The US administration’s decision to drop the so-called revenge tax is a “welcome development” for UK businesses, a UK tax official said Friday.
The US Treasury’s announcement Thursday “reflects constructive engagement” of the UK and G-7 countries, and the UK will work with other countries on future steps for global minimum tax rules, Michael Hashemi, Pillar Two policy lead at His Majesty’s Revenue and Customs, said at Oxford University’s Centre for Business Taxation summer conference.
The US said its deal with G-7 allies will exclude US companies from some taxes imposed by other countries in exchange for removing the ...
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