At the end of March, multinational manufacturer of construction and mining equipment, Caterpillar, was brought before the US Senate to explain its tax affairs, accused of profit shifting and aggressive tax planning. Mirna Screpante, tax researcher, describes the tax effects caused by the model currently accused of avoiding taxes.
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Despite the relief, Brazil’s government has also presented a bill which seeks to re-impose a tax burden on companies’ payroll, one local tax specialist told ITR
While successful pillar two implementation will require collaboration across all units, a combination of internal and external tax advice is at the centre of the effort