аЯрЁБс>ўџ .0ўџџџ-џџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџьЅСq П bjbjt+t+ "AAџџџџџџ]ђђђђђђђ8> JYЖjjjjjjlж т джжж2   $єœDђъ jjъ ъ D6 ђђjjj6 6 6 ъ Lђjђjдђђђђъ д6 ž6 дђђдj^ 1”ыС6 дАФУХСљКЯВЪЙйЭјзЪСЯ Seminar on "Revenue Implications of Ecommerce" The Barbados Statement - Senator Goddard АФУХСљКЯВЪЙйЭјзЪСЯ headquarters Geneva Monday, 22 April 2002 Electronic commerce provides the opportunity of the developing world for a significant period of economic expansion in an increasingly networked world. It provides the potential for more sustainable development, the creation of better jobs, expanded world trade and improved social conditions. It offers the potential for breaking the cycle of incremental change with marginal improvements or stagnation by vastly improving efficiency, reducing transactional cost and expanding both markets and products at an unprecedented rate. New challenges have arisen and will continue to arise in areas such as taxation, where governments will continue to seek to protect revenue streams. We believe that this should be done without distorting economic/technological choices. Any changes require a reassessment of the effectiveness of government policies towards commerce and of traditional commercial practices and procedures, most of which were formed in an analogue world with a different image of commerce in mind. Present experiences with electronic commerce fall into two broad categories. They are trade in physical goods such as books, computers or automobiles, and the trade in digital products such as software, music and video products, and a growing number of services. Because of the nascent stage of development of electronic commerce there is much uncertainty about the nature of trade that will take place in intangible or digital products and a difficulty in determining the classification of such products as goods or services. There is also the transition of the delivery of a particular product from a physical product such as a music CD or video DVD to, a direct digital download to a hard drive of a computer to consider. At present all electronic commerce physical products are taxed at the port of entry through the application of import duties and VAT. However, electronically transmitted products such a software, music and video, escape both import duties and VAT. This loss in revenue must be balanced with the need to encourage the growth of electronic commerce to maximize the sale of goods and services from Barbados to the rapidly expanding global electronic market place. At the same time physical goods ordered through electronic commerce create an audit trail that allows for speedy and efficient collection of import duties and VAT which facilitates the collection process by improving discipline, speed and transparency. In light of the potential for the expansion of the economy by utilizing electronic commerce to economically reach a much wider market place and to focus on specific high yield customers, we believe that it would not be prudent to implement direct taxation on the trade in digital products and services delivered through the means of electronic commerce at this time. Thus Barbados should support the provisional agreement to not introduce any new tax on electronic transmissions through which digital products and services are delivered. We stand to gain much more from the expanded use of electronic commerce and the resultant growth of the economy. We must also be mindful of the rapidly changing technological environment and the introduction of Internet II that will exponentially expand the range and complexity of electronic commerce through the introduction of high speed transmissions coupled with much enhanced security. This will introduce new products and new ways of conducting business in a way that is unpredictable at this time. Barbados will continue to develop systems that integrate with electronic commerce that facilitates the clearance of goods through the port for physical goods. In this regard there is an existing system of integration of express delivery carriers operations with the customs department. This facilitates the automatic download of an aircraft's manifest upon take off which allows for the automatic generation of tax computation for entire manifest and the payment of all import duties and VAT for all cargo upon landing. This system will be expanded to all air and sea freight carriers. In summary, we perceive that Barbados as well as many other developing countries, stand to gain much. more by maintaining an environment for the growth and development of electronic commerce than by introducing new, cumbersome and restrictive measures to tax digital products and services. Our experience to date does not indicate a significant loss in revenue while there has been a positive contribution in several areas. This includes the expansion of the hospitality industry and the development of repeat customers; direct marketing of local products and the development of new business opportunities. __________ . /. 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