New administration to create new “External Revenue Service” agency to collect revenue from foreign sources

OS AI Take: Those firms supporting DHS CBP and Treasury will want to take note as any new agency will provide opportunity. More to be shared as it is made available.


Jan 14 (Reuters) – U.S. President-elect Donald Trump said on Tuesday he will create a new government agency called the External Revenue Service “to collect tariffs, duties, and all revenue” from foreign sources as he readies new import tariffs ahead of his inauguration next week.
Trump said in a social media post he would create the department on Jan. 20, the day he takes office as president for a second term …

… Trump did not specify whether the new agency would replace collections, opens new tab of tariffs, duties, fees and fines by U.S. Customs and Border Protection or collection of taxes on foreign corporate and individual income by the IRS.

It also was unclear whether the move would create additional government bureaucracy, which would appear to go against the plans of Trump’s informal Department of Government Efficiency … Read The Full Article Here

Source: Reuters, Trump says he will create new agency to collect revenue from foreign sources By Ryan Patrick Jones and David Lawder

Ad



Not Yet a Premium Partner/Sponsor? Learn more about the OS AI Premium Corporate and Individual Plans here. Plans start at $295 annually.

LEAVE A REPLY

Please enter your comment!
Please enter your name here