Finance ministers from five EU countries wrote to Treasury Secretary Steven Mnuchin (and members of the U.S. Congress) expressing their concerns regarding certain aspects of the U.S. tax reform efforts.
The finance ministers from France, Germany, Italy, Spain, and the UK 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 U.S.’s double taxation treaties and may risk having a major distortive impact on international trade. We would therefore like to draw your attention to some features of the proposals being discussed that cause significant concerns from a European perspective.
In particular, the finance ministers expressed concerns about:
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