- Can't tolerate bullying: Kangana RanautAbRam gets magic in SRK's lifeUnknown facts about Shahid KapoorPriyanka Chopra to attend 2017 OscarsSelect right jewellery for wedding functionsPlastic surgery goes wrong for Ayesha TakiaMy scenes in 'Rangoon' were cut: Kangana RanautA fasting diet may help to reverse diabetes'Rangoon': An impressively immersive filmMahashivaratri Wallpapers and Facebook images
Sanjeev Rajput finished fifth in the mens 50m Rifle 3 Positions event on a disappointing d
Australia plans to tax all digital transactions IANS Last Updated : 11 Jan 2017 09:56:18 AM IST (file photo)
The Australian government plans to tax all online transactions, Treasurer Scott Morrison said on Wednesday, as part of a so-called 'tax strike' on the rapidly-growing digital economy.
Currently, the government is unable to tax all of Australia's approximately $7.37 billion annual online transactions, Xinhua news agency reported.
However, Morrison said on Wednesday that as Australia moves towards a modern, cashless economy, the government must keep up to ensure the tax system remains "modern".
He said after imposing the "Google" and "Netflix" taxes, which ensure multinational corporations and online services were properly taxed for all sales in Australia, the government was aiming at the wider online and digital marketplace to ensure everybody was paying their fair share of tax.
"You've got to make sure your tax base is just not comprehensive but make sure it is modern," the Treasurer said.
"That's not a criticism of anything previously, but you've got to make sure it is keeping pace with the digital economy."
"The tax system will have to change to embrace the new world order when it comes to technology and how people are consuming services," Morrison added.
"The thing about the digital economy is that it is all automatic," Morrison said, adding he expects to introduce changes to the tax system in the May budget.loading...
For Latest Updates Please-
Join us on
Follow us on
Post Your Comment (0 posted):
Kangana credits her success and failures to her growth in Bollywood. "Every single day has
- Fire at warehouse, film city in Bengal, no injuries
- Pics; AbRam gets magic in SRK's life
- No one should instruct adults what to watch: Motwane
- Very rewarding: Taapsee on watching 'Pink' with President
- Kabir Khan slams CBFC for refusing certificate to 'Lipstick...'
- Unknown facts about Shahid Kapoor
- Priyanka Chopra to attend 2017 Oscars
- Big B, Taapsee to watch 'Pink' with President
If you are living in a neighbourhood surrounded by trees and shrubs, with birds chirping
Number of Facebook users across the globe were locked out of their accounts due to an erro