Since the early 1960s the US corporate tax structure has remained relatively similar, while the world around it has changed radically. But as the percentage of total US tax revenues contributed from the corporate income tax continues to shrink (at the same time as tax rates worldwide continue to drop), Congress is looking hard at what is going wrong. But Douglas Stransky, of Sullivan & Worcester, asks if it is looking in the right place.
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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