Academic journal article Journal of Accountancy

White House Calls for Internet Tax Harmony

Academic journal article Journal of Accountancy

White House Calls for Internet Tax Harmony

Article excerpt

The White House released on July 1 a final report on the Clinton administration's electronic commerce initiatives. A Framework or Global Electronic Commerce urges consistent international treatment of taxes and duties on Internet commerce, including uniform regulation of its standards and licensing requirements. "We seek to establish basic rules on international electronic commerce, with minimal regulation and no new discriminatory taxes," said President Clinton when he announced the publication of the report.

The president also signed a proclamation to implement an information technology agreement the terms of which were set at the World Trade Organization in Geneva in March. The agreement eliminates tariffs on a number of types of computers, semi-conductors and telecommunications technologies by the year 2000. "Eliminating tariffs on these goods will amount to a $5 billion cut in tariffs on American products exported to other nations," said Clinton.

Principles of U.S. initiative

The White House report lists five principles intended to limit restrictions and facilitate the growth of Internet commerce. …

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