Home > General > Obama takes on corporate tax after Apple's Irish/EU dispute
Written by Sim Pinder, on 16th Sep 2016. Posted in General
The Obama administration on Thursday took aim at the use of foreign tax credits by American multinational companies to reduce their U.S. tax bills, in an action that closely followed a European Union order that Apple Inc pay back taxes to Ireland.
The U.S. Treasury issued legal guidance aimed at reducing the scope companies have to credit foreign taxes against what they owe to the U.S. government. (Reuters)
Source: www.businessworld.ie
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