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| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
| Offshore Trusts
Guide: OTG publishes news, features and newsletters on the use of
offshore trust structures. |
| TreatyPro: Online
tax treaty resource. |
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| Australia Investigates On-Line Traders |
by Mary Swire, Tax-News.com, Hong Kong
Thursday, July 29, 2010
The Australian Taxation Office (ATO) has disclosed that it has obtained data
from eBay Australia and Trading Post Australia, so as to assess the level of
taxation compliance of individuals and businesses that sell goods or services
online.
The data identifies members of online selling sites who have been involved
in selling goods and services of a total value greater than AUD20,000 (USD17,800)
in any of the past three financial years - 2007-08, 2008-09 and 2009-10.
The ATO has said that it will use this data to improve the compliance with
tax obligations of particular groups of taxpayers. It will help the ATO to identify
individuals and businesses that do not report or under report their sales, as
well as those that operate ‘off the books’ and avoid their obligations
by not registering, lodging returns or making payments.
In addition, the data will also allow the ATO to understand better, and address
the compliance behaviour of, taxpayers involved in online selling. It should
also increase taxpayers’ awareness of the ways the ATO uses data matching
to address tax compliance.
The ATO will contact individuals and businesses that it identifies as at risk
of running part of their business off the books or in other ways not reporting
all their income. It will encourage them to make a voluntary disclosure of any
under-reported amounts. Where appropriate, the data will be used to support
default assessments of a business’s tax liabilities.
A comprehensive report in our Intelligence Report series
examining the new possibilities that offshore e-commerce open up for business,
and analysing the offshore jurisdictions that have led the way in offering professional
e-commerce regimes for international business, with a particular focus on e-gaming,
is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp
and a description of the report can be seen at
http://www.lowtaxlibrary.com/asp/description_report6.asp
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| THE LOWTAX LIBRARY
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
FREE TRIAL NEWS SUBSCRIPTION
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
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