Abstracts » Business

The Internet taxman cometh

Article Abstract:

Tax authorities in the US, Europe and other countries are beginning to look into the possibility of taxing Internet commerce. This is because government officials realize the vast potential of electronic commerce. According to estimates from Jupiter Communications, a New York-based information technology consulting firm, about $27.2 billion worth of goods and services will be sold via Internet commerce in 2001 in the US alone while governments could net $1.08 billion from this industry. Despite the impending taxation of transactions on the Internet, companies continue to invest in electronic commerce initiatives.

Tax Law, Public Finance Activities, Specialized Telecom Services, Wired Telecommunications Carriers, Business Regulation NEC, Taxation, Internet, Electronic commerce, E-commerce

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Derivatives exposed

Article Abstract:

Federal accounting standard standard (FAS) 133 requires publicly traded companies to include information about their derivatives portfolio in their annual reports as part of the move towards more openness with shareholders. The measure, enacted by the Federal Accounting Standards Board following disastrous speculative trading, has drawn a mostly negative reaction from bankers and treasurers. Among the criticisms leveled against FAS 133 are its inability to distinguish between short-term contracts and hedging against currency and the strict requirements of the standard.

Financial Regulation NEC, Financial services, Derivatives (Financial instruments), Financial Accounting Standards Board

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Personal preference

Article Abstract:

Bloomberg and Reuters are two popular online information providers that supply stock exchange data to businesses. Assistant treasurer Ching-Meng Chew of Medtronic reveals that Reuters is being paid extra by the company for real-time information. Such is undertaken since information being supplied by some Internet news wires are usually several minutes delayed. Three Reuters terminals are being leased by Medtronic to supply its nine-person treasury team stock exchange data.

Securities and Commodity Exchanges, On-Line Information Services, Videotex & Teletext, Security and commodity exchanges, Securities Exchanges, Online services, Stock-exchange, Stock exchanges, Exchanges, Information services, Reuters Ltd., Bloomberg

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