US to Miss Deadline to Avoid Fresh Digital Taxes, Yellen Says

Treasury Secretary Janet Yellen indicated the US will be unable to sign a treaty on global tax rules in time to uphold a deal that prevents other countries from imposing new levies on some of the largest American tech companies.

Earlier this year, the US won an extension of a pledge from other jurisdictions to refrain from new Digital Services Taxes, or DSTs, that hit the revenues of firms like Alphabet Inc.’s Google and Meta Platforms Inc.’s Facebook.

In exchange, President Joe Biden’s administration said it would sign a treaty by the end of 2023 on rules ...