Tim Sarson (KPMG) reports the growing divergence in ideology between two of the world’s most powerful blocs, the US and the EU.
US tax update
Following my February update (Tax Journal 28 February 2025) two further Memorandums (also referred to as Executive Orders) in respect of tax have been issued in the US.
Memorandum on China
On 21 February 2025 President Trump signed a Memorandum entitled America First Investment Policy stating that the US will use all necessary legal instruments to further deter US persons from investing in China’s military-industrial sector. The Memorandum specifically states that the Trump Administration will review whether to suspend or terminate the 1984 US-China income tax treaty however no further details have been provided regarding the timing of such a review.
Memorandum on Digital Services Taxes
Also on 21 February 2025 the White House issued the Defending American Companies...
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Tim Sarson (KPMG) reports the growing divergence in ideology between two of the world’s most powerful blocs, the US and the EU.
US tax update
Following my February update (Tax Journal 28 February 2025) two further Memorandums (also referred to as Executive Orders) in respect of tax have been issued in the US.
Memorandum on China
On 21 February 2025 President Trump signed a Memorandum entitled America First Investment Policy stating that the US will use all necessary legal instruments to further deter US persons from investing in China’s military-industrial sector. The Memorandum specifically states that the Trump Administration will review whether to suspend or terminate the 1984 US-China income tax treaty however no further details have been provided regarding the timing of such a review.
Memorandum on Digital Services Taxes
Also on 21 February 2025 the White House issued the Defending American Companies...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
