International Initiatives In Constraining Offshore RegimesIn general the international organizations have been very supportive and cooperative with regard to developments of electronic commerce. However, the same can not be said of their attitude with respect to the migration of e-commerce towards offshore jurisdictions. The low-tax countries generally favor the migration of e-commerce to offshore jurisdictions since they believe that the tax competition is healthy and will influence other countries to become more efficient. On the other hand, the high tax countries have an opposite opinion by believing that the migration of e-commerce towards offshore jurisdictions can create “unfair” or “harmful” tax competition which would cause illegal losses of tax revenue. For this reason, the international bodies that are representing the high-tax countries are very well trying to create and develop ways to restrict and constrain the development of offshore e-commerce.
The following questions have been addressed in this article:What countries are the high-tax countries?
What is EU Legislation?