U.S. oil companies have been pushing for changes to U.S. corporate tax laws that require them to pay taxes on foreign earnings, and news that the European Union’s antitrust regulator is requiring Ireland to claw back billions in tax dollars from Apple Inc. AAPL -0.77 % could strengthen their case. Oil chiefs, like many other executives in different sectors, have said federal tax policy represents double taxation because companies have to pay to other countries for operations there and then face U.S. taxes on world-wide earnings. “American companies are disadvantaged on tax policy,” John Watson , the CEO of Chevron Corp. CVX -0.34 % , said in an interview with The Wall Street Journal in April. “We have to have a dialogue about what will be effective policies to enable American companies to compete and have a level playing field.” Due to a U.S. exemption that doesn’t require the […]

Posted in: USA