Offshore Tax Will Hit Some Firms Harder Than Others
Despite the intangible in its name, the levy applies broadly to income.
By Lynnley Browning, Bloomberg|December 28, 2017 at 05:13 AM|Originally published on Treasuryandrisk.Com
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The name that Republican tax writers gave to a new, multibillion-dollar business levy implies that it targets foreign earnings from “intangible” intellectual property—hitting tech firms and drugmakers like Apple and Pfizer.
Meanwhile, president of National Foreign Trade Council warns: “This can’t be a mechanism to start raising tariffs on everything. There’d be no end to it.”
Company aims to boost liquidity and pay for rising programming costs. Investors continue to buy its debt, expecting growth in subscriber base to eventually turn cash flows positive.
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