“The General Data Protection Regulation (GDPR) replaces the EU’s 1995 Data Protection Directive 95/46/EC. The GDPR has been developed to strengthen and unify online privacy rights and data protection for individuals within the European Union (EU) while streamlining the data protection obligations of businesses serving EU citizens through a single Regulation instead of 28 different National laws.
On 8 April 2016 the Council adopted the GDPR and an associated Directive. And on 14 April 2016 the Regulation and the Directive were adopted by the European Parliament.
On 4 May 2016, the official texts of the Regulation and the Directive were published in the Official Journal of the European Union. The Regulation will apply from 25 May 2018.
The 28 EU Member States have implemented the 1995 rules differently, making it difficult and costly for EU businesses to operate across internal borders and considerable gross differences in enforcement. It is estimated that the elimination of this fragmentation will lead to savings for businesses of around €2.3 billion a year across the European Union”.