Discover how the US and India are reshaping global tax policies with their groundbreaking digital tax extension agreement! Uncover the reasons behind this pivotal decision and how it could affect tech giants and everyday consumers alike. Dive into the details of the negotiations and learn why this move is causing waves in financial markets worldwide.
The United States and India have extended a standstill agreement on US retaliation for India's digital services tax until Sunday, aligning it with a rapidly approaching deadline for a global agreement to reallocate taxing rights on the world's largest and most profitable corporations, the US Treasury said on Friday.
In a brief release, the Treasury stated that a November 2021 political compromise that expired on March 31 would be prolonged until the end of the month, while negotiations on the "Pillar 1" tax accord continue.
The Pillar 1 agreement is in danger of failing since the United States, India, and China have failed to...
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