Europe and the UK can use existing digital services taxes to put pressure on the US to enact Pillar One of the global tax deal, Paul Tang, chair of the European Parliament Subcommittee on Tax Matters, said Tuesday.
Pillar One of the Organization for Economic Cooperation and Development’s tax agreement would reallocate a portion of corporate taxes to countries where they do business, but don’t have a major physical presence.
“Technical agreement on Pillar One is close, but will the US Congress sign is a big question,” said Tang, who was speaking at a press conference after subcommittee members met …
