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July 19, 2018

New Tax Law Still Offers Incentives for Use of Tax Havens

The Tax Cuts and Jobs Act (TCJA), passed in December of 2017, was aimed at dissuading U.S. companies from moving profits offshore. However, it may make shifting earnings to tax havens more beneficial for some companies.

Before the TCJA, companies that offloaded profits linked to sales, research or production were taxed at a 35% rate when the profits were brought to the United States. The TCJA moved the U.S. to a “territorial” system, which was meant to reduce or eliminate the incentive for companies to invert to avoid U.S. taxes on foreign income. (more…)

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Categories: Tax Reform
Tags: Corporate Tax Rate, Domestic tax, Tax Cuts and Jobs Act, Territorial tax system,
May 31, 2017

How the U.S. Stacks up Against Foreign Competition and Corporate Tax Rates

The Congressional Budget Office (CBO) updated its report comparing the corporate income tax rates of the U.S. and other G20 countries.

The report examines not only the statutory top rates, of which the U.S. has the highest, but also provides information on the average and effective corporate tax rates, including insight as to how certain corporate decision-making is influenced by each. (more…)

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Categories: International Business Issues
Tags: Corporate Tax Rate, income tax rates, international tax, Michael McAndrews, President Trump,

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