What is best way to migrate taxonomy and tagging from SPO site to another SPO?
I have find Share gate tool for that, but i am not sure so can any body suggest if any other tools or manual migration for the same?
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The "best practice" (and probably also the easiest approach nowadays) would be using PnP Provisioning in one of its flavours:
(I did this in the past using PnP PowerShell, at that point in time the engine was clumbersome when dealing with taxonomies and I had to tweek it a bit, but later the issues were resolved, good luck! (no pun intented)