Sec. 3. Reports on results of WTO negotiations to revise WTO rules regarding border taxes and free trade agreements regarding border taxes
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Not later than 60 days after the completion of WTO negotiations, or by January 1, 2018, whichever occurs first, the United States Trade Representative shall submit to Congress a report certifying whether or not each of the United States trade negotiating objectives regarding border tax treatment, as specified in paragraph (2), has been met as a result of such negotiations. The United States trade negotiating objectives regarding border tax treatment specified in this paragraph are the following:
With respect to trade in goods, the revision of WTO rules with respect to the treatment of border adjustments for internal taxes to redress the disadvantage to countries relying primarily on direct taxes for revenue rather than indirect taxes, as provided for in section 102(b)(18) of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 ( 19 U.S.C. 4201(b)(18) ). With respect to trade in services— the elimination of the disadvantage in trade in services that exists for countries relying primarily on direct taxes that are not adjusted at the border rather than indirect taxes that are adjusted at the border; and the revision of WTO rules regarding trade in services to ensure that such rules do not result in disparate treatment of border adjustments for internal taxes based on the direct or indirect nature of such taxes.
In this subsection, the terms WTO negotiations and negotiations mean any World Trade Organization negotiations that may result in revisions to WTO rules to meet the United States trade negotiating objectives regarding border tax treatment, as specified in paragraph (2). Not later than one year after the date of the enactment of this Act, the United States Trade Representative shall submit to Congress a report certifying whether or not each covered country that is a party to a multilateral, bilateral, and regional trade agreement that has entered into force on or before such date of enactment with respect to the United States and such covered country is taking or has taken the actions regarding border tax treatment, as specified in paragraph (2).
The actions regarding border tax treatment specified in this paragraph are the following: With respect to trade in goods, the revision of laws of the covered country with respect to the treatment of border adjustments for internal taxes to redress the disadvantage to countries relying primarily on direct taxes for revenue rather than indirect taxes. With respect to trade in services— the elimination of the disadvantage in trade in services that exists for countries relying primarily on direct taxes that are not adjusted at the border rather than indirect taxes that are adjusted at the border; and the revision of laws of the covered country regarding trade in services to ensure that such laws do not result in disparate treatment of border adjustments for internal taxes based on the direct or indirect nature of such taxes.
In this subsection, the term covered country means a country that relies primarily on indirect taxes that are adjusted at the border rather than direct taxes that are not adjusted at the border.
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Sec. 3
Reports on results of WTO negotiations to revise WTO rules regarding border taxes and free trade agreements regarding border taxes
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