PARIS (Reuters) – Austria, Britain, France, Italy, Spain and the US reached an settlement on Thursday on the transition from nationwide digital companies taxes contested by Washington to a brand new world tax deal, they stated in a joint assertion.
The European international locations agreed to withdraw their nationwide digital companies taxes according to a deal reached amongst practically 140 international locations earlier this month on new guidelines for worldwide company taxation.
As a part of the political compromise reached on Thursday, the US agreed to drop proposed commerce retaliation it had targetted the international locations with on the grounds that their taxes unfairly discriminated towards U.S. corporations.
(Reporting by Leigh Thomas;Enhancing by Elaine Hardcastle)
