Tax Increase in the United States

Tax Increase Prevention Act of 2014 and Tax Law

There are more details about Tax Increase Prevention Act of 2014 in the tax compilation of the legal Encyclopedia.

Tax Increase in U.S. multinational corporations

The United States multinational corporation are subject to changing and increase tax laws both within and outside of the U.S. U.S. multinational corporations cannot predict the form or timing of potential legislative changes or increases, but any newly enacted tax law could have a material adverse impact on their tax expenses. In the international context, several jurisdictions have sought to increase revenues by imposing new taxes on internet advertising or increasing general business taxes. In addition, the Organization for Economic Co-operation and Development (“OECD”), which represents a coalition of member countries, is supporting changes to numerous long-standing tax principles through its base erosion and profit shifting (BEPS) project, which is focused on a number of issues, including the shifting of profits between affiliated entities in different tax jurisdictions. To the extent any of these proposals are enacted into legislation by OECD member countries, or if other international, consensus-based tax policies and principles are amended or implemented, they could adversely affect (increase) the amount of tax the U.S. multinational corporations pay.