USA: State Aid? We Beg to Differ!
“US blasts EU over ‘bias’ in tax probe of American firms
The United States has denounced European Commission for its ‘unfair’ probe of American companies in EU’s tax investigations.
Robert Stack, the US Treasury official in charge of international tax policy, visited Brussels on Friday to express Washington’s fears about bias in the commission’s high-profile tax investigations, according to the Financial Times.
This issue is highly divisive because public and political anger is growing on both sides of the Atlantic that US multinationals have mastered the art of accumulating vast stockpiles of largely untaxed international earnings.
However, the US Treasury argues that most of this money is simply deferred and will have to be repatriated for taxation in the US, although there is no precise timetable for this.”
The complete article is available here.
Slowly but surely (battle) lines are quietly being drawn…
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