February 24, 2021

US tax reform promises big income boost for German carmakers

US tax reform promises big income boost for German carmakersGerman carmakers Daimler and BMW said Friday a new sweeping US tax reform giving major breaks to corporations will add hundreds of millions of euros to their 2017 earnings. The controversial tax overhaul signed into law Friday by billionaire President Donald Trump will slash the US corporate tax rate from 35 percent to 21 percent. As a result, Daimler projected its net income to grow by around 1.7 billion euros ($2 billion) this year.


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