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flag G7 agrees to exempt U.S. firms from parts of global tax deal, stabilizing international taxes.

flag The G7 nations have agreed to exempt US companies from parts of a global tax agreement, recognizing existing US tax laws. flag This "side-by-side" system, which eliminates the Section 899 retaliatory tax, aims to stabilize the international tax system and benefits UK businesses by avoiding additional taxes. flag The agreement still needs approval from the OECD.

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