Finance ministers from Europe’s five biggest economies warned U.S. Treasury Secretary Steve Mnuchin that the tax plan currently wending its way through Congress may contravene international treaties on double taxation and hurt trade flows.
“The inclusion of certain less conventional international tax provisions could contravene the U.S.’s double taxation treaties and may risk having a major distortive impact on international trade,” the ministers from Germany, France, the U.K., Italy and Spain said in a letter to Mnuchin released Monday.
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