Lucy/Electronic Commerce/240words Industry has welcomed a slew of proposals put forward by the European Commission aimed at creating a single market regulatory framework for electronic commerce.
The Commmission wants to bring electronic commerce networks under the protection of EU wide rules so that Europe can compete more effectively with the US.
?The US have the advantage because of infrastructure and PC penetration but the EU?s attraction will be the creation of a single market,? said Mr Mario Monti, single market commissioner at the EC.
A number of regulatory initiatives have been suggested in the area of electronic payments, financial services contracts, copyright, legal protection of conditional access services and digital signatures. But the overall aim is to dismantle existing legal and regulatory barriers and avoid the creation of new ones.
?We need to create a regulatory framework which will encourage business to invest in electronic commerce products, services and infrastructure and give consumers confidence to make use of e-commerce opportunities,? said the report.
The Commission has ruled out the introduction of new Cyber taxes claiming that ?there is no need to introduce new, alternative taxes within the framework as EU electronic trade in goods and services clearly falls within the scope of Value Added Tax, in the same way as more traditional forms of trade do.?
The proposals will be formally presented to the EU?s Council of Ministers, the European Parliament, the Economic and Social Committee and the Committee of the Regions.
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