Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa today issued a statement following the release of a letter sent from Senate Finance Committee Chairman Chuck Grassley (R-IA) and Ranking Member Ron Wyden (D-OR) to Treasury Secretary Steven Mnuchin regarding the unilateral moves by countries in Europe to establish digital services taxes (DST).
“We thank Senators Grassley and Wyden for weighing in on this important issue and we echo their sentiment that countries should work through the multilateral process and not impose new digital services taxes in a unilateral manner. The NFTC is concerned that DST proposals in Europe discriminate against U.S. companies, and we urge Congress and the Administration to work with their counterparts in Europe and around the world to support a multilateral approach through the OECD that ensures a fair tax structure for U.S. companies globally.”
Full text of the letter can be found here.
About the NFTC
Serving America’s Global Businesses Since 1914– The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.