Question

Define taxation and encryption policy e business management

Answer 1

According to Greenstein and Ferman3 "electronic commerce (e-commerce) is defined as the use of electronic transmission medium ( telecommunication) to engage in the exchange, including buying and selling of products and services requiring transportation either physically or digitally from location to location."

E-commerce is any transaction completed over a computer-mediated network that involves the transfer of ownership or rights to use goods or services. According to European Commission4, e-commerce encompasses more than the purchase of goods online. It includes a disparate set of loosely defined behaviours such as shopping, browsing in Internet for goods and defined behaviours, gathering information about items to purchase and completing the transaction like any other sustained business activity. It also means conducting consumer satisfaction surveys, capturing information about consumers and maintaining consumer databases for marketing promotion and other related activities.

The first phase of e-commerce threw up a new business nomenclature using various combination of business and consumers5. It has its own advantages and disadvantages6 as in traditional business methods. Thus, e-commerce has necessarily changed the world economy in a dynamic and interactive pattern.

Answer 2

There is a major debate going on worldwide regarding the taxation issues on e- business management.  The risk factor involved with transacting online and the encryption processes involved for security measures makes the whole process very challenging on e-business management

Explanation:

• Managing the process of taxation through e-business management involves important aspect of taxation which is different in different countries. There could be issues of double taxation, tax evasion, or tax loss which make the entire process very complex and challenging for finance institutions.
• There is a major risk factor involved in transacting and communicating online through the e-commerce platforms and e-business management across the different countries. The security aspect and verifying the identity of the person is not an easy task in e-business management  
• E-commerce today plays an important role for the people all over the world. It has made life very easy for them to buy and sell things they need or desire through the e-commerce platforms from any part of the world. Taxation and encryption of data has an important role to play in the various transactions.

To know more about encryption policy on e-commerce

What is an importance of encryption in e-commerce communications.

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