British business opposed tougher tax regime for U.S.

Confederation of British Industry opposed the adoption of the bill, which would significantly increase the tax burden on many multinational companies in the United States. This bill prohibits companies to optimize taxes with the scheme, which provides for the transfer of funds from the U.S. division headquarters across the country have entered into tax treaties with the United States.

“These companies are not doing anything illegal. They take advantage of tax treaties concluded by the United States,” - said the Confederation of British Industry. American administration was warned that the bill could undermine America’s reputation as a jurisdiction with favorable conditions for business. “We do not need. We can go to Canada or Mexico,” - said in the leadership of one of the transnational companies in an interview with Financial Times.

developer of the bill was Democratic U.S. Congressman Lloyd Doggett. Many Republicans have opposed his initiatives. They note that the bill would jeopardize the 5 million jobs created in the U.S. by foreign companies that have U.S. units.

27 August 2007 | adoption, agreement, bill, confederation, departments, industry, load, mode, usa

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