5G Wireless Networks Could Transform IoT and Taxes

The next two or three years will likely go down as one of the most pivotal time periods in the history of the telecommunications industry, believes Tony Susak, general manager of  Avalara Communications’ tax business. Having worked in the telecom industry for more than three decades, he sees 5G enabling incredible product offerings for both consumer and business applications across industries, while also helping to supercharge Internet of Things adoption. And though there has been considerable speculation about the types of data-intensive applications 5G wireless networks will enable, one topic receiving less scrutiny is how much the technology will cost subscribers and how applications leveraging 5G will be taxed. Accenture estimates that telcos have invested a combined $275 billion on 5G-related technology, while McKinsey notes overall network costs for telcos could double. It is likely the cost for 5G service could be significant.