A new executive order signed by President Trump indicates he may use s.891 of the US Internal Revenue Code, which allows him to double the US tax rates imposed on citizens and corporations of certain foreign countries if it is determined that they are subjecting US citizens to discriminatory or extraterritorial taxes.
Section 891's use is solely at the president’s discretion but has never previously been invoked. It is uncertain whether existing tax treaties affect its application or whether US citizens with dual citizenship may be subject to it.
新聞連結：【2025/1/22 EY】