Digital duties up for debate at WTO as nations seek more revenue from vast e-commerce market

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 63%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

It’s unclear how governments will impose customs duties on electronic transmissions, but consumers will be hit hard if digital duties become a reality

For the past quarter century, the meteoric rise of the digital economy has been exempt from the kind of tariffs that apply to trade in physical goods.For the past quarter century, the meteoric rise of the digital economy has been exempt from the sorts of tariff that apply to trade in physical goods.

“Absent decisive action in the coming days, trade diplomats may inadvertently ‘break the internet’ as we know it today,” International Chamber of Commerce secretary-general John Denton wrote in an opinion piece published last week. While nations could draw somewhere between $280m and $8.2bn in annual customs revenue, new digital tariffs would also harm global growth by reducing economic output and productivity, according to the Paris-based Organization for Economic Co-operation and Development.

To be sure, it’s not immediately clear how exactly a government would impose customs duties on electronic transmissions. Furthermore, the WTO does not define the scope of e-commerce transmissions so there is no clarity as to which online services would be subject to new duties — be it bitcoin cryptocurrency transactions, Airbnb lodging, Uber car rides, Doordash food delivery or Peloton fitness classes.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Few months back I had no way of taking care of my kids , had no job or money also struggling through the pandemic,so I decided to try Bitcoin trading with the help of Allison_Grillo I was able to earn $50,000 now am financially stable.

As a mother of two kids I have battled alot with my financial state to the point of begging from friends just to survive,until I started Bitcoin trading with the help of Allison_Grillo I made a successful withdrawal of R 200,000 with the help of Allison_Grillo.

Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met Allison_Grillo and started Bitcoin trading, I earned R150,000 in 3 weeks thanks Allison_Grillo.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Food security to be top of the agenda at WTO conference - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The fallout on food security from the war in the Ukraine will be at the forefront of discussions at the World Trade Organisation’s 12th Ministerial Conference, which takes place later today in Geneva and will run until 15 June. The Russian blockade of grain exports from the Black Sea threatens global food supplies – but … ScorchedEarth Agenda2030 MSMpaidPuppets Voersek Breaking? 👿💩 Don’t let Stella go there
Source: SABCNews - 🏆 37. / 51 Read more »