Tax Cuts and Jobs Act News
US tax reform - special focus
By: Josh White
The Tax Cuts and Jobs Act (TCJA) is the most eagerly-awaited tax bill in a generation, with implications for trillions of dollars worldwide. International Tax Review looks at the trends since tax reform came into force.
Profits Surge at Big U.S. Firms
America’s biggest companies are reporting some of the strongest earnings growth since the recession, boosted by lowered tax rates and a robust U.S. economy that is fueling demand across industries.
US Treasury outlines tax reforms over $3tn offshore cash pile
By: Sam Fleming (Financial Times)
The US Treasury has set out details of tax reforms to tackle $3tn worth of corporate earnings hoarded overseas, as it introduces a regime it hopes will boost investment in the country.
Latest News
Spanish digital services tax targets big tech companies
By ITR Correspondent
Spain’s digital services tax (DST) is slated to enter into force in January 2019, despite the criticism and concerns of multinational technology companies. Following the path of the European Commission, the Spanish government has recently filed a preliminary bill to create the DST, an indirect tax on digital services where there is an essential contribution by the users to the value creations are monetized by the companies. In accordance with the government’s forecast, the DST would collect $1.4 billion in FY2019.
UK Publishes Laws To Fight Avoidance, Impose Carbon Tax
The U.K.'s annual finance bill has set out, over 300 pages of laws, to implement global measures against tax avoidance and introduce a new environmental tax on carbon emissions.
Individual Taxpayer Relief Possible for Disparate GILTI Rules
Treasury hopes to assuage the disparate global intangible low-taxed income tax rules, which put individual U.S. shareholders of controlled foreign corporations at a disadvantage compared to corporate shareholders, but some challenges exist.
By Emily L. Foster
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