Emerging International Tax Developments: Fall 2022 Updates

Event Description 

After months of political negotiations, the Biden Administration signed the Inflation Reduction Act into law in August.  Despite the major victory, the new legislation still falls short of the Build Back Better aspirations  and leaves out key international provisions needed to align the U.S. system with the Organisation for Economic Cooperation and Development's (OECD) Pillar 2 global minimum tax.  Instead, the recent reconciliation tax bill includes a new 15% minimum tax on financial statement income for certain large corporations.  Following on the heels of the Administration's recent reconciliation tax bill, lawmakers are pushing to finish any lingering priorities prior to midterms in November.  Could we potentially see enactment of significant tax legislation before year-end?  Please join our international tax team, as we share insights on recent developments in the United States and various other topics relevant to multinational organizations. In addition, we will highlight a new segment of "Around the World" which will feature a few of our global colleagues and quick updates related to tax developments in their jurisdictions.