US appeals WTO ruling on tax breaks
The US has lodged an appeal with the World Trade Organisation over its ruling in a long-running dispute with the EU over foreign sales corporations. The WTO ruled in August that the tax break scheme for US exporters contravenes trade rules and allowed the EU to impose sanctions of up to $4 billion on US goods. The US appeal means that the EU will have to wait a further 60 days before it can impose the sanctions.
The US has lodged an appeal with the World Trade Organisation over its ruling in a long-running dispute with the EU over foreign sales corporations. The WTO ruled in August that the tax break scheme for US exporters contravenes trade rules and allowed the EU to impose sanctions of up to $4 billion on US goods. The US appeal means that the EU will have to wait a further 60 days before it can impose the sanctions.
