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India eyes tariffs on internet economy as global moratorium on digital tax end next week

Updated : December 08, 2019 12:05 PM IST

Since 1998, the World Trade Organization (WTO) members have renewed a ban on import duties on so-called "electronic transmissions", worth up to $255 billion a year by one estimate.
A proposal backed by 21 countries including China and Canada seeks to extend the ban for at least six months when it expires at year-end.
At the top of the scale, a recent UN report said potential annual tariff revenue losses could be up to $10.4 billion a year, with more than $10 billion lost by WTO developing countries.
India eyes tariffs on internet economy as global moratorium on digital tax end next week

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