Washington, D.C. - Today, House Ways and Means Committee Chairman Kevin Brady (R-TX) released the following statement after the United Kingdom announced plans to introduce a new tax on digital services:
“The United Kingdom’s introduction of a new tax targeting cross-border digital services - which mirrors a similar proposal under consideration in the European Union - is troubling. Singling out a key global industry dominated by American companies for taxation that is inconsistent with international norms is a blatant revenue grab.
“The ongoing global dialogue on the digital economy through the OECD framework should not be pre-empted by unilateral actions that will result in double taxation. If the United Kingdom or other countries proceed, that will prompt a review of our U.S. tax and regulatory approach to determine what actions are appropriate to ensure a level playing field in global markets."
