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Digital Services Taxes in Europe

TweetShareSharePin0 Shares Over the last few years, concerns have been raised that the existing international tax system does not properly capture the digitalization of the economy. Under current international tax rules, multinationals generally pay corporate income tax where production occurs rather than where consumers or, specifically for the digital sector, users are located. However, some

It’s Going To Be A Long December

TweetShareSharePin0 Shares The Senate is likely to take at least a month to “Build Back Better.” The Senate is start on its version of the Build Back Better (BBB) tax and spending package the House passed on Friday. The Senate is almost certain to make changes. Among the most contentious issues: The fate of the

House About To Pass Build Back Better

TweetShareSharePin0 Shares And now, to the Senate, really.  This morning, the House plans to pass a scaled-down version of President Biden’s Build Back Better social spending, climate, and tax bill. The measure would extend the expanded Child Tax Credit for a year, raise the cap on the state and local tax (SALT) deduction, create a new minimum tax on corporate book

House Set to Pass Build Back Better Today

TweetShareSharePin0 Shares And now, to the Senate, really.  This morning, the House plans to pass a scaled-down version of President Biden’s Build Back Better social spending, climate, and tax bill. The measure would extend the expanded Child Tax Credit for a year, raise the cap on the state and local tax (SALT) deduction, create a new minimum tax on corporate book

Who Gets Hit by the Book Minimum Tax?

TweetShareSharePin0 Shares The current version of the reconciliation bill—the Build Back Better Act—attempts to walk a fine (politically imposed) line: raising hundreds of billions of dollars from higher corporate taxes without raising the corporate tax rate. The centerpiece of this effort is the book minimum tax, a new alternative minimum tax applied to the financial

Is Friday BBB Vote Day?

TweetShareSharePin0 Shares Democratic leaders say tomorrow is the likely day for a BBB vote. The Build Back Better Act (BBB) may pass tomorrow, just in time for a week-long Thanksgiving recess. Some hold out hope for a vote as soon as today. Meanwhile, Sen. Joe Manchin says he is fine with a final vote on

How An $80,000 SALT Cap Stacks Up Against A Full Deduction For Those Making $400,000 Or Less

TweetShareSharePin0 Shares Congress seems to be considering two ways to address the Tax Cut and Job Act’s $10,000 cap on the state and local tax (SALT) deduction. The House version of President Biden’s Build Back Better (BBB) bill would raise the cap to $80,000. An alternative plan,  first proposed by the Institute on Taxation and

Comparing Income Tax Systems in Europe, 2021

TweetShareSharePin0 Shares Our recently published 2021 International Tax Competitiveness Index (ITCI) measures and compares how well OECD countries promote sustainable economic growth and investment through competitive and neutral tax systems. This week, we examine how European OECD countries rank on individual taxes, continuing our series on the ITCI’s component rankings. The ITCI’s individual tax component
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