27 November 2012
Matthew Gilleard - ITR
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International Tax Review provides you with full coverage of the developments surrounding comprehensive reform of the US tax code and what it could mean for your business' bottom line.
Download the special report as a PDF
The past 12 months have seen stagnation and inaction on US
corporate tax reform. They have also seen the US rise to the
unenvied position of first in the world when it comes to having
the highest corporate tax rate. With the re-election of
President Barack Obama, American corporate taxpayers finally
have some degree of certainty of what is in store in 2013.
Republicans have maintained control of the House of
Representatives, meaning bipartisan support is necessary for
legislation to pass. Agreement has been reached on certain
points, but comprehensive tax reform will require greater
convergence and compromise between Obama and Congress.
This special report combines ITR's coverage of
2012's pivotal tax reform moments, highlighting why the
decisions of US multinationals to relocate overseas should be a
clear signal to lawmakers that reform is necessary. The report
also looks at whether an additional revenue stream will be
required, and whether a European-style VAT might be
the answer, before culminating in a post-election analysis
of what Obama is likely to do next, and whether the
political gridlock of the last year has caused a shift in the
way business thinks about the issue of corporate tax
This information will help you garner a clear understanding
of what the US tax code will look like in 2013, and what your
business can do to prepare for such changes. Join your peers by
engaging in the debate on LinkedIn and Twitter. The ITR
Twitter handle is @Intltaxreview and you can share your views
@HansvandenHurk @JudithFreedman @PSaintAmans Recent statements show US believes it will lose out if it turns out how some others want
@TaxJusticeNet @OECDtax Automatic exchange of information gets closer with publication of global standard http://t.co/xUVZ6HLs3W
RT @JorgeCorreaC: OECD releases full version of global AEOI standard @OECDtax @TaxAnalysts @IntlTaxReview http://t.co/gZWi3q2jUK
As those involved in the OECD's base erosion and profit shifting (BEPS) project reach for the halftime oranges and energy drinks, our special BEPS feature looks at the progress made to date and explores the hurdles that litter the track ahead as the bell rings to signify the last lap in this race against an ambitious timeframe to produce meaningful outcomes. The finish line is fast approaching, but while the podium, medals and bouquets are being readied, this last lap is sure to be a tough, sweaty slog to completion, and with the volume of work to be done, success could come down to a photo finish.
Which possible outcome of the G20 / OECD BEPS project would carry the biggest fear for your company?
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