US tax reform affecting EU citizens and SMEs

EN E-000723/2018 Reply (3.5.2018) The new US tax reform, its potential impact and its compatibility with internationally recognised rules are currently being assessed within the Council. An assessment is also ongoing of the General Intangible Low Taxed Income (GILTI) scheme and the consequences it may have in particular on actors within the EU. As for the other aspects of your question, it is a principle of international law that the sovereignty of each state implies that it can freely define its taxpayers. Therefore, it is not for the Council to interpret the legal provisions concerning taxpayers in specific non-EU countries. With regard to bilateral tax treaties, it is not for the Council to interpret the legal provisions of international acts concluded by the Member States.