Press Release: EU welcomes repeal of US tax breaks to US exporters, will withdraw reintroduction of sanctions

The European Union on 12 May 2006 warmly welcomed the repeal by the US Congress of WTO-incompatible tax breaks for US companies contained in the Jobs Act. The US repealed the tax benefits as part of wider tax legislation. The EU welcomed the constructive work of the USTR’s office and Chairman Bill Thomas and Chairman Charles Grassley in removing the measures from US law.

• Primary Source

European Commission: Memo: MEMO/06/72: Foreign Sales Corporation: FAQs, 13.5.06 http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/06/72&format=HTML&aged=0&language=EN&guiLanguage=fr

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