NEW TERRITORY FOR US TAXES

摘要

Long overdue and 'once in a lifetime event' is how some have described US tax reform. The reality is different as policy makers struggle to reach agreement. Corporate and business tax reform are deemed to be easier than individual reform given general bipartisan agreement that the high US corporate tax rate is unsustainable for the 21st century global economy. In fact, the US corporate rate has long been eclipsed by those of most industrialised countries since the US last tackled tax reform in 1986.