Republicans To Discuss Corporate Tax Avoidance

Republicans To Discuss Corporate Tax Avoidance

Reuters has reported that President Donald Trump and Republican leaders in Congress will soon confront a complex challenge for tax reform: how to limit U.S. corporate tax avoidance schemes that take advantage of low tax rates in foreign countries .Congressional and administration staff have begun to examine options to address profit-shifting schemes that include so-called transfer pricing, earnings stripping and tax inversions. Officials and lobbyists said that a decision on how to handle these in tax legislation could come before Congress leaves town for its one-week July 4th recess on June 29th.
Lawmakers say the current tax code incentivizes profit shifting overseas because of the high 35 percent U.S. corporate income tax rate and rules that allow companies to hold profits abroad tax free until returned to U.S. soil.


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