All articles tagged with #section 899
Originally Published 6 months ago — by CNN
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.
Originally Published 6 months ago — by Axios
Treasury Secretary Scott Bessent has requested the removal of the controversial 'revenge tax' provision, known as Section 899, from the 'big, beautiful bill' after reaching a deal with G7 countries on global corporate taxes, aiming to prevent it from hindering foreign investment in the U.S.
Originally Published 7 months ago — by The Guardian
U.S. President's proposed 'revenge' taxes under the One Big Beautiful Bill Act could deter foreign investment by imposing higher taxes on foreign entities connected to jurisdictions with 'unfair' foreign taxes, potentially leading to retaliatory measures and affecting global investor sentiment, especially among UK and European companies with US exposure.
Originally Published 7 months ago — by Bloomberg
Senator Thom Tillis expects a delay in implementing the 'revenge tax' (Section 899) in Trump's tax bill due to pushback from Wall Street and businesses, with concerns that it could reduce foreign investment in the US. The provision, aimed at foreign countries deemed discriminatory, may be postponed as lawmakers seek to clarify exemptions and ensure it is pro-growth.
Originally Published 7 months ago — by CNBC
The U.S. tax bill's Section 899 may incentivize European companies to list their shares in the U.S. to optimize tax benefits, potentially altering international listing strategies.
Originally Published 7 months ago — by Financial Times
Executives from major companies are lobbying in Washington to oppose a provision in Trump's budget bill (Section 899) that would impose higher taxes on foreign investments in the US, warning it could harm American jobs and reduce foreign investment. The measure targets countries with 'unfair foreign taxes' and could significantly impact international firms and foreign banks operating in the US, potentially leading to economic and market disruptions. Despite its aim to raise revenue, critics argue it could have negative consequences for US economic growth and international relations.
Originally Published 7 months ago — by Axios
Top Treasury officials are defending Section 899 of the House-passed budget bill, which aims to pressure foreign countries on tax policies affecting U.S. companies, as a tool for negotiations and economic strategy, despite criticism and reservations from some GOP senators and trade groups.
Originally Published 7 months ago — by Bloomberg.com
The proposed Section 899 in Trump's tax bill aims to penalize foreign countries with digital taxes, but it could also increase interest costs for US borrowers by requiring them to gross up payments to cover higher withholding taxes, potentially affecting syndicated loans and foreign lending to US companies. The measure faces political hurdles and has raised concerns among Wall Street analysts about its impact on foreign investment and borrowing costs.
Originally Published 7 months ago — by Financial Times
A little-publicized provision in Trump's budget bill, Section 899, could increase taxes on foreign investments in the US, potentially deterring foreign investors, impacting US markets, and affecting international companies and sovereign wealth funds, raising concerns among Wall Street and global financial leaders.
Originally Published 7 months ago — by Bloomberg
A hidden provision in a US tax bill, Section 899, proposes increasing taxes on foreign investors in US assets, sparking concerns on Wall Street about reduced foreign investment, potential impacts on the dollar, and US financial markets, amid broader trade and fiscal uncertainties.