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Revenge Tax Removed from U.S. Bill Following G7 and Global Tax Talks

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Source: CNN
Revenge Tax Removed from U.S. Bill Following G7 and Global Tax Talks
Photo: CNN
TL;DR

The US Treasury and Congress have agreed to remove Section 899, a controversial 'revenge tax' aimed at retaliating against global tax frameworks and digital services taxes, effectively killing the measure before it takes effect, in exchange for excluding US companies from some global taxes.

Topics:nationbusiness#business#global-investment#oecd#revenge-tax#section-899#us-tax-policy
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  1. The ‘revenge tax’ is dead before it even started  CNN
  2. Lawmakers remove ‘revenge’ tax provision from Trump's big bill after Treasury Department request  AP News
  3. G7 Backs Plan for ‘Side-by-Side’ Tax System to Avoid U.S. Fight  The New York Times
  4. Bessent asks lawmakers to rid US budget bill of Trump's retaliatory tax plan after G7 deal  Reuters
  5. GOP agrees to drop 'revenge tax' from megabill after Bessent cites progress in global talks  Politico

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