The convenience of the Internet has fundamentally changed the way we think about commerce and the purchase of goods and services.
With virtual sales exponentially growing, countries around the world are beginning to see the effects of this multi-trillion dollar industry though the dilution of “Value Added Tax Revenues”.
Today, governments are facing up to 90% of VAT reductions due to non-collection, leading to an eventual crisis. We call this, the “Virtual Risk”.
Over the last 60 years, the sale of tangible goods and services have allowed money to flow to countries like China with proper collection of VAT, levies, and other taxes.
Areas like the Middle East have also benefitted greatly from these collected revenues from their involvement in the world’s oil and gas industries.
But what about the virtual world?
Since there are currently no systems in place to track online sales, there are billions of dollars being lost in tax revenues. How are countries handling ecommerce sales, online downloads, i-gambling, consumption of ad taxes, and the dilution VATs?
Netsweeper is here to enforce the Internet laws in your country. We propose to put a jurisdictional ring around your country’s virtual networks, policy manage, and apply a patented tax enforcement and collection strategy for virtual sales.
Tax is the foundation of a nation, and the “Virtual Risk” is happening now. Contact the Netsweeper CEO today for a consultation.