BAB Statement on Reports of Global Tax Plan to Allow UK to De-Apply Digital Services Tax
9 July 2021
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London/New York – In response to today’s report that G20 finance ministers are preparing to approve a global tax plan that would allow for the UK to de-apply the Digital Services Tax (DST), BAB’s Director for Policy & Trade, Emanuel Adam, said:
“If what the reporting suggests is true, we would very much welcome that. Since the UK first discussed the introduction of a Digital Services Tax, BAB has argued that the issue would be best addressed through a multilateral solution that guarantees a high level of consistency across markets (see BAB’s White Paper here).
It would be timely to have a solution to be found at this time given the threat of U.S. punitive tariffs on UK products, whose introduction is currently paused. As we always said and continue to say, punitive tariffs don’t make good trade policy. Agreements between governments to solve a global issue does.”
About BritishAmerican Business
BritishAmerican Business is the leading transatlantic trade association created as a result of the merger between the British-American Chamber of Commerce in the US and the American Chamber of Commerce in the UK.
We are committed to strengthening the economic corridor between the United States and the United Kingdom by supporting policies and actions that protect and enhance the environment for transatlantic trade and investment on behalf of our members.
We convene and serve a growing network of companies and business leaders through networking opportunities, bespoke programming and marketing platforms.
We actively promote trade and investment and support those who make the transatlantic corridor part of their business growth ambition.
For more information, please visit www.babinc.org