U.S. international tax policy is more important than ever. Today’s modern economy is made up of businesses that employ workers in countries across the globe, supply chains that cross many borders, and companies with both domestic and international operations.
In 2017, the U.S. made significant changes to its international tax system, joining many other developed nations in moving towards a “territorial” system and implementing, among other things:
- A reduced tax rate for domestic income from intangibles earned from foreign sources (Foreign Derived Intangible Income, or FDII)
- A minimum tax on foreign income (Global Intangible Low Tax Income, or GILTI)
- A tax on cross-border expenses (Base Erosion and Anti-abuse Tax, or BEAT)
Although many of these new rules are complicated and their impacts have yet to fully play out, President Biden during the 2020 campaign and Senate Democrats have identified further changes, including doubling the tax rate on GILTI.
Join us on Thursday, February 18th at noon ET for a timely virtual discussion to learn more about the reforms enacted in 2017, the economic effects of those changes—including impacts on inversions, foreign direct investment, and competitiveness—and how changes proposed by President Biden and Congress could impact those measures and U.S. companies operating abroad.
Tax Foundation President Scott Hodge will moderate the panel, which will feature:
- Daniel Bunn, Vice President of Global Projects, Tax Foundation
- John Stowell, Senior Vice President, Corporate Tax, The Walt Disney Company
- Loren Ponds, Member, Miller & Chevalier Chartered
- Scott Dyreng, Professor of Accounting, Duke University