US tax reform breaks global rules, EU says

[truth_seeker]

US tax reform breaks global rules, EU says

Dec. 19, 2017

Last week, the finance ministers of Europe's five biggest economies — Germany, France, the UK, Spain and Italy — wrote an anxious letter to their American colleague, US Treasury Secretary Stephen Mnuchin, and copied it to all senior Republican politicians in the Congress and Senate.

The letter's thrust: The draft US tax bill, if passed as written a week ago, would represent a break with global fair-taxation rules as applied to corporations, and represent a thinly disguised form of trade war.

"The United States is Europe's single most important trade and investment partner," the finance ministers wrote. "It is important that the U.S. government's rights over domestic tax policy be exercised in a way that adheres with international obligations to which it has signed-up. The inclusion of certain less conventional international tax provisions could contravene the US's double taxation treaties and may risk having a major distortive impact on international trade."

A day later, a similar letter was sent to Mnuchin by the European Commission's four most senior economic officials and made many of the same points.

snip

http://www.dw.com/en/us-tax-reform-breaks-global-rules-eu-says/a-41862318

[truth_seeker]

Absent a better explanation, I'll assume they are worried that a competitive US tax rate, endangers their competitive advantage.

There is plenty of substance at the link. If there is any hunger for facts, substance.

[DB]

The EU can go pound sand.

[Applewood]

The EU can go pound sand.

I agree.  Time for the US to stop letting other countries dictate to it. 

[driftdiver]

So we have to have the highest corp taxes?

[truth_seeker]

The EU can go pound sand.

As previously mentioned, the details can be found at the linked article.

[Fishrrman]

Take those "global rules" and stuff 'em where the sun don't shine!

[Bigun]

Take those "global rules" and stuff 'em where the sun don't shine!

If you think they are mad now, put me in charge of our tax system for a day or two.

[To-Whose-Benefit?]

If you think they are mad now, put me in charge of our tax system for a day or two.

Only if you let me operate one of the jackhammers!

 

[berdie]

Only if you let me operate one of the jackhammers!

 

Or the chipper/shredders.

[Oceander]

It arguably violates US obligations under double tax treaties that the US voluntarily negotiated.  That has nothing to do with hissy fits over lower rates.

[To-Whose-Benefit?]

It arguably violates US obligations under double tax treaties that the US voluntarily negotiated.  That has nothing to do with hissy fits over lower rates.

WHO negotiated those treaties?

Sounds like a criminal conspiracy to me.

Ought to be prosecutable in some idiot World Court.

[Cyber Liberty]

It arguably violates US obligations under double tax treaties that the US voluntarily negotiated.  That has nothing to do with hissy fits over lower rates.

Were those issues addressed?  This story is already a bit dated.  If something is violated, where would such a complaint be heard?

[Free Vulcan]

If you think they are mad now, put me in charge of our tax system for a day or two.

I'll volunteer to be your Ordinance Advisor.

[GtHawk]

Were those issues addressed?  This story is already a bit dated.  If something is violated, where would such a complaint be heard?

Probably be heard by belgian chocolates in brussel sprouts.

[Cyber Liberty]

Probably be heard by belgian chocolates in brussel sprouts.

I was just looking at your Avatar (Thank God for tineye.com!).  Now there's the "legal controlling authority."