oday. While existing laws at least address how traditional routes for the transportation of goods and service are to be regulated, a legislative vacuum exists when it comes to the regulation of this new “information superhighway” of the 21st century. Internet commerce, while not currently a major force, will in all likelihood become a fixture of International commerce. Not only does Internet commerce occur on a national level but it has global implications as well, since the development of the Internet has no national boundaries. Many countries have been imposing different forms of legislation based on how they feel Internet transactions should be handled. There are supporters and opponents on both sides that feel a tax-based system for e-commerce would be either beneficial or unsuccessful. However, a careful review of the arguments of both sides leads to one important conclusion: There would be a potential loss of sales tax revenues for state and local governments. Policy makers and practitioners alike, must deal with the potential ramifications of Internet commerce. Otherwise, government will lose a potentially substantial source of revenue and lose control of its borders. In the end, questions as to why there is international controversy over transactions made over the Internet as compared to those not made over the Internet are still hard to determine. Therefore, a universal set of standards needs to be implemented so there will be no further controversy over future e-commerce transactions. ...
