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.