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Electronic commerce is an important part of the growth of the internet. As the name connotes, electronic commerce refers to a wide array of commercial activities carried out through the use of computers, including on-line trading of goods and services, electronic funds transfer, on-line trading of financial instruments, electronic data exchanges between companies and electronic data exchange within a company over the internet (which is referred to as information high way). This method is a sharp contrast with the traditional method of transaction which was/is done over the counter and face to face with the parties involved.

The US Department of Commerce defines it as any transaction conducted over the internet or through internet access, comprising the sale, lease, license, offer or delivery of property, goods, services or information, whether or not for consideration and including the provision of internet access. [29]

Tax on the other hand refers to monetary charge imposed by the government on persons, entities, transaction or property to yield public revenue. [30] Tax systems operate on some basic principles on which a government is meant to be guided in designing and implementing an equitable tax regime. These include;

Adequacy- which means that taxes should be just enough to generate revenue required for the provision of essential public service.

Broad basing- taxes should be spread over as wide as possible across the population or sectors of the economy to minimize the individual tax burden.

Compatibility- here, taxes should be coordinated to ensure tax neutrality and overall objectives of good governance.

Convenience- taxes should be enforced in a manner that facilitates voluntary compliance to the maximum extent possible.

Earmarking- this simply means that tax revenue from a specific source should be dedicated to a specific purpose only when there is a direct cost and benefit linked between the tax and the expenditure, such as the use of motor fuel tax for road maintenance.

Efficiency- tax collection efforts should not cost an inordinate high percentage of tax revenues.

Equity- taxes should equally burden all individuals or entities in similar economic circumstance.

Neutrality- taxes should not favor any one group or sector over another, and should not be designed t本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。