At The 13th Ministerial Conference Held Recently, The World Trade Organization Member Countries Once Again Agreed Not To Impose Customs Duties On The Trade Of Digital Goods
WTO members held MC13 in Abu Dhabi, United Arab Emirates, from February 26 to March 2, 2024. The losses of developed countries are minimal as compared to those of developing countries. Their research estimated that the effect of the moratorium on government revenue would be below 0.33 percent of overall government revenue on average. The study proposed value-added taxes (VAT) as an alternative way to collect revenue from digital trade. This could bite back, and the timing is not right now for the push to import tariffs on digital transmissions, explains Neil Shah, vice president of Counterpoint Research.
Source: Forbes March 11, 2024 08:22 UTC
