The U.S. Department of the Treasury has announced the extension of the compromise agreement with Austria, France, Italy, Spain, and the UK on a transition from existing Digital Services Taxes (DSTs) in these countries to the new multilateral solution agreed to under Pillar 1 of the OECD's two-pillar solution for reforms to the international tax framework. First agreed to in October 2021, the agreement essentially provides that any DST liability that U.S. companies accrue during an "interim period" will be creditable against future income taxes accrued under Pillar 1, to the extent the DST liability exceeds the amount that would...