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IET meaning in Business ?

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Answer: What is Interest Equalization Tax mean?

Interest Equalization Tax was a domestic tax measure implemented by U.S. President John F. Kennedy in July 1963. It was meant to make it less profitable for U.S. investors to invest abroad by taxing the purchase of foreign securities. The design of the tax was to reduce the balance-of-payment deficit. Originally intended to be a temporary tax, it lasted until 1974.

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