Data is a valuable commodity in today’s economy, with most industries depending on it. Commodities are traded, but sharing data between relevant parties is not easy because of numerous safeguards. Only a coordinated effort from private and public-sector stakeholders will ensure data flows to where it is needed securely but efficiently.
Crossing borders involves a myriad of challenges, including compliance with different tax regimes. Multinational enterprises, as the name implies, operate in multiple nations and face multiple tax regulations. International coordination of tax rules is crucial, especially as the digital economy grows, to address the inconsistencies and inequities of a patchwork system. In partnership with other organizations, the World Bank is working toward a more consistent and fair global taxation structure.