U.S. reaches deal with Austria, France, Italy, Spain, UK on digital services taxes

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

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)