The United States and Turkey have announced an updated agreement on digital services tax, which aims to prevent double taxation and promote fair taxation of digital services. The agreement includes a safe harbor provision for small businesses and a commitment to work towards a multilateral solution. This development is expected to have a significant impact on the digital economy and international tax landscape.
The U.S. Treasury Department today announced that in light of the revised timeline for adoption and signature of the Pillar One multilateral convention (MLC), the United States and Turkey have decided to apply to their November 22, 2021 joint statement regarding their political agreement on transitioning from the existing Turkish digital services tax (DST) to Pillar One—which incorporated by reference the terms under the October 21, 2021 joint statement between the United States and Austria, France, Italy, Spain, and the United Kingdom regarding their political agreement to withdraw all unilateral measures concerning the imposition of DSTs once Pillar One takes effect—the same terms as those under that October 21, 2021 joint statement updated as of February 15, 2024 to extend the agreement from December 23, 2023, until June 30, 2024. Read TaxNewsFlash
As explained in the Treasury release, the updated November 22, 2021 joint statement fully incorporates the provisions of the October 21, 2021 joint statement and the changes to the terms of the October 21, 2021 joint statement under the February 15, 2024 update.
Corem ipsum dolor sit amet, consectetur adipiscing elit. Nunc vulputate libero et velit interdum, ac aliquet odio mattis. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Curabitur tempus urna at turpis condimentum lobortis. Ut commodo efficitur neque. Ut diam quam, semper iaculis condimentum ac, vestibulum eu nisl.Corem ipsum dolor sit amet, consectetur adipiscing elit. Nunc vulputate libero et velit interdum, ac aliquet odio mattis. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Curabitur tempus urna at turpis condimentum lobortis. Ut commodo efficitur neque. Ut diam quam, semper iaculis condimentum ac, vestibulum eu nisl.
Corem ipsum dolor sit amet, consectetur adipiscing elit. Nunc vulputate libero et velit interdum, ac aliquet odio mattis. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Curabitur tempus urna at turpis condimentum lobortis. Ut commodo efficitur neque. Ut diam quam, semper iaculis condimentum ac, vestibulum eu nisl.Corem ipsum dolor sit amet, consectetur adipiscing elit. Nunc vulputate libero et velit interdum, ac aliquet odio mattis. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Curabitur tempus urna at turpis condimentum lobortis. Ut commodo efficitur neque. Ut diam quam, semper iaculis condimentum ac.
Corem ipsum dolor sit amet, consectetur adipiscing elit. Nunc vulputate libero et velit interdum, ac aliquet odio mattis. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Curabitur tempus urna at turpis condimentum lobortis. Ut commodo efficitur neque. Ut diam quam, semper iaculis condimentum ac, vestibulum eu nisl.Corem ipsum dolor sit amet, consectetur adipiscing elit. Nunc vulputate libero et velit interdum, ac aliquet odio mattis. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Curabitur tempus urna at turpis condimentum lobortis. Ut commodo efficitur neque. Ut diam quam, semper iaculis condimentum ac.
