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Cohn Says Repatriation Tax Rate To Be in '10% Range'

Administration eyes the estimated $2.6T in offshore money.

By Ben Brody, Bloomberg | Updated on October 01, 2017

National Economic Council Director Gary Cohn said Sunday that the Trump administration’s proposed tax on offshore profits would be in the “10% range.”

The long-awaited tax framework unveiled by White House advisers and congressional leaders last week didn’t specify the rates for the one-time tax U.S. companies would be subject to for their accumulated offshore profits. The plan just said there would be a higher rate for income held in cash compared to the rate for less liquid investments.

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