Clinton Opposes 5-Year Internet Tax Moratorium | AccountingWEB

Clinton Opposes 5-Year Internet Tax Moratorium

Earlier this year the House passed a measure to freeze any attempts at an Internet tax for five years. Now that Congress is winding down for the year and attempting to pass many last-minute measures, Clinton has announced that this is one measure that won’t make it through the pipeline.

Although no attempts to push the Internet tax moratorium through the waning days of this Congressional session, the White House is concerned that the House may attempt to tack this measure onto another bill during a last minute bill- signing frenzy.

The bill, which passed in the House, sets a five-year moratorium on Internet access taxes and new, multiple, and discriminatory taxes on electronic commerce; such moratorium is now set to expire in October, 2001. Congress will still be able to address this measure next year.

There is some room for negotiation – the White House has indicated it might not object to passage of a two-year moratorium on Internet taxes.

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked

Editor's Choice

WHAT KIND OF FIRM ARE YOU?
As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.