All articles tagged with #us tax policy
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.
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.
The article discusses the origins of America's 'revenge tax' on foreigners, starting with a 1934 provision (Section 891) that allowed the US president to double levies on citizens and companies from countries overtaxing Americans, with roots in 1930s tensions with France over tax treaties.