Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

U.S. trade chief Tai tells Turkey countries must remove digital services taxes

EconomyAug 27, 2021 07:11AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: U.S. Trade Representative Katherine Tai testifies before the Senate Finance Committee on Capitol Hill in Washington, U.S., May 12, 2021. Susan Walsh/Pool via REUTERS/File Photo

WASHINGTON/ANKARA (Reuters) -U.S. Trade Representative Katherine Tai told Turkey's trade minister it was critical that countries remove individual digital services taxes in connection with a broader multilateral agreement reached in talks led by the OECD, her office said.

Tai discussed digital services taxes, improving access for U.S. companies in Turkey and other issues with her Turkish counterpart, Mehmet Mus, during a virtual meeting on Wednesday, her office said in a statement released on Thursday.

"Ambassador Tai stated that the United States views as critical the removal of individual DSTs in connection with the Organization for Economic Co-operation and Development (OECD) and G20 processes" it said.

She expressed her view that negotiations in multilateral forums represent the best opportunity to resolve issues around digital services taxes.

In a statement on Friday, the Turkish trade ministry said that Mus had repeated Ankara's demand "for the elimination of the additional taxes applied in the steel industry by the U.S."

It said Turkey had asked the United States not to impose additional tariffs, by pointing out the consultation processes carried out within the OECD in the steel industry.

More than 130 OECD members agreed this summer to work out new rules on where companies are taxed, to adopt a tax rate of at least 15%, and to drop national digital services taxes in favor of the new taxing rights.

G20 leaders are trying to finalize the deal by an Oct. 28-29 summit in Rome.

The U.S. Trade Representative's office in June announced 25% tariffs on over $2 billion worth of imports from six countries over their digital services taxes - including Turkey - but immediately suspended the duties to allow time for international tax negotiations to continue.

The U.S. government has concluded that such individual taxes would discriminate against U.S. companies.

During their meeting, Tai and Mus also discussed tackling challenges posed by non-market economies, with a particular focus on excess capacity, and efforts to reform the World Trade Organization, USTR said.

U.S. trade chief Tai tells Turkey countries must remove digital services taxes
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email