President Obama’s International Tax Reform Proposals Regarding Offshore Accounts
7 May 2009
Mayer Brown Legal Update
On May 4, 2009, President Obama and Treasury Secretary Geithner unveiled two components of the Administration’s plan relating to US international tax reform. The first component relates to certain changes to the deferral of foreign earnings and the foreign tax credit rules. The second component generally relates to abusive uses of accounts located in tax havens.