Markets Wired

WASHINGTON – On October 8, 2021, a historic agreement was reached between over 130 countries of the G20/OECD Inclusive Framework on a two Pillar package of reforms to the international tax framework.  In support of that agreement, in a joint statement on October 21, 2021, the United States, Austria, France, Italy, Spain, and the United Kingdom announced the terms of a political compromise on the transition from existing Digital Services Taxes to the new multilateral solution and to continuing discussions on this matter through constructive dialogue. In light of the continuing multilateral negotiations at the G20/OECD Inclusive Framework, and consistent with our continued commitment to working together to reach consensus, the United States, Austria, France, Italy, Spain, and the United Kingdom have today announced an extension of the political compromise set forth in the October 21, 2021 joint statement through June 30, 2024 consistent with the revised timeline. To read the joint statement on the extension, please click here.

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