The US Treasury Department secretly expanded tax incentives for financial corporations and cryptocurrencies, causing great controversy in the political world.
The U.S. Treasury Department is quietly rolling out a series of new rules that would give special tax breaks to private equity funds, cryptocurrency companies, foreign real estate investors, and other multinational corporations — without Congress passing the law.
According to sources from The New York Times cited by ChainCatcher and Jinshi , the US Treasury Department and Internal Revenue Service (IRS) have issued a series of new tax regulation proposals in the past few months, which are considered to be able to profoundly change the corporate tax structure in the US.
In October, the IRS announced a proposal to allow foreign investors to receive tax breaks or exemptions when Capital in U.S. real estate, with the goal of attracting more international Capital . In August, the agency also proposed loosening anti-tax evasion regulations, which prevent multinational corporations from duplicating losses in different countries to reduce their tax liability.
Although these changes have not yet made headlines in the US media, in the accounting, finance and tax consulting world, these regulations are a “hot” topic. Many experts believe that this is a cautious but ambitious step by the Ministry of Finance in reshaping tax policy after a period of strong economic fluctuations.
