Date: 22/02/2024

Govt may not extend moratorium on Customs duties on e-commerce

India is unlikely to extend the moratorium on the imposition of Customs duties on electronic transmissions at the WTO’s 13th Ministerial Conference (MC13) in Abu Dhabi this month, as there is no consensus on its scope and it benefited mostly developed nations. Developing countries lose an estimated $10 billion every year in revenue because of the moratorium, per calculations made by the UNCTAD in a study. For India, it could be over $500 million every year. India, with support from South Africa, is also set to oppose efforts made by several countries, including China, for a plurilateral pact on investment facilitation for development, as it is a non-trade issue falling outside the purview of the WTO, said a report.
Source: Exim News Service: New Delhi, Feb. 21