DSTs in Europe to Lift in Late 2023 or 2024, Italy's Trade Minister Says
Although France and the U.S. have said they have agreed on how to remove digital services taxes, it is not clear whether that agreement means the retaliatory tariffs promised over the taxes will remain on hold. Taxes on British, Turkish,…
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Indian, French, Spanish and Austrian goods were put on hold for 180 days in June (see 2106020047), to give breathing room for the negotiations that French Finance Minister Bruno Le Maire said have now been concluded. The Wall Street Journal reported his Oct. 14 remarks, and also comments from Italian Finance Minister Daniele Franco, who was speaking after trade ministers from the G-20 met in Italy. Franco said the DSTs won't be removed for at least two more years. “By the end of 2023 or the beginning of 2024 the [rules] will be operational, and the agreement is that, at that point, the national taxes will be removed,” he said. “Since the beginning, it has been established that the taxes would be removed when a world-wide solution would be implemented." The Office of the U.S. Trade Representative didn't respond to questions by press time.