WASHINGTON, DC – National Foreign Trade Council (NFTC) Vice President for International Tax Policy Anne Gordon today issued a statement following the U.S. Treasury Department’s progress with the G-7 on preventing U.S. companies from being subject to Pillar Two taxes:
“We welcome Secretary Bessent’s announcement of a deal that will prevent the application of Pillar Two taxes, including the Undertaxed Profits Rule (UTPR), to U.S. companies. We look forward to a broader and durable agreement from the OECD-G20 Inclusive Framework.
“Ensuring ongoing international acceptance of the U.S. tax system as compliant with the OECD regime is an achievement that not only protects American businesses from discriminatory extraterritorial taxation but also reasserts the robustness of the U.S. tax framework internationally.
“NFTC applauds Treasury, as well as Chairmen Smith and Crapo, for their continued leadership and efforts to safeguard U.S. economic interests and American competitiveness on the global stage.”
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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.
