The SureTax® team just returned from the IT Expo East conference where is it clear that telecom continues to be a growth industry.
Among the takeaways from the conference was the enormous explosion of the M2M (machine to machine) market. Just when you thought the telecom market could not get any more diverse, enter the banana monitoring devices. Yes, that is right - banana monitors.
Apparently bananas are one of the most profitable items in a grocery store, but with the shortest shelf life. So, one ingenious company has developed a monitor to track the stage of ripening on the tree. That information is transmitted to logistics where the process between harvesting, packing, shipping and stocking is timed precisely to maximize the amount of shelf life the bananas have in the store.
This was just one of many examples of telephony enabled devices (in this case wireless network) that are rapidly entering our day to day activities. Rest assured that as these new telecom markets grow, governments will be right behind them, ready to capture new tax revenues.
CCH SureTax is leading the way in research and knowledge for emerging telecom markets such as M2M. As the universe of tax changes, we are here to help.