Documents/BIBE/9: Cross-Border Laws/9.1: Transaction Rules

9.1: Transaction Rules

Harmonize rules on cross-border transactions.

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Rules on cross-border transactions should be harmonized in order to facilitate innovation and get the greatest economies of scale from new technology. We need international agreements harmonizing national rules so that the current "Tower of Babel" doesn't undermine fiscal efficiencies or utilization of digital platforms. A World Economic Forum study ranked collaboration with other governments to reduce the complexity of compliance requirements as the most important priority. Leaders in a number of different countries see cross-border differences as problematic and in need of resolution.

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