Treasury Secretary Janet Yellen is urging Congress to consider an international plan as it writes new tax laws. Recently, 134 countries and jurisdictions (including the U.S.) have signed on to the Organization for Economic Cooperation and Development plan for reforming international tax rules. It provides countries with a fairer distribution of profits and taxing rights over multinational enterprises (MNEs), including digital companies. It would re-allocate some taxing rights over MNEs from their home countries to markets where they do business and earn profits, regardless of whether they have a physical presence there. The plan would also introduce a global minimum corporate tax rate. Call or visit our website for more information! www.mjscpa.com/
