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U.S. Skeptical About Permanent Safe Harbor for GLOBE Tax Framework

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'Phantom FDI' in Sharp Decline, European Commission Says

  • By Elodie Lamer

So-called phantom foreign direct investment, often undertaken through shell special purpose vehicles, has declined sharply since 2021, the European Commission said, noting the U.S. Tax Cuts and Jobs Act’s major effects on cross-border financial flows.

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