The Resource EU struggles to reply to the U.S. weaponizing tax

EU struggles to reply to the U.S. weaponizing tax

Label
EU struggles to reply to the U.S. weaponizing tax
Title
EU struggles to reply to the U.S. weaponizing tax
Creator
Subject
Language
  • eng
  • eng
Summary
We are going to war - global tax war sparked by the recent U.S. Federal Tax reforms - and Europe is struggling. In March 2018, the European Union (EU) is expected to publish details of its proposed 5 percent gross revenues tax on U.S. digital multinationals such as Google, Facebook, Amazon and Apple. Apple immediately seized on the reforms to shift to the U.S. over $200 billion in foreign earning previously held offshore. This has been partially spurred by President Trump's slashing of corporate taxes on U.S. multinationals' foreign earnings to encourage a massive repatriation of $3 trillion in U.S. foreign profits currently sheltered from U.S. tax offshore. But the EU's proposals, launched by France and Germany, are already facing internal opposition from member states, and may also flout bilateral agreements against double taxation with the rest of the world. Globally, countries such as China, Israel, and Australia have also launched plans to reduce their tax burdens to remain competitive with the new U.S. regime. A number of countries have also threatened to make a referral to the World Trade Organization (WTO) court, presaging a U.S. retreat on international trade cooperation and an attack on the global tax consensus and the balance of global investment
Citation source
  • In: Tax management transfer pricing report. - Arlington. - Vol. 27 (2018), no. 6 ; 3 p
  • In: Tax planning international review. - London. - Vol. 45 (2018), no. 3 ; 3 p
http://library.link/vocab/creatorName
Asquith, R
Geographic coverage
  • European Union
  • Europe
  • North America
  • International
Language note
English
http://library.link/vocab/subjectName
  • tax reform
  • corporate income tax
  • tax rate
  • investment
Label
EU struggles to reply to the U.S. weaponizing tax
Link
https://library.ibfd.org/custom/web/SD_PDF/scans/2018/T/TAXMATRP/vol.27/6_EU.pdf
Publication
Note
20180404

Library Locations

    • IBFD Library AmsterdamBorrow it
      Rietlandpark 301, Amsterdam, 1019 DW, NL
      52.3736660 4.9336932
Processing Feedback ...