US Has No Timetable for New Plan on Digital Taxes, Treasury Says

The OECD’s global plan for digital taxation is “dead,” and the US is in no hurry to determine what should replace it, a senior Treasury Department official said Friday.

Assistant Treasury Secretary for Tax Policy Kenneth Kies, speaking at the Pacific Rim Tax Conference in San Francisco, also said the recent agreement exempting US companies from key parts of the global minimum tax needs to be cemented in place, “so that there’s never even a thought of reversing what was done.”

He downplayed a planned OECD reassessment of the agreement in 2029 as a “face-saving” move.

The OECD’s digital tax-plan ...