Washington, 25 May 2022
The FISC Chair Paul Tang (S&D, NL), who led the delegation, said:
“Top priority on the US tax agenda is the two-pillar agreement of the OECD/G20 Inclusive Framework. There are different views in Congress on the possible implementation of Pillar One. The delegation has made clear that if Pillar One is off the table, digital services taxes are back on the table. Our meetings with big tech companies clearly showed that they dread this scenario”.
“The war in Ukraine has made us more aware that we need to work together to end secrecy, which is abused for tax evasion and money laundering. I am happy that Senators are receptive to our message that we need reciprocity in the exchange of information on tax matters. The OECD should seize the momentum and start reviewing the international standard for the exchange of information with a view to improving cooperation between the US, the EU and our international partners”.
Members of the FISC Subcommittee travelled to Washington D.C. from 23 to 25 May 2022. The delegation met with representatives of Congress from both Republicans and Democrats: Senator Ron Wyden, Chair of the Senate Finance Committee, Rep. Mike Thompson, Senator Rick Scott, Senator Mike Crapo, Senator Sheldon Whitehouse, and Senator Bill Cassidy. The delegation also met with representatives of Amazon, Meta and Google, tax experts, as well as stakeholders from the private sector and civil society. Further meetings will take place with the US Department of Treasury, the World Bank and the International Monetary Fund.
About the subcommittee
The FISC Subcommittee was set up in 2020. It assists the Economic and Monetary Affairs Committee on tax-related matters and particularly the fight against tax fraud, tax evasion and tax avoidance, as well as financial transparency for taxation purposes. It consults experts, exchanges views with ministers and national parliamentarians, organises fact-finding visits and drafts recommendations.