The U.S. Congress signed the CARES Act, which provides $2.2 trillion of support for businesses and other groups affected by the pandemic. We summarize some critical elements of the Act that multinational businesses operating in the U.S. should know.
U.S. companies that are 25 percent or more foreign-owned, foreign companies that are engaged in business with the U.S., and certain other multinationals must file a Form 5472 with their corporate U.S. tax return if they engage in a reportable transaction. The form isn't new, but related reporting requirements and penalties have been expanded.
The U.S. Treasury and IRS released guidance this month on the base erosion and anti-abuse tax and the foreign tax credit. We summarize the BEAT and FTC regulations so you’ll understand how they’ll affect your multinational organization.
On September 5, the IRS published proposed regulations related to Sections 451(b) and 451(c) of the Internal Revenue Code, providing long-awaited guidance for taxpayers that use an accrual accounting method and have an applicable financial statement and/or receive advance payments.
Leaders from the G7 countries concluded their annual three-day summit yesterday. A storyline involving France, the U.S., digital taxation and wine tariffs illuminates some of the most important economic issues of our time.
If you’re a business based outside the U.S. and looking to expand into that market, you’ll need to incorporate your business in a particular U.S. state. Delaware is one of the most desirable U.S. locations for both foreign and domestic businesses to incorporate. This post provides some details about the state’s advantages, and explains why your business needs to consider incorporating in Delaware without assuming it’s the best option.
The U.S. Tax Cuts and Jobs Act includes the Opportunity Zones program, which offers tax incentives to businesses that invest in distressed communities. Non-U.S. entities can take advantage of the program’s tax-deferral provisions.
The US’s tax overhaul has serious ramifications for businesses. Here are some important considerations for all companies operating in the US.
A new US tax proposal calls for significant changes in the way multinational companies are taxed, including a 20 percent corporate tax rate. Here are some important features for US-based multinationals and foreign companies operating in the US.
President Trump’s new tax proposal calls for a reduction of the corporate tax rate from 35 to 15 percent, a repeal of the corporate alternate minimum tax and an end to most tax deductions. This post tells you why reaction to the plan has been mixed, if it's feasible and if it's likely to pass into law.
The UK's Making Tax Digital measure will help businesses stay on top of their affairs and make fewer tax mistakes. The plan is part of a worldwide movement to digitize tax collection.
If House GOP leaders and Trump have their way, a border adjustment tax, or BAT, could replace the existing US Federal corporate income tax code. As a result, US corporate leaders need to know the basics of BAT.