Dorgan to impose a global minimum wage law in the U.S. He wrote the bill to eliminate the tax advantage for companies moving out of the country but the measure was defeated by 59-40. He stressed that the trade policy is the reason why some companies closed...
Within the new infrastructure bill being pushed, the Senate Finance Committee released the new version of a “GILTI Framework.” Janet Yellen expressed support for President Biden’s international tax policy proposals and reported that she is working with other G-20 nations to agree to a global ...
The Budget also includes a domestic minimum top-up tax that would preclude the imposition of UTPR by other countries. This top-up tax would equal the excess of (a) 15% of the financial reporting group's US profit (determined using the same rules as under the UTPR to determine the grou...
As of January 1, 2022, Spain has introduced a minimum CIT rate to (i) CIT taxpayers, including Spanish permanent establishments, whose net turnover is at least €20 million in the twelve-month period immediately preceding the CIT taxable period and (ii) taxpayers who are taxed under the spe...
The Biden administration is so eager to raise taxes on businesses that it is trying raise our existing global minimum tax while simultaneously imposing another, redundant global minimum tax. Both policies are misguided. Raising taxes on U.S. multinationa
How has a relatively minor tax bill — $14,729 to be exact — turned into one of the most important tax cases for the United States? The matter at hand is whether the United States federal government can tax unrealized gains as income in Moore v. United States (Docket 22–800)… «...
Many countries have a minimum threshold of order value that goods have to meet before taxes and duties apply – this is called a ‘de minimis’ level. In other words, if the value of the order is below this threshold, it can enter the country without the ...
This was suggested in an 18 March report produced by Jean Arthuis, former economy and finance minister and current president of the Commission for the Future of Public Finances, which was requested by Le Maire. A draft bill overhauling the law on the management of public finances drafted by ...
In its press release the OECD notes that the Commentary (to be published in early 2022) will address co-existence of Pillar Two and United States (US) Global Intangible Low-Taxed Income (GILTI) rules. Recent legislative developments in the US where the Build Back Better bill, among other th...
Enterprises and the UN Guiding Principles on Business and Human Rights, including the principles and rights set out in the eight fundamental conventions identified in the Declaration of the International Labour Organisation on Fundamental Principles and Rights at Work and the International Bill of Human...