GILTI | Sestini & Co | Tax and business consultancy

Home »

Increased tax likely for US companies and wealthiest individuals

Submitted by Sestini & Co | on Tue, 11/30/2021 - 9:01 | In international tax, non-dom

The 2022 Budget and Tax bill in the USA, aka the Build Back Better Act, calls for nearly $2 trillion in tax increases on corporations and the “super rich”, although Biden has vowed not to raise direct taxes on people earning $400,000 or less.

As well as tax proposals, it includes provision for substantive sums to fight climate change, universal preschool, child tax credits, 4 weeks of paid leave, healthcare spending, affordable home care, and affordable housing.

The Bill also includes suspension [- -]

Tags: GILTI, IRS, Tax, USA