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Special Reports

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, Chile Work Towards Enhanced Free Trade Agreement, by Mary Swire, Tax-News.com, Hong Kong Wednesday, September 6, 2017
China and Chile recently held a third round of talks towards upgrading their free trade deal. [ FULL STORY ]
China, Norway Resume Free Trade Agreement Talks, by Mary Swire, Tax-News.com, Hong Kong Tuesday, August 29, 2017
After a six-year diplomatic freeze, China and Norway have resumed talks towards a free trade agreement, with a ninth round of talks held in Beijing August 21-23. [ FULL STORY ]
Luxembourg's E-Commerce VAT Revenues Plunge, by Ulrika Lomas, Tax-News.com, Brussels Friday, July 21, 2017
Value-added tax revenues from e-commerce activities in Luxembourg have declined sharply in the wake of European Union measures to reduce VAT competition in the EU. [ FULL STORY ]
ATO Says Compliance Rates High Among Larger Firms, by Mary Swire, Tax-news.com, Hong Kong Thursday, July 6, 2017
The Australian Taxation Office estimates that the corporate tax gap for large businesses is around six percent, according to Commissioner Chris Jordan. [ FULL STORY ]
Google Not Liable For French Back Tax, Says Court Adviser, by Ulrika Lomas, Tax-News.com, Brussels Friday, June 16, 2017
An adviser to an administrative court in France has said that Google is not liable for EUR1.1bn (USD1.2bn) in back taxes because the company lacks sufficient presence in the country. [ FULL STORY ]
EU, China Add To Customs Cooperation, by Ulrika Lomas, Tax-news.com, Brussels Monday, June 5, 2017
The European Union and China have signed a Strategic Framework for Customs Cooperation for the years 2018-2020. [ FULL STORY ]
EU Parliament Signs Off On Cut-Rate VAT For E-books, by Ulrika Lomas, Tax-News.com, Brussels Friday, June 2, 2017
The European Parliament on June 1 voted in favor of proposed changes to EU value-added tax law to introduce a reduced rate of VAT on e-books, to bring their treatment into line with that of printed matter. [ FULL STORY ]
Pakistan Budget Boosts Start-Ups, Tech Sector, by Mary Swire, Tax-News.com, Hong Kong Thursday, June 1, 2017
Pakistan announced a number of tax changes in its 2017/18 Budget, delivered on May 26. [ FULL STORY ]
Russia Begins Levying Google Tax, by Tatiana Smolenskaya, Tax-News.com, Moscow Monday, April 17, 2017
Over 100 foreign providers of electronically supplied goods and services to Russian consumers have registered to pay value-added tax on their supplies at 18 percent. [ FULL STORY ]
OECD Holds Global Forum On VAT, by Ulrika Lomas, Tax-News.com, Brussels Monday, April 17, 2017
Approximately 300 participants, representing over 100 delegations from countries, jurisdictions, and international organizations gathered in Paris for the fourth meeting of the OECD Global Forum on VAT on April 12-14, 2017. [ FULL STORY ]
Australia To Pursue Seven MNEs Under New Anti-Avoidance Law, by Mary Swire, Tax-news.com, Hong Kong Thursday, April 6, 2017
The Australian Government has announced that the tax office has assessed AUD2.9m (USD2.2m) in tax liabilities against a group of seven multinational companies. [ FULL STORY ]
EU, ASEAN Look To Restart Trade Talks, by Ulrika Lomas, Tax-News.com, Brussels Tuesday, March 14, 2017
The EU and the Association of Southeast Asian Nations have agreed to take new steps toward resuming region-to-region trade talks. [ FULL STORY ]
Canada Counts Revenue Lost On E-Commerce Imports, by Mike Godfrey, Tax-news.com, Washington Monday, March 6, 2017
The Canadian Government is losing up to CAD1.3bn (USD972m) in revenue a year through the incomplete collection of sales tax and import duty on e-commerce imports, according to a new report by Copenhagen Economics. [ FULL STORY ]
Canada Urged To 'Modernize' Internet Advertising Tax Rules, by Mike Godfrey, Tax-news.com, Washington Tuesday, January 24, 2017
A new report by advocacy group Friends of Canadian Broadcasting calls on the Government to close a loophole it says allows the tax deductibility of advertising expenses for foreign internet-delivered media. [ FULL STORY ]
Google To Pay EUR280m In Back Taxes To Italy: Reports, By Ulrika Lomas, Tax-News.com,Brussels Thursday, January 12, 2017
Google has agreed to pay up to EUR280m to settle corporate income tax said to be due to the Italian Revenue Agency, according to Italian media reports. [ FULL STORY ]
Amazon Collects Sales Tax In Four More US States, by Glen Shapiro, Tax-News.com, New York Thursday, January 5, 2017
With Amazon agreeing to begin the collection of sales taxes on January 1 in four more US states – Iowa, Louisiana, Nebraska, and Utah – the online retailer is informing its customers that taxes are now charged on items shipped to 32 states. [ FULL STORY ]
