United States: release of framework for tax reform

3 October 2017

On 27 September 2017, the Trump Administration and Congressional Republican leaders released a nine-page “Unified Framework for Fixing Our Broken Tax Code” (the “Framework”). The Framework statement is the latest product of tax reform discussions and calls for a 20% corporate tax rate, a new 25% rate for certain pass-through business income, and international reforms that include a territorial tax system and a one-time mandatory repatriation tax.

The Framework calls for the House and Senate tax committees to provide specific details of tax reform legislation and resolve many open issues, including effective dates for the proposals. Administration officials and Republican Congressional leaders say their goal is to enact tax reform in 2017.

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Contacts

Stefan Schmid
Partner
Corporate Tax Switzerland
Tel. +41 58 792 4482
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Monica Cohen-Dumani
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Corporate Tax Switzerland
Tel. +41 58 792 9718
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Michael Ruckstuhl
Director
Corporate Tax Switzerland
Tel. +41 58 792 1494
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Published by

Stefan Schmid

Stefan Schmid
Partner, Tax & Legal Services
PwC
Birchstrasse 160
Postfach, 8050 Zürich
Tel. +41 58 792 44 82

Stefan Schmid is a corporate tax partner assisting companies in international tax matters, with a special focus on US, Asian and Swiss quoted groups. He graduated at the University of St. Gallen in Business Administration (lic.oec. HSG).

He has over 20 years of experience in assisting multinational groups in their international tax affairs. He further gained extensive experience in assisting groups that operate centralised business models.