The US Budget Reconciliation Bill includes proposals for retaliatory measures against jurisdictions which are deemed to have ‘unfair foreign tax’ which from a UK perspective will include the digital services tax diverted profits tax or undertaxed profits rule (UTPR). The Bill has now been approved by the House of Representatives and will now go to the Senate where it may be amended (see also pages 9 and 18).
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The US Budget Reconciliation Bill includes proposals for retaliatory measures against jurisdictions which are deemed to have ‘unfair foreign tax’ which from a UK perspective will include the digital services tax diverted profits tax or undertaxed profits rule (UTPR). The Bill has now been approved by the House of Representatives and will now go to the Senate where it may be amended (see also pages 9 and 18).
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