- The World Trade Organization (WTO) circulated a draft text of the E-commerce Agreement under the Joint Statement Initiative (JSI) on Electronic Commerce.
- The agreement focuses on streamlining global digital trade and includes commitments to prohibit customs duties on electronic transmissions and promote e-invoicing.
- Over 90 WTO Members participated in the agreement, including the European Union (EU), with the aim of establishing global rules for digital trade and supporting inclusive growth.
- The participants are working on integrating the agreed text into the WTO legal framework, but consensus among all WTO Members is required, and the final shape of the agreement is uncertain.
- The agreement addresses various aspects of digital trade, such as paperless trading, data exchanges, consumer protection, personal data protection, cybersecurity, and e-payments.
Source PwC
Latest Posts in "World"
- CREATE Framework: Crafting Effective AI Prompts for Tax and Accounting Professionals
- Countries Show Renewed Interest in Digital Tax Talks, Says OECD Official
- VAT Concepts Explained: News Items & Podcasts Covering the VAT Topics That Matter Most (WIP)
- VAT Concepts Explained: Where in the World is VAT? The “GPS of VAT”: Place of Supply for Goods and Services
- Peppol e-Invoicing: What It Is and How It Impacts Your Business and VAT Compliance
