When the Kansas City and Los Angeles squads face off in São Paulo, the players will owe Brazil’s nonresident income tax on the share of income they earned there, while California will lose out on the nonresident income taxes that Chiefs players ordinarily would have remitted in what is nominally a Chargers home game.
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Expanding and updating the US tax treaty network—both by forging new agreements and modernizing existing ones—is vital to maintaining the country’s competitiveness in a rapidly evolving global tax landscape.
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The worldwide average statutory corporate tax rate has consistently decreased since 1980 but has leveled off in recent years. In the US, the 2017 Tax Cuts and Jobs Act brought the country’s statutory corporate income tax rate from the fourth highest in the world closer to the middle of the distribution.
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The Brazilian government is poised to make the biggest change to its alcohol tax policy in recent history.
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The National Foreign Trade Council’s survey shows that the private sector recognizes the economic value of treaties as an instrument to increase tax certainty and decrease distortions.
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Taxes on goods and services were on average the greatest source of tax revenue for Latin American and Caribbean countries
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The UN tax committee will be considering a change to the UN’s model tax treaty that, if adopted and implemented, could result in digital companies paying more taxes in countries where their customers are located even if those companies do not have physical locations there.
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Brazil has one of the world’s most complex tax systems. Brazil has the opportunity to implement a simple consumption tax and foster tax progressivity at the same time.
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The U.S. Trade Representative (USTR) expanded its digital service tax investigations, announcing Section 301 investigations into digital tax policies in nine countries and the European Union. The announcement follows an investigation of the French digital services tax that was completed in 2019, after which the USTR threatened significant #tariffs in retaliation against France.
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Other countries have shown that providing deductions in line with invested capital costs can have positive impacts both on investment and on debt bias.
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