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Netflix, Spotify Signal Agreement With U.S. Digital Tax Pitch

By Isabel Gottlieb

Netflix Inc., Spotify Technology SA, and Snap Inc. endorsed a recent U.S. proposal to refocus a plan to rewrite global tax rules on the 100 largest, highly profitable companies. The U.S. pitch could bring much-needed simplifications to an OECD-led plan, the companies said in a letter to Treasury released Tuesday under the Freedom of Information Act. The OECD is trying to get nearly 140 countries to agree to overhaul decades of tax rules and agreements to better tax the digital economy.

Axing Levies on Tech Giants Central to U.S. Global Tax Pitch

By Isabel Gottlieb and Hamza Ali

The Biden administration wants countries working on an OECD-led effort to overhaul global tax rules to agree to shut down digital levies aimed at U.S. tech giants. The U.S.'s plan last week sparked new optimism for nearly 140 counties to reach agreement on a plan this summer. But the administration’s call to end unilateral measures in countries like France, the U.K., Italy, and India could meet resistance as negotiators try to define the types of taxes to roll back, observers say. 

Senator Tells Biden GOP Won’t Back Tax Hike: Stimulus Update

By Christopher Anstey, Josh Wingrove, Laura Litvan, and Erik Wasson 

President Joe Biden was told by a Republican senator at a White House meeting that the tax hike he’s proposed wouldn’t be approved by the GOP. Biden suggested some flexibility toward a smaller package than his $2.25 trillion infrastructure-focused economic plan, another meeting participant said.