The global financial chaos has put a strain on corporate profits, reducing profits tax revenues. Together with the cost of fiscal stimulus measures, the downturn has resulted in historic budget deficits in many countries. Tatpicha Pipatmongkolchai of Taxand Thailand examines the impact of this on indirect tax trends.
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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