Tucked within the proposed “Big Beautiful Bill”, the more than 1,000-page tax and spending overhaul that United States President Donald Trump wants to see enacted in law, is a provision that is being referred to as a “revenge tax”.
The “Enforcement of Remedies Against Unfair Foreign Taxes” in Section 899 targets countries that the Trump administration believes impose unfair or discriminatory taxes on US companies and individuals, and will allow the US to impose additional taxes on entities from those countries.
