The UK is engaging with the US over a Republican tax bill that seeks to impose a so-called revenge tax on foreign investors, the UK tax authority said Tuesday, calling the measure “regrettable.”
His Majesty’s Revenue and Customs doesn’t believe that any UK taxes are unfair or discriminatory, an official said during an online consultation session, responding to a question about implications of the US proposal.
The measure—introduced as Section 899 of legislation that passed the House May 22—would raise tax rates on individuals and companies from countries whose tax policies the US deems discriminatory. The bill, which is now ...
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.