Reported about 15 hours ago
Six investment groups have requested the exemption of passive income from a proposed tax targeting foreign investors in a letter to Senate Republicans. They argue that imposing new taxes on passive investments could deter foreign investments in the U.S. and disrupt financial markets. The tax, which could reach up to 20% on passive income, is planned to be implemented in 2027, following concerns over causing unnecessary sell-offs of assets.
Source: YAHOO