WASHINGTON – Today, global tech trade association ITI issued the following reaction to the G7 Finance Ministers’ statement regarding the tax challenges arising from the digitalization of the global economy:
“The G7 Finance Ministers’ statement is a notable contribution to the OECD/G20 Inclusive Framework’s efforts to reach political agreement on a multilateral solution to the tax challenges arising from the digitalization of the global economy,” said Jason Oxman, ITI President and CEO. “As the 139 participating governments consider this statement and continue their work towards a final agreement, ITI urges them to promote an approach that embodies sound tax policy objectives, provides for predictable and timely dispute prevention and resolution, and brings much-needed certainty. Further, we recognize the G7 Ministers’ commitment to remove all digital services taxes, which should happen at the time of political agreement to avoid further fragmentation of the international tax system and adverse implications for all industries that do business across borders.”
Last year, ITI published Principles for OECD Efforts to Address Tax and the Digitalization of the Economy, which center on the need for any OECD/G20 Inclusive Framework outcome to be a stable, coherent, consensus-based solution to our international tax challenges.