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Tax Reform - opportunity for multinationals

A carefully designed tax system can have a significant positive impact on a country’s economy. It can help ensure stable public finances, boost growth, employment and competitiveness, and contribute to a fair distribution of income.

There has been increasing global interest in tax reform both across the European Union and more recently within the US under the Trump administration as countries seek to ensure they receive their "fair" share of global taxes and tackle perceived "anti-avoidance".

The Organization for Economic Co-operation and Development’s Base Erosion and Profit Shifting (BEPS) initiative and the European Union’s Anti-Tax Avoidance Directive were undertaken to address mismatches in countries’ tax rules that were perceived to have allowed artificial shifts of income to low or no-tax jurisdictions. Some countries have adopted unilateral measures intended to address the concerns that animated the BEPS initiative while others have incorporated action items from the BEPS initiative.

The US recently enacted the most substantial overhaul of the US Internal Revenue Code since 1986. The US tax reform included both unilateral measures as well as measures consistent with BEPS action items.

In this environment, multinationals find themselves subject to an increasingly complex, ever-changing maze of international tax rules. Legacy corporate structures and the rationales that shaped them must be reexamined. The Eversheds Sutherland tax team is here to help you understand and navigate this maze.

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