21 Jan 2025

DJT Withdraws USA from Global Corporate Tax Agreement

by Bonnie | | 0

Donald Trump signed an executive order withdrawing the USA from a 2021 global deal setting minimum corporation tax.

Since the deal was established, the European Union set a minimum corporation income tax rate of 15%. The USA’s Congress has not aligned, leaving its minimum corporation tax rate at 10%. Failure to align and withdrawing from the agreement may lead to other countries reinstating digital taxes on American technology companies and could ignite a series of tariffs and counter-tariffs.

Click here for more details.

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