ITI Responds to G20 Finance Ministers’ Tax Statement, Continues to Urge Withdrawal of Unilateral Taxes
WASHINGTON — Today, global tech trade association ITI issued the following statement from its President and CEO, Jason Oxman, on the G20 Finance Ministers’ update regarding negotiations to address the tax challenges arising from the digitalization of the economy. The communiqué endorses the OECD/G20 Inclusive Framework’s Two-Pillar Solution announced on July 1:
“We appreciate the ongoing efforts to reach a multilateral solution to address the digitalization of the global economy. As participating governments continue to work on this proposal, we urge them to ensure the immediate withdrawal of all unilateral tax measures. The proliferation of such measures continues to put pressure on the international tax system and has negative ramifications for all industries that do business across borders. We look forward to engaging with participating governments ahead of the October meetings to address the outstanding decisions from this proposed framework and to advance a global tax system that promotes investment and innovation and provides certainty and predictability for businesses.”