Washington – Senate Finance Committee Chairman Chuck Grassley (R-Iowa) and Ranking Member Ron Wyden (D-Ore.) today released the following statement on the Organisation for Economic Co-operation and Development (OECD) negotiations regarding taxation of the digital economy.
“We strongly encourage OECD member countries to abandon plans for digital services taxes on U.S. businesses and to continue working toward an agreement on a more realistic timeline given the COVID-19 crisis. We support Treasury continuing to negotiate on these important issues and urge the Inclusive Framework to find areas of consensus that do not unfairly target and discriminate against U.S. companies,” Grassley and Wyden said.
“We agree these negotiations cannot be rushed, particularly at a time when the world should be focused on addressing the current economic and health crises. The proposals under discussion would have a dramatic effect on the global tax landscape, and on U.S. businesses in particular, and they deserve appropriate attention and continued deliberation.
“The OECD is the best venue for resolving these issues, but an agreement should not be reached unless it is fair to the United States and the U.S. business community.”
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