COMPANIES INCOME TAX AND THE DIGITAL ECONOMY

Introduction

The world’s most popular media company Facebook, creates no content. The world’s most popular retailer Ali Baba carries no stock, and the world’s largest accommodation provider, AirBnB, owns no property.

The above quote is as pertinent as it is trite. Straits Times notes that digitization has led to the emergence of new business models and increased international trade, while removing the need for a company to have physical presence in a country to conduct business with its residents.

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