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It certainly makes it harder for US citizens to do business overseas. Puts them at a competitive disadvantage vs the citizens of pretty much any other country.
by klipt 4y ago
It certainly makes it harder for US citizens to do business overseas. Puts them at a competitive disadvantage vs the citizens of pretty much any other country.
- spywaregorilla 4y agoA business created by a US citizen does not need to pay US taxes. If by doing business you mean just having a job... sure I guess. If the taxes are significantly lower there?
- Question50 4y agoIncorrect, as until the business reaches a certain size it is considered a Controlled Foreign Corporation [1]. In addition, it is subject to GILTI[2] (pronounced "guilty"). [1] https://www.investopedia.com/terms/c/cfc.asp https://www.investopedia.com/terms/c/cfc.asp [2] https://www.investopedia.com/global-intangible-low-taxed-income-gilti-definition-5097113 https://www.investopedia.com/global-intangible-low-taxed-inc...
- spywaregorilla 4y agoshrug. find a business partner.