G7 agrees to exempt U.S. companies from elements of global tax pact
發佈日期: 2025-06-29 22:43
TVB News
The United States and the Group of Seven nations have agreed to support a proposal that would exempt U.S. companies from some components of an existing global agreement.
The group has created a "side-by-side" system. This is in response to the U.S. agreeing to scrap the Section 899 retaliatory tax proposal from President Donald Trump's tax and spending bill.
The G7 said the plan recognises existing U.S. minimum tax laws and aims to bring more stability to the international tax system.
In January, through an executive order, Trump declared that the global corporate minimum tax deal wasn't applicable in the U.S., pulling out of the Biden administration's 2021 agreement.
Trump also vowed to impose a retaliatory tax against countries that impose taxes on U.S. firms under the 2021 deal.
This tax was considered detrimental to many foreign companies operating in the U.S.
