HB1037
Type: B Origin: House USA Comments: 0

Territorial Tax Parity And Clarification Act

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The Territorial Tax Parity and Clarification Act aims to ensure fairness in taxation for U.S. corporations operating overseas by clarifying provisions related to territorial tax systems. The bill seeks to prevent double taxation on foreign income, promote competitiveness of American businesses abroad, and simplify the international tax system. It proposes changes to existing laws to provide clarity on the treatment of foreign income and deductions, ultimately aiming to create a more balanced and efficient tax environment for U.S. companies operating globally.

Bill Activity

  • 2023-02-14: Introduced in House

  • 2023-02-14: Referred to the House Committee on Ways and Means.

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