WTO meeting in Cameroon fails to extend digital tax moratorium
Business
Big news from the World Trade Organization: its meeting in Cameroon just ended with no deal on the long-standing ban on taxing digital goods and services, such as software and streaming.
Since Brazil did not back an extension, countries can now start putting tariffs on digital goods and services we download or stream online.
Countries may set divergent digital rules
This could shake up how digital goods and services move around the world, making them pricier or harder to access.
It also highlights a growing split: wealthier countries want stable rules for online trade, while developing nations are looking to protect their own industries and collect more revenue.
With no moratorium, expect more confusion as different countries set their own rules for digital products.