Tim Sarson (KPMG) assesses the latest developments that matter in the international tax arena.
One story has dominated the business and mainstream media this month – the US presidential election unexpectedly won by Republican Donald Trump. Most commentators agree that there is uncertainty around the policy goals of the president-elect. However one area where there is the potential for rapid agreement with Congress is in tax reform an area where President-elect Trump has identified a few goals:
A dramatic reduction in the tax rate to 15% for ‘all businesses both small and large that want to retain the profits within the business’.
A repatriation of untaxed foreign earnings of US multinational corporations at a one-time 10% rate. Companies that choose not to repatriate could be subject to the 10% rate anyway in an attempt to...
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Tim Sarson (KPMG) assesses the latest developments that matter in the international tax arena.
One story has dominated the business and mainstream media this month – the US presidential election unexpectedly won by Republican Donald Trump. Most commentators agree that there is uncertainty around the policy goals of the president-elect. However one area where there is the potential for rapid agreement with Congress is in tax reform an area where President-elect Trump has identified a few goals:
A dramatic reduction in the tax rate to 15% for ‘all businesses both small and large that want to retain the profits within the business’.
A repatriation of untaxed foreign earnings of US multinational corporations at a one-time 10% rate. Companies that choose not to repatriate could be subject to the 10% rate anyway in an attempt to...
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:
