Washington is pushing for the rules to be tightened which currently allow foreign companies to reduce their US tax payments by billions of dollars a year, according to reports in the press.
‘This will be viewed as a major disincentive to foreign investment in the US,’ claimed Todd Malan of the Organisation for International Investment, a Washington lobbying group for foreign owned companies.
The move will raise fears in Europe that the US is responding to the European Union’s victory in the World Trade Organisation against a $4bn (£2.7bn) US tax break for exporters known as the Foreign Sales Corporation scheme.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states