Categories: U.S. Treasury

Joint Statement from the United States and Turkey Regarding a Compromise on a Transitional Approach to Existing Unilateral Measures During the Interim Period Before Pillar 1 Is in Effect

Joint Statement from the United States and Turkey Regarding a Compromise on a Transitional Approach to Existing Unilateral Measures During the Interim Period Before Pillar 1 Is in Effect

  1. On October 8, 2021, the United States and Turkey joined 134 other members of the OECD/G20 Inclusive Framework (including Austria, France, Italy, Spain, and the United Kingdom) in reaching political agreement on the Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalization of the Economy.
  2. On October 21, 2021, the United States, Austria, France, Italy, Spain, and the United Kingdom reached a political compromise on a transitional approach to existing Unilateral Measures while implementing Pillar 1 (“Unilateral Measures Compromise”).  The Unilateral Measures Compromise is reflected in the joint statement that was issued by those six countries on that date (“October 21 Joint Statement”).
  3. The United States and Turkey have agreed that the same terms that apply under the Unilateral Measures Compromise shall apply as between the United States and Turkey with respect to Turkey’s Digital Service Tax and the United States’ trade actions regarding the Digital Service Tax.  Accordingly, the Unilateral Measures Compromise described in the October 21 Joint Statement is incorporated by reference into this joint statement between the United States and Turkey.
  4. The United States and Turkey will remain in close contact to ensure that there is a common understanding of the respective commitments under this agreement and endeavor to resolve any further differences of views on this matter through constructive dialogue.
IR Press

Share
Published by
IR Press

Recent Posts

Acting Comptroller Testifies on State of the Federal Banking System

WASHINGTON—Acting Comptroller Michael J. Hsu today testified on the state of the federal banking system…

15 hours ago

Remarks by Assistant Secretary for International Finance Brent Neiman on the U.S. Cross-Border Payments Agenda

As Prepared for Delivery Thank you very much for the opportunity to be here today, and…

2 days ago

Remarks by Assistant Secretary for Investment Security Paul Rosen at the Third Annual CFIUS Conference

As Prepared for Delivery Good afternoon.  I’d like to start by thanking our panelists today for…

2 days ago

U.S. Department of the Treasury Releases Final Rules to Expand Access to Clean Energy Tax Credits

Final rules will improve access to direct pay for co-owned clean energy projects, helping to…

2 days ago

Treasury Targets Key Hamas Leaders and Financiers

WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC)…

2 days ago

Treasury Targets Fentanyl Traffickers and Other Key Contributors to U.S. Opioid Crisis

WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned…

2 days ago