WASHINGTON D.C. – National Foreign Trade Council (NFTC) President Jake Colvin released the following statement in response to the compromise by the United States, Austria, France, Italy, Spain, and the United Kingdom regarding the removal of digital services taxes (DSTs):
“This compromise is a welcome step towards removing discriminatory unilateral services taxes from the global tax landscape and ratcheting down global trade tensions.
“NFTC appreciates the efforts of Treasury Secretary Janet Yellen and U.S. Trade Representative Katherine Tai and the ongoing attention of the U.S. Government to removing this patchwork of measures.
“It’s critical for the Biden Administration to continue to prioritize the complete removal of these unilateral measures, including those implemented or under consideration by other jurisdictions not subject to the announcement, to avoid further fracturing of the global tax system and trade frictions.”
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 its member companies through its office in Washington D.C.