3 ms·
I’m neither a lawyer nor an accountant but I’d expect it to run counter to all existing double taxation agreements. All those agreement would have to be cancell
by realityking 5y ago
I’m neither a lawyer nor an accountant but I’d expect it to run counter to all existing double taxation agreements. All those agreement would have to be cancelled or renegotiated - that’s a lot of work.
- eecc 5y agoWhy? The parent suggested to discount the tax paid abroad from the taxes to be paid in the US. It is the double-taxation prevention agreement. Me being a cynical bastard will expect countries rallying to offer themselves to the US and reduce their cut to buy political favor.
- realityking 5y agoDouble taxation agreements describe rules to assign the taxation of an activity to a jurisdiction. The other jurisdiction can then no longer tax that activity. With your proposal you do end up taxing it twice, just at a reduced rate. As I understand it, that would require changes to double taxation agreements.