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U.S. Cross-border Tax Reform and the Cautionary Tale of GILTI Daniel Bunn Key Findings The U.S. joined many other developed nations in adopting territorial provisions and anti-base erosion rules as part of the 2017 tax reform. One major piece of that reform, that is not typical in other territorial systems, is a new definition of currently taxable foreign earnings, Global Intangible Low Tax Income (GILTI), which is taxed at an effective rate of 13.125 percent, with the rate set to increase after 2025 to 16.4 percent. Recent research has shown that foreign earnings of U.S. companies remain tax...

The Biden administration is closely following developments in Brazil with regard to human rights and climate, but intends to continue strengthening U.S. economic ties and trade with the South American country, White House press secretary Jen Psaki said on Monday.

USA-TRADE/BRAZIL (UPDATE 1, PIX):UPDATE 1-White House says it aims to strengthen ties with Brazil, but will speak out on concerns

Full article The administration of Biden on Feb. 5 had announced an additional US$ 300,000 in funding from the U.S. Agency for International Development to bolster Brazil’s emergency COVID-19 response Ambassador Nestor Forster, welcomed Psaki’s comments and said Brazil was “fully on board” to address sustainable development and climate change concerns The president Joe Biden administration aims to keep strengthening US economic ties and trade with Brazil, White House press secretary Jen Psaki said on Monda...

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