Reported about 1 year ago
The United States and India have extended their standstill agreement on U.S. retaliation over India's digital-services tax until Sunday, aligning with a deadline for a global deal on redistributing taxing rights for major companies. The extension aims to prevent reinstitution of taxes on U.S. tech giants and maintain the Pillar 1 tax agreement, but negotiations face challenges as key elements remain unresolved. The deal's collapse could lead to punitive duties on exports and reinstatement of digital taxes by various countries that had suspended them after a two-pillar tax deal was reached in 2021.
Source: YAHOO