In CNBC Op-Ed, Clete Willems Calls for End to “Discriminatory” Digital Taxes
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CNBC.com has published the op-ed “Digital taxes are an even bigger threat to the US economy during the pandemic,” written by Akin Gump public law and policy partner Clete Willems.
Willems writes that, while recent trade discussion have focused “on how the coronavirus has increased tension between the United States and China,” it has also fueled momentum for digital service taxes in countries around the world. France, in particular, Willems says, has been working on such policies for years.
The column goes on to say that higher taxes on companies “will make our own economic recovery more difficult, and looting our tax base will make an already troubling fiscal situation worse.” Multilateral negotiations are currently underway to address the issue, Willems says, but he advises the Trump administration to condition the outcomes “on commitments to pursue sensible digital tax policies.” The United States, he adds, “must use its considerable trade negotiating leverage to stop discriminatory digital taxes from becoming a global norm.”
Click here to read the full op-ed.