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G7 Supports 'Side-by-Side' Tax System Amid U.S. Tax Dispute

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Source: The New York Times
G7 Supports 'Side-by-Side' Tax System Amid U.S. Tax Dispute
Photo: The New York Times
TL;DR

The G7 nations have agreed to exclude American companies from penalties related to a 2021 global minimum tax and will implement a 'side-by-side' tax system, easing international tax tensions and avoiding a potential tax war, with the US dropping its opposition to certain tax measures.

Topics:nationworld#g7#global-minimum-tax#international-tax#tax-system#us#world
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  1. G7 Backs Plan for ‘Side-by-Side’ Tax System to Avoid U.S. Fight  The New York Times
  2. Lawmakers remove ‘revenge’ tax provision from Trump's big bill after Treasury Department request  AP News
  3. US Treasury asks Congress to scrap foreign revenge tax in Trump bill  Financial Times
  4. GOP agrees to drop 'revenge tax' from megabill after Bessent cites progress in global talks  Politico
  5. Bessent asks Congress to drop 'retaliatory' tax as Republicans struggle to rewrite bill  Reuters

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