Republican Ways and Means Members Concerned OECD Negotiations May Harm US Firms
Seventeen Republican members of the House Ways and Means Committee, led by ranking member Rep. Kevin Brady of Texas, told Treasury Secretary Janet Yellen that they are still “deeply concerned” with various components of the Organization for Economic Cooperation and…
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Development's approach to taxing digital firms' overseas activities. In the April 8 letter, they asked Yellen for a briefing on the administration's goals. Without a clearer principle on how to allocate profits to countries where businesses provide services, they said, “other countries will continue to extract as much revenue as possible from the United States through digital services taxes or otherwise.” They also said they support the steps the Office of the U.S. Trade Representative has taken to pressure countries to repeal their digital services taxes.