Taiwan's VAT On Online Retailers Becomes Law, by Mary Swire, Tax-News.com, Hong Kong Monday, January 2, 2017
On December 28, Taiwan's President Tsai Ing-wen signed into law the amendment to the Value-Added and Non-Value-Added Business Tax Act to impose tax on foreign online sellers' supplies to Taiwanese consumers. [ FULL STORY ]
US Supreme Court Rejects Online Sales Tax Case, by Glen Shapiro, Tax-News.com, New York Wednesday, December 14, 2016
The US Supreme Court has denied a review of its 1992 "Quill" decision restricting sales taxes on online sales, by not taking up a case against Colorado's internet sales notice and reporting law. [ FULL STORY ]
Taiwan's Parliament Approves VAT On Online Retailers, by Mary Swire, Tax-News.com, Hong Kong Tuesday, December 13, 2016
Taiwan's Legislative Yuan has approved the Finance Ministry proposal to impose value-added tax on foreign online sellers' supplies to Taiwanese consumers. [ FULL STORY ]
US Congress Urged Not To Pass Online Sales Tax Bill, by Scott Hamilton, Tax-News.com, Washington Wednesday, December 7, 2016
On December 6, Americans for Prosperity, Americans for Tax Reform, Heritage Action For America, and FreedomWorks wrote to the members of Congress calling on them to oppose any attempt to pass US internet sales tax legislation, such as the Marketplace Fairness Act, before the end of this year. [ FULL STORY ]
EU Announces Massive Overhaul To EU Digital VAT Rules, by Ulrika Lomas, Tax-News.com, Brussels Friday, December 2, 2016
The European Commission on December 1 unveiled a series of measures to improve the value-added tax environment for e-commerce businesses in the EU. The proposals are intended to enable consumers and companies – in particular start-ups and SMEs – to buy and sell goods and services more easily online. [ FULL STORY ]
China, New Zealand To Upgrade FTA, by Mary Swire, Tax-News.com, Hong Kong Tuesday, November 22, 2016
The launch of negotiations to upgrade the existing China-New Zealand free trade agreement was announced on November 21, following a meeting between Chinese Commerce Minister Gao Hucheng and New Zealand's Trade Minister Todd McClay at the Asia-Pacific Economic Cooperation Summit in Lima. [ FULL STORY ]
Ibec Calls For Irish Gov't Action On Brexit Risks, by Jason Gorringe, Tax-News.com, London Tuesday, November 15, 2016
Irish business group Ibec has called on the Government to introduce a comprehensive package of new measures to "head off the worst consequences of Brexit and increased global uncertainty." [ FULL STORY ]
Malta To Push EU VAT Reform As EU President, by Ulrika Lomas, Tax-News.com, Brussels Tuesday, November 8, 2016
Malta will take forward the EU's proposals on VAT reform when it assumes the Presidency of the Council of the EU in January 2017, the territory's Minister of Finance, Edward Scicluna, told a recent conference. [ FULL STORY ]
Australia Pushes Ahead With GST On Low Value Imports, by Mary Swire, Tax-News.com, Hong Kong Friday, November 4, 2016
The Australian Government has published draft legislation that, if passed, will require certain overseas suppliers to account for goods and services tax on sales of low value goods. [ FULL STORY ]
EU Committee Of The Regions Welcomes VAT Proposals, by Ulrika Lomas, Tax-News.com, Brussels Friday, October 14, 2016
Members of the European Committee of the Regions have signalled their broad support for the European Commission's Action Plan on VAT. [ FULL STORY ]
China, Georgia Successfully Complete FTA Negotiations, by Mary Swire, Tax-News.com, Hong Kong Friday, October 7, 2016
On October 5, China's Ministry of Commerce and Georgia's Ministry of Economy and Sustainable Development signed a memorandum of understanding to mark the successful conclusion of substantive negotiations on a bilateral free trade agreement. [ FULL STORY ]
Taiwan To Levy VAT On Online Retailers, by Mary Swire, Tax-News.com, Hong Kong Monday, September 26, 2016
Taiwan's Executive Yuan has approved a Finance Ministry proposal to impose value-added tax on foreign online sellers' supplies to Taiwanese consumers. [ FULL STORY ]
EU: VAT Reform Vital To Fix EUR160bn VAT Gap, by Ulrika Lomas, Tax-News.com, Brussels Tuesday, September 6, 2016
The European Commission has said new figures revealing that the value-added tax gap was EUR160bn in 2014 demonstrates the need for member states to get behind its proposals for far-reaching EU VAT rule reform. [ FULL STORY ]
Taiwan To Tax Cross-Border e-Commerce, by Mary Swire, Tax-News.com, Hong Kong Tuesday, August 16, 2016
Given the recent rapid development of cross-border transactions over the internet, Taiwan's Ministry of Finance has disclosed it is formulating plans to tax the operations of multinational enterprises engaged in e-commerce in the country. [ FULL STORY ]
 
 
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