In Germany, Ways & Means Members Highlight How OECD Global Tax Deal Harms Jobs, Emboldens China, and Would Spark Global Tax Instability

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"I'd like to talk about Section 49 of the German Income Tax Act the subject of a recent letter I sent to Finance Minister Lindner. American companies are particularly concerned with how Germany is pursuing taxation of royalties by non-German entities -- we're really concerned about it, and it creates an unfair playing field in the global market, particularly if this tax is retroactive. German advisers have informed our companies that they would like voluntary disclosure of some of their proprietary information -- so we need to know more about where your government is going with this. This is very significant overreach. And we humbly ask as that you look at repealing this provision as it creates a significant hardship on us collaboratively working together, and our companies."

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