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Turkey Reaches Deal With U.S. Over Ending Its Digital Tax (1)

Nov. 22, 2021, 5:32 PMUpdated: Nov. 22, 2021, 5:51 PM

The U.S. reached a deal with Turkey on the transition from a digital services tax to a new global agreement, the Treasury Department announced Monday.

The deal mirrors one already struck with Austria, France, Italy, Spain, and the U.K., the statement said. That leaves India as the sole country with a digital tax targeted by a potential U.S. trade retaliation that hasn’t yet signed an accord with the U.S.

Under the deal, affected companies will receive future credits for the amount of Turkish tax they pay under a national digital tax that exceeds what they would pay if the global ...

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