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US reaches deal with Austria, France, Italy, Spain, UK on digital services taxes

  • >> Reuters
    Published: 2021-10-21 23:03:04 BdST

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The logos of Amazon, Apple, Facebook and Google in a combination photo. Reuters

The United States reached a deal with Austria, France, Italy, Spain, and the United Kingdom on digital services taxes (DST) on Thursday, the US Treasury Department and the US Trade Representative said.

Under the deal, "DST liability that US companies accrue during the interim period will be creditable against future income taxes accrued under Pillar 1 under the OECD agreement", the USTR office said.

In return, the United States will terminate the currently-suspended additional duties on goods of Austria, France, Italy, Spain, and the United Kingdom.