The US Congress is inching closer to the largest tax reform package since 1986 and the House just approved its $1.5 trillion plan, and the Senate is still working the kinks out of its proposal. The race to get legislation to the president’s desk by the end of the year is on.
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The flagship 2025 tax legislation has sprawling implications for multinationals, including changes to GILTI and foreign-derived intangible income. Barry Herzog of HSF Kramer assesses the impact
Rolling out the global minimum tax has increased complexity, according to Baker McKenzie; in other news, Donald Trump has announced a 25% tariff on countries doing business with Iran