The Biden administration has asked other nations to maintain a moratorium on country-specific levies beyond the end of the year, a source told Bloomberg. Governments participating in the OECD-led international agreement had committed in October 2021 to not enact DSTs until the end of this year. (Bloomberg, The Logic)

Talking point: The 139-jurisdiction negotiations are meant to produce a global minimum corporate rate and change the way multinationals are taxed around the world. Border-spanning tech platforms are an implicit target; DSTs explicitly target them. With so many headquartered in Silicon Valley, industry associations and Washington have pushed back against such measures on the basis that they discriminate against U.S. firms. Ottawa has been making legislative moves to implement a DST next year if the global deal isn’t in place. That’s looking increasingly likely, with the OECD last year signalling that it had fallen behind schedule. Finance Minister Chrystia Freeland’s office has repeatedly insisted that Ottawa will move forward with its DST plans if the global deal misses the original deadline.