EO: The Organization for Economic Co-operation and Development (OECD) Global Tax Deal (Global Tax)
Feb 9, 2025 ·
10m
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Description
Rejecting the OECD Global Tax Deal: Safeguarding U.S. Sovereignty and Economic Competitiveness This January 20, 2025 White House memorandum rescinds the prior administration's commitment to the OECD Global Tax Deal,...
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Rejecting the OECD Global Tax Deal: Safeguarding U.S. Sovereignty and Economic Competitiveness
This January 20, 2025 White House memorandum rescinds the prior administration's commitment to the OECD Global Tax Deal, asserting that it undermines U.S. sovereignty and economic competitiveness by granting extraterritorial jurisdiction over American income. The memorandum directs the Treasury Secretary and other officials to notify the OECD of this decision and investigate potentially discriminatory foreign tax practices. It further instructs the Treasury Secretary to develop options for protective measures against such practices and report these options to the President within 60 days. The memorandum explicitly states that it does not create any legally enforceable rights. Finally, it clarifies that it does not affect existing executive authority or OMB functions.
show less
This January 20, 2025 White House memorandum rescinds the prior administration's commitment to the OECD Global Tax Deal, asserting that it undermines U.S. sovereignty and economic competitiveness by granting extraterritorial jurisdiction over American income. The memorandum directs the Treasury Secretary and other officials to notify the OECD of this decision and investigate potentially discriminatory foreign tax practices. It further instructs the Treasury Secretary to develop options for protective measures against such practices and report these options to the President within 60 days. The memorandum explicitly states that it does not create any legally enforceable rights. Finally, it clarifies that it does not affect existing executive authority or OMB functions.
Information
| Author | C. Lege |
| Organization | Chad Lege |
| Website | - |
| Tags |
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