118th Congress · HOUSE BILLBILL

H.R. 4695 — Unfair Tax Prevention Act

“To amend the Internal Revenue Code of 1986 to modify the application of the base erosion and anti-abuse tax with respect to certain entities connected to jurisdictions which have implemented an extraterritorial tax.”

Taxation

Introduced Jul 18, 2023

Last action Jul 18, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jul 18, 2023

Step 2

Referred

Jul 18, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill imposes reciprocal taxes on foreign jurisdictions that attempt to impose certain surtaxes on U.S. business operations.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Jul 18, 2023

Introduced in House

Jul 18, 2023

Referred to the House Committee on Ways and Means.