U.S. Has Pulled Out of Global Digital Tax Talks, Lighthizer Says
- Move could mean countries implement levies on tech companies
- OECD had hoped to reach a deal by the end of this year
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Treasury Secretary Steven Mnuchin withdrew the U.S. from international talks over a digital tax deal after failing to reach an agreement with countries looking to place levies on the revenue of American tech companies, U.S. Trade Representative Robert Lighthizer said.
“We were making no headway and the secretary made the decision that rather than have them go off on their own he would just say we’re no longer involved in the negotiations,” Lighthizer said Wednesday during a House Ways and Means Committee hearing.