Taxation of e‐commerce in Hong Kong: applying UK and US experience
Due to the rapid growth of electronic commerce worldwide, the traditional approach of taxing business profits in Hong Kong, a source‐based common law jurisdiction, warrants a close review as to its compatibility with such a modern way of doing business. Although the Inland Revenue Department of Hong Kong has issued its views on the taxation of electronic commerce profits as Departmental Interpretation and Practice Note 39, much of the treatment of such profits follow the conventional wisdom of taxing business profits as set in the source‐based rules. This paper reviews the present situation of taxing profits arising from electronic commerce transactions in Hong Kong and compares it with the cases of the UK and the USA. Problems in formulating water‐tight tax law, accounting standards for intangible assets, and coping with cross‐border fraud, indicate that progress may not be straightforward. Issues as to fairness, and the difficulty of taxing such receipts are raised, followed by recommendations.
A Mobile-Agent-Based E-Commerce Taxation Model
With the rapid growth of e-commerce worldwide in the recent years, the e-commerce taxation issue is attracting more and more attention all over the world. Tax evasion, mitigation and avoidance in electronic commerce is a growing menace. To curb this aggravating problem, modern technologies are employed for the purpose of eliminating tendencies of avoidance. The purpose of this paper is to try to solve the problems with technological means. On the basis of the e-commerce taxation workflow, we first propose the two novel concepts of the electronic invoice (EI) and the electronic tax voucher (ETV) in this paper. Then, we present a mobile-agent-based e-commerce taxation model and give the implementation and the simulation of the model by the means of Aglets platform
Comparative study of the molecular species of chloropropanediol diesters and triacylglycerols in milk fat
In an effort to establish the origin of the fatty acid esters of 3-chloropropanediol, which recently have been isolated in small amounts from goat milk, we compared the molecular species composition of the chlorohydrin diesters and of goat milk triacylglycerols. The chloropropanediol diesters were found to be composed of molecular species containing C10−C18 fatty acids and corresponded closely in carbon number to those calculated for the long chain sn-1,2-diacyl-glycerol moieties of goat milk triacylglycerols. The molecular species of goat milk total triacylglycerols contained C4−C18 fatty acids. It is suggested that triacylglycerols and chloropropanediol diesters are derived from the same pool of long chain fatty acids. A molecular distillate of bovine milk fat did not contain chloropropanediol diesters, while the available samples of human milk fat were shown to contain alkyldiacylglycerols as the major components of a neutral lipid fraction corresponding in polarity to the chloropropanediol diesters.