91 Countries Agree on New E-Commerce Rules: Cross-Border Electronic Transmissions Stay Tax-Free
Cross-border electronic transmissions will not be taxed, thanks to a new agreement among 91 countries. This decision extends a moratorium, ensuring free data flow for video, audio, and text. While customs duties are off the table, the door remains open for internal taxes on tech…
Hot Take:
Great news for your Netflix binge-watching addiction: No extra customs duties on your favorite shows and memes for now! But don’t get too comfy; this two-year vacation from taxes might just be an intermission.
Key Points:
- 91 countries agree on new ecommerce norms after five years of negotiations.
- Moratorium on taxing cross-border electronic transmissions extended for two years.
- Agreement includes video, audio, and written text transmissions.
- Potential for future internal taxes on electronic transmissions.
- Support for less developed countries through technical assistance and capacity building.
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