4 ms·
They were doing that but I believe this is not something that makes sense any longer. The TCJA passed by the republicans got rid of the tax system that was cau
by javagram 7y ago
They were doing that but I believe this is not something that makes sense any longer.
The TCJA passed by the republicans got rid of the tax system that was causing the problem and switched the USA to a territorial income tax system like other countries have.
https://www.taxpolicycenter.org/taxvox/explaining-tcjas-international-reforms https://www.taxpolicycenter.org/taxvox/explaining-tcjas-inte...
> The TCJA’s international reforms are significant. Combined with the reduced corporate rate, they largely eliminate the incentive for US firms to accrue assets overseas, while seeking to protect the tax base from avoidance by both US and foreign-based multinationals.