The United States and the Group of Seven nations have reached an agreement to back a proposal that would exempt U.S. companies from certain elements of an existing global tax framework, according to a statement released by the G7 on Saturday.
Lloyd’s has issued a statement commending the decision to remove Section 899 from the Republican reconciliation bill—a provision that, if enacted, could have imposed significant additional taxes on the U.S. income of businesses domiciled outside the country.
The United States and the Group of Seven nations have reached an agreement to back a proposal that would exempt U.S. companies from certain elements of an existing global tax framework, according to a statement released by the G7 on Saturday.
