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 giants to support local journalism.
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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