Obama’s proposals in the budget include a tax increase of 19% on foreign profits
Obama’s proposals in the budget include a tax increase of 19% on foreign profits
Sunday, February 1st, 2015 12:30
BAGHDAD / follow Baghdadi News / … the beginning of a US official said the US budget that President Barack Obama’s proposals on the budget will include a minimum tax of 19 percent on subsequent gains of foreign companies based in the United States-based and the tax rate of 14 percent on profits Foreign accumulated.
“The tax is part of the planned budget plan is estimated at $ 3.99 trillion will be applied, on Monday, aims to help the middle class and poor Americans to increase taxes on the rich.”
The official said that “the new proposals will be part of a larger attempt to reform the US tax code and reduce the current rate of companies from 35 percent despite the fact that a small number of companies is to pay the higher rate.”
But Obama and the Republicans who now control Congress disagree on the size and reduce the tax rate on tax exemptions that should be eliminated or reduced to compensate for the lost revenue.
He indicated that Obama wants to use the new revenue to finance infrastructure projects and that these two items in addition to the extension of certain laws of the expected end for which will provide $ 565 billion over ten Snoat.anthy 21 / N
albaghdadianews.com
