Boeing Co, the biggest planemaker, and Motorola Inc are among the US companies that will be the most hurt from a bill that proposes to scrap a 30-year old corporate tax break, the Wall Street Journal reported, citing US Representative Amo Houghton. The US is facing pressure from the WTO to end its Extraterritorial Income Exclusion, which has helped US exporters preserve their profits, the WSJ said. The US$5 billion-a-year subsidy sparked a trading dispute between the US and Europe.
Home / World Business Quick Take
Thu, May 02, 2002 - Page 21 News List
US firms stand to lose
This story has been viewed 2029 times.
Listing from 2015-03-20 to 2015-03-27
- Most read
- Most e-mailed
1TSU slams ‘soft’ flight path discussions
2Outdoor forum invites discussion on legislative reform
3Ma makes unexpected visit to Singapore
4China’s South China Sea claim has no legal basis: Widodo
5UK tax could drive banks out of London