The World Trade Organisation enforced an agreement of “Information Technology Agreement “to lower all taxes and tariffs on information technology products by signatories to zero. It came into force on July 1 1997.
Source: cdn2.hubspot.net
What is Information Technology Agreement?
The Information Technology Agreement (ITA) is a significant tariff liberalization arrangement negotiated in the WTO after its establishment in 1995; it led to the elimination of import duties on IT products. It was reached on 13 December 1996, through a “Ministerial Declaration on Trade in Information Technology Products”, at the first WTO Ministerial Conference, held in Singapore.
Product Coverage of the Information Technology Agreement
ITA is a plurilateral trade agreement that requires participants to eliminate their tariffs on a specific list of information technology (IT) and telecommunications products. The lists of products covered by ITA are given below:
Products covered by the Information Technology Agreement
| Computer hardware, subassemblies, and peripherals | Telecommunications equipment telephones and answering machines fax machines modems central office and private branch exchange switching apparatus |
| Computer software computer software on media including floppy and optical discs | Electronic components capacitors resistors semiconductors printed circuits |
| Semiconductor manufacturing and testing equipment chemical vapor deposition apparatus sawing, grinding, and polishing machines dry-etching machines | Office machines word processing machines calculators cash registers automatic teller machines selected photocopiers and parts |
| Measuring, testing, and analyzing instruments flow meters spectrometers various instruments formeasuring and checking liquids and gasses | Miscellaneous products silicon wafers dictionary and translation devices indicator panels proximity cards and tags |
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