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Special Reports
by First Atlantic Commerce, Bermuda

KNOWLEDGEBASE

FACT FILE

A thorough reference file of up-to-date information compiled by our expert editors and arranged in easily accessible sections. The fact file covers taxation and regulation of offshore e-commerce, the facilities and services needed, and reviews the business sectors and functions which can make use of offshore e-commerce
- Taxation of Offshore E-commerce
- Regulation of Offshore E-commerce
- Offshore E-commerce Facilities
- Offshore Professional and Financial Services
- Offshore E-commerce Applications

JURISDICTIONS

The jurisdictions section of Offshore-e-com.com has in-depth analyses of e-commerce in three leading jurisdictions - Bermuda, Gibraltar and the Isle of Man - and has links to summaries of e-commerce development in 25 other offshore jurisdictions
- Jurisdictions Menu

E-COMMERCE GLOSSARY

The Offshore-e-com.com glossary explains the meaning of many abbreviations and technical terms met with in offshore e-commerce
- Full Glossary

BUSINESS GUIDE

No-one likes to pay too much tax, and the overall burden of tax in the world's larger business jurisdictions is heavy not just in itself, but also imposes substantial and worsening administrative burdens on a business. Regulation in general just gets more and more complex, in addition.
Prior to the Internet, there was little that most types of business could do to rduce tax and regulation, although individual owners were often able to go 'offshore' with the proceeds of their work, and increasingly did so as tax levels rose. Individual tax levels have fallen back to some extent, and in some countries, but the taxman has become more efficient, and the classical equation of working onshore and enjoying offshore becomes ever harder to sustain.

The Internet has changed the equation, and this site attempts to explain why and how almost all businesses can substantially reduce their tax bills and preserve wealth by taking advantage of offshore e-commerce. This section in particular offers practical help in choosing a jurisdiction and in setting up an offshore e-commerce operation.

E-SHOP BASICS

Describes how to go about setting up an entry-level e-commerce retailing operation, in case you want to do it yourself.

LOCATION

Describes the criteria that should be applied to choosing an offshore jurisdiction.

GETTING STARTED WITH OFFSHORE E-COMMERCE

Describes the criteria that should be taken into consideration when starting an offshore e-commerce operation.

CASE STUDIES

There are so many variable factors in the situation of each company, including business sector, ownership structure, country of origin, size, capital structure and level of profitability, to name just some, that it is hardly possible to illustrate the principles of offshore e-commerce in any general way. Still, case studies can show typical sequences of steps needing to be taken when going offshore, even if the detail will be different in each case.

The six case studies in this section cover six of the more likely business situations in which offshore has a lot to offer; but the truth is that the Internet has made it possible for almost every business in a high-tax country to get advantage offshore.

For direct assistance with establishing an offshore e-commerce operation, see our E-commerce Business Guide.

- Electronic Products Business to Business Case Study
- Electronic Products Consumer Case Study
- Physical Products Business to Business Case Study
- Physical Products Consumer case Study
- Offshore Banking and Financial Services Case Study
- Offshore Corporate Functions Case Study

SPECIAL REPORTS

Special Features on E-Commerce in Guernsey & Ireland, Gibraltar & Dubai, and Mauritius and Netherlands Antilles are available in the Reports Library along with other previous Special Features.


