Friday, July 28, 2017

Border tariff removed from tax reform plan

The import tax proposal has officially been removed from the tax reform plan — which is welcome news for retailers across the industry.

On Thursday, congressional and administration leaders announced they would remove the Border Adjustment Tax (BAT) from consideration, and announced an outline for comprehensive tax reform. The BAT provision would have ended importers’ ability to deduct the cost of merchandise purchased from other countries.. . . more

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