John Vella, associate professor of Taxation in the Faculty of Law at Oxford University, told Xinhua that unilateral measures like DSTs raise a number of concerns.

"It's hard to predict their impact on the international scene. DSTs, or the threat of further DSTs, may put pressure on countries to reach a coordinated way forward but they may also sour relations between countries even further, potentially leading to trade wars," he said.

In Vella's eyes, there is need for fundamental reform of the international corporate tax system. Measures such as DSTs are not a long-term solution.

Although some countries claim that it's a temporary measure, there's no sunset clause in their DST laws. Fullelove pointed out that the DST should not be viewed as a long term solution but a temporary fix, and it should be repealed once a satisfactory agreement is reached internationally through the OECD.

One of the biggest challenges for the agreement lies in the United States, which has been at odds with countries that plan to impose the DST, arguing it unfairly target American tech companies such as Facebook and Google.

The good news is, according to the OECD, despite some previous media reports, the United States has not pulled out of the negotiations, signaling its ongoing engagement in the multilateral cooperation work.

Angel Gurria, secretary-general of the OECD, called for all participants to remain engaged, work together in a spirit of compromise and advance towards a solution on Pillar One, which aims to require businesses to pay more taxes where their consumers, and thus sales, are located.

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