The US Senate pushed through a raft of changes to the corporate tax code last month, the most notable being the reduction of the corporate tax rate from 35% to 21%.
However, a series of exceptions and caveats makes the reforms more complex than they seem at first glance.
The possible benefits of the tax changes seem focused on the US government’s goal to bring jobs back to the US. Although the reforms are forecast to cost the $1.3 trillion during the next decade, the hope is that economic growth will compensate for this.
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