Trump declares U.S. exempt from previously agreed global corporate tax pact
- U.S. President Donald Trump declared that a global corporate minimum tax deal "has no force or effect" in the U.S., effectively pulling America out of the arrangement negotiated by the Biden administration with nearly 140 countries.
- Trump's memo referred to such actions as "retaliatory" and stated that American companies may face retaliatory international tax regimes if the U.S. does not comply with foreign tax policy objectives.
- The memorandum clarifies that the global tax deal has no force or effect in the United States, aiming to recapture the nation's sovereignty and economic competitiveness.
- Trump's Treasury nominee Scott Bessent stated that following through with the global minimum tax deal would be a "grave mistake.
64 Articles
64 Articles
Trump has announced the withdrawal of the global minimum tax for large corporations. This probably does not bode well for Germany and international tax justice.
Does US exit spell the end for global tax reform deal? – INTELLI.NEWS
Claiming unfair treatment for American companies Donald Trump has left the OECD’s global tax deal negotiations by executive order. Without the deal, countries could opt for “digital service taxes” of their own. Source
The minimum taxation of multinationals came to a halt after the announcement of the withdrawal of the United States. Donald Trump is now adding the risk of a fiscal war to the trade war. Switzerland, which has implemented the agreement, is in expectationAmong the dozens of decisions taken on the first day of his mandate, Donald Trump on Monday denounced the tax agreement signed under the aegis of the Organization for Economic Cooperation and Dev…
President Trump threatens to double tax rates for foreign firms
Donald Trump has threatened to double tax rates for foreign nationals and companies in the US in what he said was a bid to hit back at “discriminatory” duties on American firms. The President set out a memo on his ‘America first’ trade policy on Monday which referred to an almost 100-year old element of the US tax code – Section 891 – which allows him to impose higher taxes on foreign citizens and businesses within America. His order asks the Tr…
The risk is to witness a new transfer of savings from Europe to America, attracted by low-taxed companies and alternative and poorly regulated financial instruments. With negative repercussions on the euro
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