U.S. International Tax Reform Survey
On October 26, 2011, Chairman of the U.S. House of Representatives Committee on Ways and Means Dave Camp (R-Mich.) released a discussion draft for revenue-neutral corporate tax reform that would lower the U.S. statutory corporate rate to 25 percent and adopt a territorial tax system. Specifically, the discussion draft proposes a 95-percent dividends received deduction for eligible foreign-source dividends. Chairman Camp has invited stakeholders to analyze the discussion draft (a summary of the draft can be found here
) and provide the Ways and Means Committee with constructive feedback to help them perfect the proposal. For additional insights into the draft click here
On February 22, 2012, Treasury Secretary Tim Geithner released the President’s Framework for Business Tax Reform. It called for lowering the statutory corporate tax rate to 28 percent and proposed anti-deferral provisions, including a new minimum tax on foreign earnings. For additional insights into the President’s framework click here
The Committee on Taxation (COT), in collaboration with FERF, has developed a survey of financial executives that evaluates the potential behavioral changes of U.S. multinational companies if aspects of Chairman Camp’s discussion draft or the President’s framework were to be enacted. This survey, and subsequent research report, aims to educate and engage financial executives in the tax reform debate because of the possible impact it could have on their companies.
The final research report will be made available to policymakers as they consider how to proceed with and perfect their proposals and should be used by financial executives in their business planning by highlighting opportunities and areas of concern under current corporate tax reform proposals.
Posted: 4/24/2012 9:33:18 AM
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