Multinational corporations need to understand the U.S.’s evolving tax rules within the context of the changing global tax landscape, including new and tighter restrictions on profit-shifting. The combination of these factors seriously affects what multinationals need to consider from a tax perspective, and how frequently they need to review their existing structures. We have gathered some of our top experts to discuss changes to the U.S. corporate and individual tax regime and how they may affect your organization’s expansion plans
The international tax landscape has undergone radical changes in the last half dozen years. Tax authorities across the globe are implementing strict requirements and enhanced enforcement practices that target perceived tax base erosion and profit shifting. Multinationals everywhere are being forced to increase corporate transparency and disclosure. In short, the rules for and risks of minimizing tax are evolving fast. Perhaps no requirements have undergone such widespread changes as those related to transfer pricing — particularly the OECD’s three-tiered approach to multi-jurisdictional transfer pricing documentation, involving a master file, local file and country-by-country reporting (CbCR). Multinational enterprises of all sizes must understand their related obligations in all relevant jurisdictions to avoid potential double-taxation assessments, penalties and reputational damage.