News & Media 2nd Jul 2024
The Multilateral Convention (MLC) for Pillar 1 of the landmark global tax deal has not been signed by the last date of June 30 and could lead to the digital services taxes making a comeback and some tensions within the big tech players.
After the two-pillar agreement was introduced in October 2021, a political deal was reached between the USA and several European countries including Austria, France, Italy, Spain, and the UK, to suspend unilateral digital services taxes (DSTs) on US tech giants such as Apple, Alphabet’s Google, and Amazon.com until the implementation of the first pillar.
To encapsulate on this, Business Standard’s Raghav Aggarwal writes on “Global tax deal: With MLC deadline gone, DSTs may be reinstated on tech cos” with insights from our Partner Mitesh Jain.