Recent developments that matter from around the globe, reported by Tim Sarson (KPMG).
Biden announces major business tax proposals
President Biden’s corporate tax agenda has dominated the US headlines over the past month. At the end of March Biden announced an ambitious American jobs plan setting out an eight-year $2.25 trillion plan to rebuild the US’s infrastructure. The cost will be covered over a 15-year period with increased corporate tax rates.
The Made in America tax plan report sets out these corporate tax rate increases promising to ‘fix the corporate tax code’. The plan sets out a number of well trailed proposals from Biden’s presidential campaign. These include an increase to the statutory corporate tax rate from 21% to 28% a new corporate minimum tax of 15% on global book income of large corporations and an increase in the global intangible low-taxed income (GILTI)...
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Recent developments that matter from around the globe, reported by Tim Sarson (KPMG).
Biden announces major business tax proposals
President Biden’s corporate tax agenda has dominated the US headlines over the past month. At the end of March Biden announced an ambitious American jobs plan setting out an eight-year $2.25 trillion plan to rebuild the US’s infrastructure. The cost will be covered over a 15-year period with increased corporate tax rates.
The Made in America tax plan report sets out these corporate tax rate increases promising to ‘fix the corporate tax code’. The plan sets out a number of well trailed proposals from Biden’s presidential campaign. These include an increase to the statutory corporate tax rate from 21% to 28% a new corporate minimum tax of 15% on global book income of large corporations and an increase in the global intangible low-taxed income (GILTI)...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
