A reasearch paper published by the United Nations Conference on Trade and Development (UNCTAD) suggests that the developing country members of the World Trade Organisation (WTO) may be losing about $10 billion tax revenues due to a moratorium on customs duties on electronic transmissions (ET) agreed in 1998 and continued since then.
“The main exporters of these electronic transmissions are firms like Amazon Prime Video, Netflix, Nintendo, Rockstar etc, who are experiencing an unprecedented surge in their sales and profits, while governments are unable to collect any tariffs on these companies' exports due to the existing moratorium, the report points out.
This story is from the July 18, 2020 edition of Mail Today.
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This story is from the July 18, 2020 edition of Mail Today.
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