AmCham HK Strongly Supports Shift to Territorial Taxation for U.S. Corporations and Individuals

HONG KONG, Nov. 6, 2017 /PRNewswire/ -- The American Chamber of Commerce in Hong Kong submitted a letter to the President of the United States on November 3 calling for the U.S. to shift to a system of territorial taxation for corporations and individuals to boost U.S. competitiveness in doing business overseas.

In summary, AmCham strongly encourages the U.S. President and Congress to:

• Enact tax reform which achieves the benefits of territorial taxation for both corporations and individuals; and
• Alternatively, consider increasing the exclusions under Section 911 of the Internal Revenue Code (IRC) to a level that effectively covers the actual costs of living overseas

AmCham views that these options would not only create more economic opportunities for Americans, but would clearly unite with "America First" policies through making U.S. companies and executives more competitive both at home and overseas.

Please click the following link for the Full Text of the Letter.

Full Text: http://www.amcham.org.hk/uploads/media/default/0001/04/0ebba434bcb3550ca01535eb5db0b55ddd8e8614.pdf 

Please contact the following persons for further details or interview arrangement.

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With roughly 1,600 members, the American Chamber of Commerce in Hong Kong (AmCham) is one of the largest American Chambers outside the United States, the largest international chamber in Hong Kong, and one of the most dynamic and influential international business organizations in the Asia-Pacific region. AmCham's mission is to foster commerce among the United States, Hong Kong, and Mainland China; and to enhance Hong Kong'sstature as an international business center.