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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: FUZFO who wrote (39296)	3/16/1998 8:33:00 AM
From: Glenn D. Rudolph	Respond to of 61433

Australia's Howard says no Internet 'bits' tax Reuters Story - March 16, 1998 04:05 %AU %POL %DPR MSFT %FIN V%REUTER P%RTR MELBOURNE, March 16 (Reuters) - Australian Prime Minister John Howard said on Monday that his government was keen to reap the benefits of the information economy, and would not seek to tax electronic commerce or put a 'bits' tax on the Internet. Speaking at a World Economic Forum Dinner, which Microsoft Corp chairman Bill Gates will also address, Howard said that by building on Australia's solid economic and political fundamentals he aimed to make Australia the leading financial centre in the region after Tokyo by 2000. Howard said he was keen that the Internet was used to enhance government services, and was also committed to capturing the benefits of the information economy for the country. Business and consumer confidence would be fostered "through a light touch regulatory framework," he said. "We will facilitate electronic commerce by ensuring that goods ordered and delivered electronically will remain Customs duty free and that there will be no 'bits' tax on the Internet," Howard said. Howard said he also intended to use Australia's solid fundamentals as a means to sell the country as an investment location. Pointing to low inflation and interest rates, fiscal responsibility and a target for average growth of over four percent during the decade to 2010, Howard said these had given Australia the best chance of riding out flow-on effects from Asia's current turmoil. "In a global environment where capital is increasingly mobile, the key to Australia's attractiveness as an investment location will continue to be the strength of our economic foundations," Howard said. "Our goal is that Australia become the leading financial centre on our region after Tokyo by the year 2000," he said.