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Biden Global Tax Plan Adds Complexity to Companies’ Tax Planning

April 1, 2021, 8:46 AM

President Joe Biden’s plan to revamp the 2017 tax law as part of an infrastructure effort is creating new uncertainty for U.S. multinationals.

The plan, aimed at helping pay for his $2.25 trillion infrastructure proposal released Wednesday, would toughen the rules on taxing U.S. companies’ profits outside the U.S., likely forcing them to pay more. But the proposal still has many details to be filled in, and it’s unclear if it will ultimately become law or be altered, and how it might intersect with related efforts by Congress and international authorities.

The Biden proposal would overhaul the rules on ...

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