ITI Responds to OECD/G20 Inclusive Framework’s Pillar One Multilateral Convention, Urges Withdrawal of Unilateral Taxes
WASHINGTON — Today, global tech trade association ITI issued the following statement from its President and CEO Jason Oxman on the OECD/G20 Inclusive Framework’s release of a Multilateral Convention to Implement Amount A of Pillar One:
“The multilateral convention and accompanying documents released today represent another step in the years-long effort to address the tax challenges arising from the digitalization of the global economy. As we review the details and assess its implications, we reiterate the need for a consensus-based solution that brings about the immediate withdrawal of all unilateral tax measures that attempt to ring-fence the digital economy and destabilize the international tax framework. It is critical that countries respect the Inclusive Framework’s standstill on newly imposed unilateral tax measures to avoid undermining the ongoing negotiation process. ITI will continue to engage with participating jurisdictions to ensure a functioning and dependable global tax system that promotes investment and innovation and provides certainty and predictability for all businesses.”