Turkey-USA sign fresh deal on shift to OECD-G20 outline
(MENAFN) On Monday, Nov. 22 America and Turkey declared a shared deal relating to the shift from current Digital Services Tax to a fresh many-sided solution confirmed by the OECD-G20 comprehensive work outline.
The step happens during the historic deal which was agreed upon in October among 137 nations of the OECD-G20 comprehensive work outline, which shows approximately 95 percent of the gross domestic product in the world on a two-pillar collection of adjustments to the global tax outline to be applied in 2023.
The US Treasury Department reported in an announcement, “These reforms will provide for a tax framework that is fairer, more stable, and better equipped to meet the needs of a 21st century global economy.”
It further said, “This compromise represents a pragmatic solution that helps ensure that countries can focus their collective efforts on the successful implementation of the OECD/G20 Inclusive Framework’s historic agreement on a new multilateral tax regime and allows for the termination of trade measures adopted in response to the Turkish Digital Services Tax.”
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.