China To Enforce Tax And Registration System For E-Commerce, by Mary Swire, Tax-News.com, Hong Kong Last updated 19 hours ago | Monday, February 08, 2010
In accordance with 'Internet Information Services' (State Council Order No. 292), the Beijing Bureau of Industry and Commerce, responsible for business registration and regulation in China, said it wishes to revive 2008 plans to register and tax e-commerce in order to 'standardize its regulation and combat illegal Internet activities, promoting the integrity of the system'. [ FULL STORY ]
US Congress Debates Internet Sales Tax Question, by Mike Godfrey, Tax-News.com, Washington Last updated 25 hours ago | Monday, February 08, 2010
The US House Judiciary Subcommittee on Commercial and Administrative Law has sat to discuss 'State Taxation: The Role of Congress in Defining Nexus.' The Tax Foundation advocated a physical presence standard in written testimony, especially in an age of e-commerce. [ FULL STORY ]
Belgium Introduces Tax On Digital Storage Devices, by Ulrika Lomas, Tax-News.com, Brussels Thursday, January 28, 2010
From February 1, 2010, the Belgian government aims to impose an additional tax on the purchase of USB keys, MP3 players and external hard disks to pay for the reproduction of audio and audiovisual works. [ FULL STORY ]
UK Think Tank Questions Necessity Of Telecoms Taxation, by Robert Lee, Tax-News.com, London Monday, January 18, 2010
A new report from UK think tank Policy Exchange has called into question the use of a telecommunications tax to fund proposals for introducing high speed broadband nationwide. [ FULL STORY ]
Spain Seeks Larger Share Of Online Gambling Tax Revenue, by Ulrika Lomas, Tax-News.com, Brussels Thursday, January 14, 2010
The various provincial and federal gaming authorities of Spain that together participate in the Sectoral Gaming Commission have met at the Ministry of the Interior in Madrid to discuss regulation of the Spanish online gaming sector. [ FULL STORY ]
Hopes Pinned On Legalized Online Gambling To Rescue Estonian Gaming Revenues, by Ulrika Lomas, Tax-News.com, Brussels Monday, January 11, 2010
From the beginning of 2010, online gambling is being licenced and taxed in Estonia in an effort to boost public finances through taxes on gaming operators. [ FULL STORY ]
France Proposes 'Google Tax' To Protect Cultural Heritage, by Ulrika Lomas, Tax-News.com, Brussels Monday, January 11, 2010
A report presented recently to the French Culture Ministry has proposed a series of measures designed to improve the legitimate supply of cultural services provided over the Internet and their financing, including most notably the introduction of a new tax to be levied on the online advertising revenue derived by Internet giants such as Google. [ FULL STORY ]
UK Proposes New Licensing Regime For Overseas Online Gambling Firms, by Robin Pilgrim, LawAndTax-News.com, London Friday, January 08, 2010
UK Sports Minister Gerry Sutcliffe wants to bring in new licence requirements for overseas-based online gambling firms who want to have a customer base in Britain. This would help to broaden the tax base of gambling activities. [ FULL STORY ]
US E-Commerce Sales Rise 5% Over Christmas 2009, by Leroy Baker, Tax-News.com, New York Tuesday, January 05, 2010
Retail e-commerce spending in the US for the holiday season from November 1 through Christmas Eve reached approximately USD27bn, an increase of 5% over the same period a year ago, according to a report by comScore inc, digital market consultants and statisticians. [ FULL STORY ]
Google Pays Modest Tax On UK income, Reports Claim, by Robin Pilgrim, LawAndTax-News.com, London Tuesday, December 29, 2009
The UK press has become critical of internet giant Google after accounts were published that appear to indicate that the company paid minimal UK corporate income tax. [ FULL STORY ]
S Korea Sees Illegal Online Betting Surge, by Mary Swire, Tax-News.com, Hong Kong Wednesday, December 23, 2009
Illegal gambling on horse racing in Korea, primarily online, could have increased to KRW30 trillion (USD25.5bn) – up to 10 times the 2004 level, according to Korean Institute of Criminology research. [ FULL STORY ]
Ladbrokes: EU Advocate General E-Gaming Opinion Unfavorable, by Ulrika Lomas, LawAndTax-News.com, Brussels Tuesday, December 22, 2009
Ladbrokes plc has criticized the European Advocate General's opinion as being unfavorable as regards its case against Dutch gaming law. [ FULL STORY ]
Intrastate Online Gambling Gets Hearing In California, by Mike Godfrey, Tax-News.com, Washington Friday, December 18, 2009
A consortium including the Morongo Band of Mission Indians and the Commerce Casino want to set up and operate poker websites in California, and the chair of the Governmental Organization Committee, state Senator Roderick Wright (D-Inglewood, Los Angeles County), said that he wants hearings to take place in February 2010. [ FULL STORY ]
OECD Publishes 2009 Comparative Science, Tech and Industry Scoreboard, by Ulrika Lomas, Tax-News.com, Brussels Friday, December 18, 2009
The Organization for Economic Cooperation and Development Science, Technology and Industry Scoreboard 2009 illustrates and analyzes a wide set of indicators of science, technology, globalization and industrial performance in major countries. [ FULL STORY ]
Forex Provider OANDA Establishes Dubai Office, by Lorys Charalambous, Tax-News.com, Cyprus Friday, December 11, 2009
OANDA, a provider of Internet-based forex trading and currency information services to individuals, banks and financial institutions, has formed the OANDA Middle East Corporation Ltd and opened a Dubai office. [ FULL STORY ]
Wired Safety Study: Online Gambling Prohibition Does Not Work, by Mike Godfrey, Tax-News.com, Washington Thursday, December 10, 2009
