OrbitaxU.S. Representatives Introduce Legislation to Disallow FTCs and Other Tax Benefits for Companies Operating in Russia and Belarus
|Proposed Changes|United States
On 1 June 2022, U.S. Representative Jared Golden (D-ME) announced the introduction of the "Support Ukraine Through Our Tax Code Act" in the House of Representatives, which would deny foreign tax credits and other tax benefits to companies that pay taxes to Russia and Belarus. The draft legislation is in line with companion legislation introduced in the Senate in May 2022 by Senators Ron Wyden (…
Continue Reading
