President Trump considers doubling taxes on foreign entities using a rarely invoked 90-year-old law.

US President Donald Trump may use a 90-year-old tax rule to double US taxes on foreign companies and individuals if he finds they impose discriminatory taxes on US citizens. This provision, part of the "America First Trade Policy," has never been used before and could affect the OECD's global tax deal aiming for a 15% minimum tax rate. The rule could double the US tax rate for these entities to 42%, but its application standards are unclear.

2 months ago
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