In this episode, we discuss some of the more complicated international provisions of President Biden’s Made in American Tax plan, which could change the taxation of U.S. multinationals. The U.S. tax code currently allows U.S. multinationals to avoid or reduce the U.S. tax on some of their foreign earnings. Two of the guiding principles of the Made in American Tax Plan are reducing profit shifting by eliminating incentives for U.S. multinationals to offshore investment and ending the global race to the bottom. We discuss how President Biden proposes to achieve those goals.
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