Treasury Department Archive
Global minimum corporate tax: questions grow over OECD commitment to ‘inclusive’ reforms
July 5, 2021
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TweetShareSharePin0 Shares Whilst discussion and agreement on a global corporate minimum tax is historic, we consider it our job to challenge organisations like the OECD and to always push for better. We are sharing below our short statement on the OECD Inclusive Framework, supposed to be a space for all nations to contribute to developing
The Tax Justice Network’s French podcast: Le digital peut être au service de la Justice fiscale, mais des défis demeurent, Edition 29
July 5, 2021
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TweetShareSharePin0 Shares Pour cette 29ème édition du podcast francophone édition de votre podcast en français Impôts et Justice Sociale avec Idriss Linge, nous revenons sur la fiscalité minimum des multinationales en rapport aux services du digital. 130 pays dans le monde ont finalement trouvé un accord pour un seuil minimum d’imposition de grandes entreprises, mais de nombreux
What does Brexit mean for tax havens and the City of London?
July 2, 2021
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TweetShareSharePin0 Shares By Nicholas Shaxson It is Mansion House time again. Every year Britain’s Chancellor (finance minister) makes a speech at Mansion House, a spiritual home of Britain’s financial sector and the official residence of the Lord Mayor of London, where he (the Chancellor is always a ‘he’) declares his love and support for the
Big Deficit, Big Backing | Tax Policy Center
July 2, 2021
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TweetShareSharePin0 Shares CBO: Federal deficit will reach $3 trillion in 2021. Largely because of its response to the coronavirus pandemic, the federal government will spend $6.8 trillion in 2021 and collect $3.8 trillion in revenue. The $3 trillion deficit will be slightly less than last year since US is likely to collect more revenue as
What’s in Arizona’s Tax Reform Package?
July 1, 2021
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TweetShareSharePin0 Shares After weeks of deliberations, Arizona Gov. Doug Ducey (R) this week signed into law a budget for fiscal year (FY) 2022 that reduces the state’s individual income tax rates and consolidates brackets, a plan that will help restore Arizona’s reputation as a low-tax alternative to California. The enacted law kept the basic framework
What’s in the New Global Tax Agreement?
July 1, 2021
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TweetShareSharePin0 Shares In recent years, countries have been debating significant changes to international tax rules that apply to multinational companies. This week there was a breakthrough in discussions, and an outline for the new rules was released by the Organisation for Economic Co-operation and Development (OECD). If today’s global tax agreement is fully implemented, large
How to stop #LuxLetters and the abuse of tax rulings
July 1, 2021
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TweetShareSharePin0 Shares Written by Leyla Ates, Andres Knobel, and Markus Meinzer. One of the most powerful tactics a multinational corporation can use to abuse tax is to secure a tax ruling in one country that gives the corporation written permission to exercise an abusive interpretation of the country’s tax law in a way that ultimately
Michigan Corporate Income Tax Proposal Would Improve Competitiveness
July 1, 2021
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TweetShareSharePin0 Shares Michigan lawmakers are considering lowering the corporate income tax rate to alleviate the tax burden on businesses still emerging from the pandemic and to make the state more competitive. Senate Bill 392 would retroactively reduce the state’s corporate income tax rate from 6 percent to 5.5 in tax year 2021, and then lower
State & Local Tax Structure Has a Critical Impact
July 1, 2021
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TweetShareSharePin0 Shares While high top tax rates may provide “sticker shock” for corporations looking for a state to call home, they are just one of several important drivers of businesses’ tax burdens and tax compliance costs. The tax base, and more broadly, the structure of the tax code, play a large role in business taxes
Proposals to Fix Upcoming Federal Tax Changes
July 1, 2021
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TweetShareSharePin0 Shares Three upcoming tax law changes scheduled by the 2017 Tax Cuts and Jobs Act (TCJA) to help offset its revenue losses would be canceled by proposed legislation that would prevent the tax treatment of investment from worsening over the coming years. Three Upcoming Tax Increases on Investment Policy Timing Requirement to amortize R&D
