July 15, 2021

Déjà Vu All Over Again – Bracing for Another Round of US and Global Tax Reform

On July 9 and 10, the G20 will meet to consider the landmark agreement by the G7 to re-scope and advance Pillar One and Pillar Two. The G7 agreement dovetails with proposed changes by the Biden administration to the US international tax rules—including replacing BEAT with SHIELD, modifying the GILTI rules, expanding the anti-inversion rules and further limiting interest expense deductibility—all in the context of raising the corporate income tax rate. While it’s only been a few years since the TCJA was enacted, the world of international tax may change significantly once again. 

Join us on July 15 for a timely webinar as we discuss the outcome of the G20 meetings and the interaction with the Biden proposals. We’ll also provide our predictions on whether—and, if so, when—to expect actual legislation or agreement among the OECD countries and suggestions for how multinationals can prepare for another round of changes to the global tax landscape.

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