How does the tax system affect US competitiveness? Q.How does the tax system affect US competitiveness? A.The international tax policies that best encourage firms to invest in the United States are not necessarily the policies that best help US multinational companies compete with foreign-based multinationals. Policymakers face a trade-off among goals. Read more about How does the tax system affect US competitiveness?
What are the OECD Pillar 1 and Pillar 2 international taxation reforms? Q.What are the OECD Pillar 1 and Pillar 2 international taxation reforms? A.The Organization for Economic Cooperation and Development (OECD) and G-20 countries started the Base Erosion and Profit Shifting (BEPS) initiative in 2013 to combat aggressive tax avoidance by multinational corporations. Its Inclusive Framework now includes over 135 countries and jurisdictions working to implement different measures to limit tax avoidance, increase transparency, and create a more coherent international tax system. Read more about What are the OECD Pillar 1 and Pillar 2 international taxation reforms?
What is a tax shelter? Q.What is a tax shelter? A.Tax shelters are ways individuals and corporations reduce their tax liability. Shelters range from employer-sponsored 401(k) programs to overseas bank accounts. Read more about What is a tax shelter?