Is Trump’s ‘Revenge Tax’ About to Shake Your US Investments—And How to Outsmart the Storm Before It Hits?
How does Section 899 affect ME?
Yes, I hear you.
The most likely impact at the time of writing is that you, an individual resident in a major US trading partner and ally, quietly building up your nest egg chock full of American assets, could be on the hook to pay a higher rate of US withholding tax (WHT).
There could be other spillover effects too but I’m going to concentrate on the most immediate – and talk about how you could mitigate the worst, should it happen.
Currently, withholding tax is due on income paid by US assets to overseas owners.
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