Companies Say They Can Ignore Cost of U.S. Rule Ending International Tax Maneuver

Consumer-products conglomerate Newell Brands Inc., facing $180 million to $220 million in taxes because of Treasury Department antiabuse regulations, isn’t recognizing those costs in its financial statement, contending the new rules aren’t valid.

The move presages a legal fight between companies and the government. Beyond tax revenue, the outcome may shape the government’s ability to implement some of the most sweeping provisions of the 2017 tax law while Congress remains deadlocked over technical fixes.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. Companies Say Trade War Is Hitting China OperationsMore American companies are hurting as the U.S.-China trade war intensifies, a new survey of businesses shows, with many saying they are losing sales in China and either slowing or canceling investments. We shouldn’t have been so dependant on China Over exaggerations China TRADEWAR is HURTING every Department store, soon we will be seen. Trump said it won't affect till AFTER Christmas, but I'm seeing large Hikes in prices on appliances, Furnishings NOW due to TARIFFS. I wonder how hard it will hit jan2020.
Source: WSJ - 🏆 98. / 63 Read more »