National Economic Council Director Gary Cohn said Sunday that the Trump administration's proposed tax on offshore profits would be in the "10% range."
The long-awaited tax framework unveiled by White House advisers and congressional leaders last week didn't specify the rates for the one-time tax U.S. companies would be subject to for their accumulated offshore profits. The plan just said there would be a higher rate for income held in cash compared to the rate for less liquid investments.
Cohn, a member of the so-called Big Six involved in the tax negotiations, didn't elaborate during an interview on Fox News' "Sunday Morning Futures" on whether the range he mentioned would apply to cash or non-cash holdings.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
