Pillar Two Implementation in Europe, 2024
18 of the 27 EU Member States have implemented both the income inclusion rule and the qualified domestic minimum top-up tax in 2024.
4 min read
All Related Articles
Kamala Harris Tax Plan Ideas: Details and Analysis
On tax policy, Harris carries forward much of President Biden’s FY 2025 budget, including higher taxes aimed at businesses and high earners. She would also further expand the child tax credit (CTC) and various other tax credits and incentives while exempting tips from income tax.
17 min read
GILTI Tax Treatment by State, 2024
States that tax GILTI increase filing complexity, drive up the cost of tax compliance, and introduce unnecessary economic uncertainty and legal risk. 21 states and DC continue to tax GILTI despite these challenges.
6 min read
Supernormal Returns: An Overlooked Foundation of Tax Policy Debates
Supernormal profits are an important concept, but we should be wary of analysis that both defines supernormal profits very broadly and equates all supernormal profits with monopoly profits that can be easily taxed without negative economic effects.
23 min read
Results of a Survey Measuring Business Tax Compliance Costs
Lawmakers should consider compliance costs—not just tax liabilities—when evaluating reforms to business income taxation.
22 min read
Gov. Tim Walz Raised Taxes as Most Governors Cut Them
Gov. Walz’s tax policy record is notable because of how much it contrasts with broader national trends. In recent years, most governors have championed tax cuts. Walz, rare among his peers, chose tax increases.
5 min read
The Latest on the Global Tax Agreement
The agreement represents a major change for tax competition, and many countries will be rethinking their tax policies for multinationals.
8 min read
Puerto Rican Competitiveness and Pillar Two
Puerto Rico, a US territory with a limited ability to set its own tax policies, will be the first part of the US to be substantially affected by Pillar Two, the global tax agreement that seeks to establish a 15 percent minimum tax rate on corporate income.
17 min read
Why We’re Closely Watching Moore v. U.S.
The Moore case could have important impacts on tax policy.
5 min read
The Impact of BEPS 1.0
The global landscape of international corporate taxation is undergoing significant transformations as jurisdictions grapple with the difficulty of defining and apportioning corporate income for the purposes of tax.
22 min read
Vermont Tax Proposals Would Leave the State and Vermonters Behind
With proposals to adopt the nation’s highest corporate income tax, second-highest individual income tax, and most aggressive treatment of foreign earnings, as well as to implement an unusually high tax on property transfers, Vermont lawmakers have no shortage of options for raising taxes dramatically.
7 min read
Tax Foundation Discussion on the Harms of Retaliatory Tax and Trade Policies
Historical evidence and recent studies have shown that retaliatory tax and trade proposals raise prices and reduce the quantity of goods and services available to U.S. businesses and consumers, resulting in lower incomes, reduced employment, and lower economic output.
5 min read
The Impact of GILTI, FDII, and BEAT
The Tax Cuts and Jobs Act of 2017 (TCJA) reformed the U.S. system for taxing international corporate income. Understanding the impact of TCJA’s international provisions thus far can help lawmakers consider how to approach international tax policy in the coming years.
30 min read
Details and Analysis of Making the 2017 Tax Reforms Permanent
Lawmakers will have to weigh the economic, revenue, and distributional trade-offs of extending or making permanent the various provisions of the TCJA as they decide how to approach the upcoming expirations. A commitment to growth, opportunity, and fiscal responsibility should guide the approach.
18 min read
New Study Finds TCJA Strongly Boosted Corporate Investment
The 2017 Tax Cuts and Jobs Act (TCJA) was the largest corporate tax reform in a generation, lowering the corporate tax rate from 35 percent to 21 percent, temporarily allowing full expensing for short-lived assets (referred to as bonus depreciation), and overhauling the international tax code.
6 min read
Changing Tax Policy Landscape Will Worsen U.S. Competitiveness
Policymakers on Capitol Hill should prioritize permanent pro-growth policy in the coming years as the economy struggles with inflation and the recovery from the pandemic.
4 min read
Anti-Avoidance Policies in a Pillar Two World
The global minimum tax agreement known as Pillar Two is intended to curb profit shifting. However, OECD countries already have a variety of mechanisms in place that seek to prevent base erosion and profit shifting by multinational corporations.
40 min read
It Pays to Keep It Simple
Simplicity in the tax code means taxes should be easy for taxpayers to pay and easy for governments to administer and collect.
How the U.S. Can Piece Together a Solution for Pillar Two
Congress should recognize that Pillar Two has significant U.S.-specific downsides, but also that it cannot unilaterally stop Pillar Two from taking effect. Instead, it should carefully consider a policy response for the next Congress, when a variety of forces are likely to compel it to act.
7 min read
How the Moore Supreme Court Case Could Reshape Taxation of Unrealized Income
A major case pending before the U.S. Supreme Court (Moore v. United States) is calling into question provisions on large portions of the U.S. tax base which could quickly become legally uncertain, putting significant revenue at stake.
7 min read