The US Senate Finance Committee last week examined the role of extenders – tax provisions that require renewing annually – within the tax system, in the context of fundamental reform of the US tax code. Witnesses said waiting for comprehensive reform would distort business decisions, urging quick action on expired and expiring extenders.
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The OECD had previously missed a June 30 deadline to agree an MLC on amount A; in other news, UK corporation tax bills surged to a record high last year