Eversheds Sutherland Tax Reform Law Blog
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Treasury Green Book includes Pillar II undertaxed payments rule (UTPR), corporate tax increase rate

On March 28, the Biden Administration released the 2023 Fiscal Year Budget, followed by the release of the Treasury’s Green Book, which provides explanations of the Biden Administration’s revenue proposals. Among the proposals is the adoption of the OECD’s Pillar II undertaxed payments rule (UTPR) in lieu of the Base Erosion Anti-Abuse Tax (BEAT). The UTPR denies a deduction or...

Cohn Calls for Sub-23% Corporate Tax Rate

White House economic advisor Gary Cohn stated that the US must reduce the tax rate for corporations and pass-through entities below 23%.  He indicated such a rate is necessary to encourage domestic corporations to keep their profits in the US by competing with corporate tax rates offered by most member countries of the Organisation for Economic Co-operation and Development (OECD). ...