Wired Safety, an Internet Safety and Educational charity, has produced, as testimony before the House Financial Services Committee in Washington DC, a study which examines a range of harms potentially associated with online gambling, and alternative methods for mitigating or minimizing them. [ FULL STORY ]
Polish Online Gambling Prohibitions Will Affect Sponsorship, by Ulrika Lomas, LawAndTax-News.com, Brussels Monday, December 07, 2009
Polish President Lech Kaczynski has implemented a clampdown on gambling in Poland which limits gambling to a few casinos and restricts the number of gaming machines in each casino. [ FULL STORY ]
IOM Bolstered By Shipping And Aircraft Registries' Success, by Amanda Banks, Tax-News.com, London Thursday, December 03, 2009
An economic report, presented to the Isle of Man’s Council of Ministers this week, has shown that efforts to diversify the island’s economy, particularly the shipping and aircraft registry, are continuing to bear fruit for the Manx economy. [ FULL STORY ]
IRS Issues Proposed Regulations On Card Transaction Reporting, by Glen Shapiro, LawAndTax-News.com, New York Wednesday, November 25, 2009
The US Internal Revenue Service has issued proposed regulations under a new statute requiring that, starting with transactions in calendar year 2011, the gross amount of payment card and third-party network transactions be reported annually to participating merchants and the tax authority. [ FULL STORY ]
UK Broadband Tax Will Backfire, Says Phone Company, by Robert Lee, Tax-News.com, London Wednesday, November 04, 2009
The proposed GBP0.50 tax on telephone landline bills is the wrong approach to funding Britain's future broadband needs and will likely backfire on the government should it pass into law, according the Charles Dunstone, the chief executive of telecoms firm TalkTalk. [ FULL STORY ]
First Non-Latin Domain Names Imminent, by Mary Swire, for LawAndTax-News.com, Hong Kong Wednesday, November 04, 2009
The first internet addresses consisting entirely of non-Latin characters are imminent following approval of the new Internationalized Domain Name Fast Track Process by the Internet Corporation for Assigned Names and Numbers board. [ FULL STORY ]
Internet Governance Goes Global, by Glen Shapiro, LawAndTax-News.com, New York Wednesday, October 07, 2009
The Internet Corporation for Assigned Names and Numbers has been reconstituted into a global private-sector non-profit making organization. The US Department of Commerce no longer has sole control over this entity, which is so important to the overall functioning of the internet. [ FULL STORY ]
eBay Canada Forced To Disclose More Sellers' Records To Tax Man, by Mike Godfrey, Tax-News.com, Washington Friday, October 02, 2009
The Canada Revenue Agency has broadened its clampdown on the tax affairs of online sellers, issuing eBay Canada with a court-authorized requirement compelling the company to release the account information and sales data of Canadian resident eBay members who have made significant transactions via the site. [ FULL STORY ]
Airlines Aim To Cut Credit Card Fraud Costs, by Ulrika Lomas, Tax-News.com, Brussels Tuesday, September 29, 2009
On September 24, the International Air Transport Association announced the launch of two new services to help airlines reduce costs and manage risk associated with credit card operations. [ FULL STORY ]
ECJ Sides With Google In Trademark Infringement Case, by Ulrika Lomas, Tax-News.com, Brussels Monday, September 28, 2009
In an opinion delivered to the European Court of Justice, Advocate General Miguel Poiares Poiares Maduro suggests that internet search engine Google has not committed a trademark infringement by allowing advertisers to select keywords corresponding to trade marks, although, if taken up by the full court, the opinion could leave the door open to future challenges of Google's AdWords service. [ FULL STORY ]
HMRC Outlines VAT Position On Insurance Introductory Services, by Robin Pilgrim, LawAndTax-News.com, London Friday, September 25, 2009
HM Revenue and Customs, the UK tax authority, has advised that it will pay out claims for overpaid value added tax on insurance introductory services pending a decision by the Court of Appeal in the Insurancewide/Trader Media Group case. [ FULL STORY ]
Skype's Former Owners Sue eBay, by Mike Godfrey, Tax-News.com, Washington Tuesday, September 22, 2009
The Swedish founders of Skype, Niklas Zennstrom and Janus Friis, through their company Joltid Ltd, are suing eBay Inc and a group of prospective investors in Skype for breach of copyright. [ FULL STORY ]
Manx Telecom Obtains Disaster Recovery License From E-Gaming Regulators, by Philip Morton, Investors Offshore.com Tuesday, September 08, 2009
Manx Telecom has announced that it has been licensed as an approved e-Gaming Disaster Recovery Provider by the Isle of Man Gambling Supervision Commission. [ FULL STORY ]
ATO Warns Of Danger To Tax Security From Cyber Crime, by Mary Swire, Tax-News.com, Hong Kong Monday, August 31, 2009
Australia’s Assistant Treasurer, Nick Sherry, has referred to an Australian Taxation Office submission to a Parliamentary inquiry highlighting the growing dangers of cyber crime. [ FULL STORY ]
Business As Usual For FAC Despite Hurricane Bill, by Phillip Morton, Investors Offshore.com Wednesday, August 26, 2009
Bermuda-based First Atlantic Commerce Ltd, a leading international, online multi-currency payment gateway, has announced that it has been “business as usual” on the island, despite Bill, a Category Three hurricane, passing 166 nautical miles west-southwest of the island. [ FULL STORY ]
 
 
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