Europe’s plan to tax large digital companies hit resistance at a meeting of the bloc’s finance ministers as delegates tussled between a French-backed push for a quick regional agreement and calls for a global solution.
U.S. companies that make billions of dollars from patents and other intellectual property held offshore would be eligible for a special 12.5 percent tax rate on those earnings under the Senate tax plan.
Multinational companies including Apple Inc., Pfizer Inc. and Ford Motor Co. would face a new tax on payments they make to offshore affiliates under the House Republicans’ tax bill—a surprise provision that has stunned tax experts.
Like what you see? Make sure you're getting it all
Tax Pro Today is the leading information resource for tax preparers and tax professionals – serving the community of practitioners who provide tax preparation, planning and consulting services to individuals and small businesses.