm Heartland Payment Systems, cybercriminals gained access to millions of consumers' credit card details.
more »
Ingenico, a provider of payment solutions, says contactless technology will split the retail market this year, improving sales figures for early adopters and costing those who shun the additional investment in this burgeoning technology.
more »
Widevine Technologies today announced that the US Patent and Trademark Office has reconfirmed the validity of many claims of Widevine's U.S.
more »
Nokia Corp., the world's largest maker of cell phones, is making a large investment in California-based Obopay Inc., a startup that's pushing person-to-person mobile-payments technology.
more »
The increasing amount of overlap and duplication of data, tasks and processes in their anti-fraud and anti-money laundering divisions is driving banks to seek synergies between compliance, risk management and security, according to a new report from Datamonitor.
more »
The total number of IPTV subscribers worldwide passed the 20mn mark at the end of 2008, according to new figures from Informa Telecoms & Media, taking into account both disclosed and estimated figures.
more »
The IPTV World Forum opened its doors this morning on a bright London day, and the mood was equally optimistic indoors, with the conference rooms packed for keynote presentations from Christopher Schläffer of Deutsche Telekom, Christophe Forax from the European Commission and the BBC's Richard Halton, charged with making Project Canvas a reality.
more »
A new Gartner Inc. report suggests that financial fraud could drive consumers away from banks and into the arms of electronic payment systems, such as PayPal, that they perceive to be more secure.
more »
In the last year this more than doubles the number of cards and devices in circulation around the world.
more »