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A Proposal For Electronic Transactions Tax Collection (ETCC) In The Context Of Tax-Driven Reform Of Banking Laws

Posted: 25 Sep 1998  

Duncan Bentley

Bond University School of Law

Patrick Quirk

Ave Maria School of Law; Thomas More Law School; Bond University School of Law

Date Written: September 1998

Abstract

This paper is concerned with the interface between banking, electronic commerce, and taxation. The heavy regulation of financial institutions means that they are the ideal intermediaries for governments to use in the revenue collection and administration process.

This paper outlines a proposal for the implementation of Electronic Transactions Tax Collection (ETTC) that aims to protect the integrity of the banking system, fit within the framework of proposed financial sector regulation, have a minimal impact on legitimate electronic commerce, and assist governments in efficient revenue collection.

The model we propose is collection of tax on electronic trade transactions where the transactions involve the transfer of funds. Electronic Money Providers (EMPs) would be required to extend their encryption programs to include a micro-version of an ETTC program.

The paper suggests national and international steps for implementation of ETCC from an Australian perspective.

Suggested Citation

Bentley, Duncan and Quirk, Patrick, A Proposal For Electronic Transactions Tax Collection (ETCC) In The Context Of Tax-Driven Reform Of Banking Laws (September 1998). Available at SSRN: https://ssrn.com/abstract=127248

Duncan Bentley (Contact Author)

Bond University School of Law ( email )

Gold Coast, QLD 4229
Australia
+61 7 55 95 1111 (Phone)
+61 7 55 95 2246 (Fax)

Patrick Quirk

Ave Maria School of Law ( email )

1025 Commons Circle
Naples, FL 34119
United States
(239) 687-5303 (Phone)
(239) 687-5340 (Fax)

HOME PAGE: http://www.avemarialaw.edu

Thomas More Law School ( email )

Level 20, Tenison Woods House, 8-20 Napier St
North Sidney, NSW 2060
Australia

Bond University School of Law ( email )

Gold Coast, QLD 4229
Australia
+61 7 55 95 1111 (Phone)
+61 7 55 95 2246 (Fax)

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