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.
Taxing Celebrity Social Media Endorsements Income: A Preliminary Study of Instagram Celebrities
This study investigates how tax treatment should be done for a celebrity of Instagram (Celebgram) income obtained from endorsement activities on social media. In detail, this study aims to find out how income from endorsement can be used as taxable income as well as to discover how a possible collection strategy can be executed. In addition, this study explores the perceptions of celebgrams regarding the application of tax to their endorsement income. Semi-structured interview was employed to obtain the data. Informants of the current study are tax official, tax consultants, tax academics, information technology experts, and five celebgrams. The results of this study reveal that celebgram income from endorsement can be taxable in the categories of income tax and value-added tax. The majority of the celebgrams agree if their income from endorsement would be taxed on as far as the level of fair and clear treatment. Furthermore, endorsement tax collection needs a special unit and support by a capable employee and adequate information technology.
Anatomy of a Fraud: Inside the Finances of the PTL Ministries
Jim and Tammy: Their Background and Beliefs Rags to Riches and the Birth of PTL Four Days and Three Nights.'' United States v Bakker and Overview of Related Proceedings Where Were the Corporate Officers? Where Was the Board of Directors? Insights into the Civil Trial Where Were the Auditors? Where Was the ECFA? The Purchase of PTL: Reverend Morris Cerullo and Arthur Andersen Epilogue Appendix Index.