The US withdraws from international digital tax negotiations with European countries, says it'll retaliate if they move forward with new taxes on US tech firms
The breakdown in negotiations could prompt President Trump to retaliate against countries that impose taxes on American tech firms.
FT Exclusive: The US has thrown into disarray plans for a new global tax framework for technology companies after suspending talks with European countries — and warning of retaliation if they press ahead on their own https://www.ft.com/... https://twitter.com/...
Time to look at how tax treaties might be modified to deal with the digital economy, rather than trying to change domestic systems to harmonise them? Vive le bilatéralisme? https://twitter.com/...
Basically - the rest of the world do your digital tax thing, when you're ready to do it on our terms, give us a call. Also likely, US-KE FTA negotiations will fail if NA passes Finance Bill as is + VAT regs U.S. Withdraws From Global Digital Tax Talks https://www.nytimes.com/...
Was it foreseeable? Absolutely, and the uncontrolled unilateralism around the world (i.e. digital services taxes everywhere) played an important role here #taxtwitter U.S. Withdraws From Global Digital Tax Talks https://www.nytimes.com/...