Introduction

Manuel C. Solbach

Chapter 1 in International Business Transactions and Taxation, 2023, pp 1-3 from Springer

Abstract: Abstract Business transactions are the base of every economic action. The way a society agrees to do business influences setup and prosperity of its economy. In the simplest and ancient way, a business transaction takes place between a seller and a buyer at the same time at the same place, typically by exchanging goods or services against each other or against money by providing a receipt thereof. This ancient, original desire of mankind for (international) trade has been codified in the ancient Code of Hammurabi more than 3500 years ago already. Business transactions today are intimately linked to business strategy, more specifically to the distribution strategy, which has become increasingly international, especially after World War II. Markets are globalized for a broader set of people in many regards: goods, services, travel, and vacation. World Bank figures document this in the increase in the export of goods and services from around 2 trillion in 1970 to around 24 trillion USD (constant 2015 USD) with increasing pace from the 1990s on and drawbacks following the economic crisis in the 2009 and the effects of the COVID-19 pandemic in 2020. Three basic transactional models are available for domestic and international business: Direct Business, Merchandize Business or Agency Business.

Date: 2023
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DOI: 10.1007/978-3-031-39240-5_1

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