House Republicans are urging Treasury Secretary Janet Yellen to “protect US taxpayers” against Germany’s century-old tax on intellectual property income that’s been a headache for companies.
Germany said in 2020 it would start applying a 1925 law that levies a withholding tax on nonresident companies on income from German-registered IP. Ways and Means member Randy Feenstra (R-Iowa) is leading the letter, which is dated Thursday and raises concerns that the “unilateral” tax affects US companies.
“This approach effectively continues to subject U.S. multinationals to the withholding tax while excluding German multinationals, raising concerns about the disparate tax ...
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