E-BIZ STRATEGIES LACK INVOLVEMENT OF TAX DEPARTMENT.E-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. will lead to increased competition over the next three years, according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. 51 percent of the respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. in a recent survey of leading Fortune 1000 consumer market companies conducted by KPMG's Consumer Markets Tax Practice.
However, only 24 percent of those surveyed say that their tax department is actively involved in e-business (Electronic-BUSINESS) Doing business online. The term is often used synonymously with e-commerce, but e-business is more of an umbrella term for having a presence on the Web. strategy development.
The survey revealed that although only approximately one-quarter of companies say that their tax department is actively involved in their e-business strategy, nearly half of the same respondents say that their tax department is responsible for implementing tax solutions that support the e-business strategy.
Respondents felt that tax should be a key consideration in the following areas: sales (74 percent), procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. (62 percent), and logistics (59 percent) if a company is to achieve optimal e-efficiency.
The survey also examined tax issues related to business-to-business and business-to-workforce processes. Few respondents have even begun to look at tax savings opportunities in the e-business world beyond business-to-consumer. Only 49 percent of those surveyed have examined business-to-business processes, with even fewer (18 percent) looking into revenue-saving business-to-workforce services.