Part One: FACT’s 2023 Springboard for International Tax and Tax Transparency Reforms
2023 promises to be a very busy year for FACT as we continue to push for international tax reform to fight tax dodging by large multinationals.
Treasury Releases Second Draft Rule to Implement the Corporate Transparency Act
Less than a week after the conclusion of the IACC, the Biden Administration took another big step toward meeting its anti-money laundering and anti-corruption commitments with the release of the second draft rule to implement the Corporate Transparency Act early today.
Law360: Midterms Unlikely to Revive Debate Over Int’l Taxes in US
“Whoever is in power after the election is going to be facing pressure to addressing expiring tax cuts from the Tax Cuts and Jobs Act, protect popular social spending provisions in the tax code and navigate international tax reform efforts that seem to be happening with or without the United states that will impact U.S. multinationals,” Gurule said.
FACT Sheet: The Case for Ending U.S. Base Erosion through Excess Interest Deductions via 163(n)
Section 163(n) would protect the U.S. tax base by ending the practice in which multinational corporations take excessive interest deductions against U.S. taxable income that do not reflect commensurate investment in U.S. markets
International Tax Reform in Build Back Better Act a Promising Start
Build Back Better offers a first step toward meaningfully curbing tax-haven abuse, protecting American jobs, and beginning to meet the challenge set by the Biden Administration to end the international race to the bottom in corporate tax collections.
Congress Must Strengthen Proposed International Tax Measures in Line with Biden’s Tax Plans
FACT urges the House Ways & Means Committee to make critical revisions to its draft Committee Tax Plan (the “Plan”) to help curb tax-haven abuse, protect American jobs, and begin to meet the challenge set by the Biden Administration to end the international race to the bottom in corporate tax collections.