In this edition: 2017 tax reform, important new requirements for
Luxembourg finance company tax rulings and ATO hubs practical
compliance guide
2017 Tax Reform - Transfer Pricing Opportunities?
Corporate tax reform sits near the top of the agenda for both
the Trump administration and the Republican controlled House of
Representatives. Areas where both parties agree include:
- Tax Rate Reduction;
- Repeal of Corporate AMT, and;
- Tax Breaks for Repatriation of
Foreign Earnings.
Border Adjustments is another area for potential reform that
both Congress and the President have spoken to. Potentially a
fundamental shift in the U.S. corporate tax system, Border
Adjustments would have the effect of converting the U.S. system of
taxing worldwide income to a territorial tax system. Congress has a
border adjustment tax explicitly within the House Republican
blueprint, while president Trump has said that Border Adjustments
are "still on the plate" without endorsing
