The U.S. Department of the Treasury has announced that a compromise agreement has been reached 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. The agreement, which is included in a joint statement by the countries concerned, 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...