France is reported to have reached an agreement with the US to suspend collection of its 3% revenue-based digital services tax until the end of 2020. The US had been threatening to impose retaliatory tariffs of up to 100% on some French goods. Both countries support the OECD’s ongoing work to find an international solution to taxation of the digital economy by the end of 2020.
Comments by US Treasury secretary, Steven Mnuchin, indicate that the UK’s digital services tax, due to be introduced from April 2020, is also under threat of US retaliatory tariffs.
In a statement at the World Economic Forum in Davos this week, OECD secretary-general Angel Gurría called on other countries, including the UK, to delay introducing unilateral measures for taxation of multinational technology companies until agreement can be reached on an international solution.
According to the BBC, a spokesman for HM Treasury said: ‘We’ve committed to introduce our digital services tax from April 2020. It will be repealed once a global solution is in place’.
France is reported to have reached an agreement with the US to suspend collection of its 3% revenue-based digital services tax until the end of 2020. The US had been threatening to impose retaliatory tariffs of up to 100% on some French goods. Both countries support the OECD’s ongoing work to find an international solution to taxation of the digital economy by the end of 2020.
Comments by US Treasury secretary, Steven Mnuchin, indicate that the UK’s digital services tax, due to be introduced from April 2020, is also under threat of US retaliatory tariffs.
In a statement at the World Economic Forum in Davos this week, OECD secretary-general Angel Gurría called on other countries, including the UK, to delay introducing unilateral measures for taxation of multinational technology companies until agreement can be reached on an international solution.
According to the BBC, a spokesman for HM Treasury said: ‘We’ve committed to introduce our digital services tax from April 2020. It will be repealed once a global solution is in place’.
