91 Countries Sign WTO Agreement to Eliminate Taxes on Cross-Border Data Transfers

Monday, 29 July 2024, 12:00

A significant agreement has been reached by 91 countries under the World Trade Organization (WTO) to eliminate taxes on cross-border data transfers, facilitating smoother international trade and digital commerce. This landmark deal aims to foster innovation and enhance the flow of data, critical for the global economy. With this agreement in place, companies can expect reduced barriers in data movement, promoting growth in various sectors. Overall, the decision highlights the growing importance of data in modern trade agreements.
TechRadar
91 Countries Sign WTO Agreement to Eliminate Taxes on Cross-Border Data Transfers

91 Countries Sign WTO Agreement

A significant agreement has been reached by 91 countries under the World Trade Organization (WTO) to eliminate taxes on cross-border data transfers, facilitating smoother international trade and digital commerce.

Key Highlights of the Agreement

  • Elimination of Data Transfer Taxes: Countries will no longer impose taxes on cross-border data transfers.
  • Impacts on Innovation: The agreement aims to foster innovation and enhance the flow of data.
  • Growth in Digital Commerce: Companies can expect reduced barriers in data movement.

Conclusion

This landmark deal is crucial for the global economy, promoting growth in various sectors.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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