Pat Brown shares his insights on the FY22 budget and the accompanying Green Book as well as what to expect next. Learn more at www.pwc.com/us/policyondemand.

Speaker:

• Pat Brown, Washington National Tax Services Co-Leader, PwC US

Chip Harter shares his insights on the proposed 15% global minimum tax and awaits the release of Treasury’s Green Book for details on the Biden Administration's tax proposals. He also answers the question that he was asked most this week: How much higher could the GILTI rate be compared to the global minimum rate? Learn more at www.pwc.com/us/policyondemand

Speaker:

• Chip Harter, Senior Policy Advisor in PwC's Washington National Tax Services Practice, PwC US

On this episode, Janice Mays explains the purpose of Treasury's Green Book, how it is used, and what companies should be focused on.

Speaker:

• Janice Mays, Managing Director, Tax Policy Services, PwC US

The December 2020 final foreign tax credit regulations introduced a stock-based asset apportionment methodology for all taxpayers. But given the timing of these final regulations, many taxpayers were forced to estimate their stewardship for provision purposes using the asset apportionment methodology used for interest expense. Since many taxpayers are past provision season, now is the time to consider how, under the new regulations, you can lower stewardship expenses, which may in turn improve your ETR, your foreign tax credit position and your foreign-derived intangible income (FDII) outcome.

On this podcast, our international tax and transfer pricing specialists discuss:

• An overview of stewardship expense
• The December 2020 final foreign tax credit regulations and their approach to the treatment of stewardship
• Entities to which stewardship applies  
• The default/residual method and the direct allocation method
• Measuring US stock basis and characterizing the stock
• The seven-step approach to calculating stewardship expense

The replay of the Tax Readiness: International tax planning post-election webcast is available here.

Speakers: 

• Elizabeth Nelson, International Tax Services Partner
• Andrea Greene, International Tax Services Partner
• Mike Urse, International Tax Services Partner
• Peter Lee, Transfer Pricing Partner

In this Concept Series episode, Pat Brown covers all things GILTI: what does it stand for, what is its purpose, how does it work, and what does its future look like?

Speaker: 

• Pat Brown, Washington National Tax Services Co-Leader, PwC US

Mark Prater shares why it is important to keep an eye on the bipartisan infrastructure discussions and what the key players are saying. He also answers the question that he was asked most this week: How real are the negotiations between the White House and Senate moderates?

Speakers: 

• Mark Prater, Managing Director, Tax Policy Services, PwC US

Scott McCandless and Janice Mays, senior members of PwC’s Tax Policy Services team, join John Livingstone, PwC’s Global Industrial Products Tax Leader, to discuss the potential implications of the Biden Administration’s tax policy agenda to industrial manufacturers. This podcast covers President Biden’s current tax proposals, how Congress might proceed around TCJA provisions scheduled to take effect at the beginning of 2022, tax proposals related to advancing clean energy initiatives, and increased funding for the IRS with a corresponding increase in tax audits and enforcement.

Speakers:

• Scott McCandless - Partner, Tax Policy Services, PwC US
• Janice Mays - Managing Director, Tax Policy Services, PwC US
• John Livingstone - Global Industrial Manufacturing & Automotive Tax Leader, PwC US

Janice Mays shares her takeaways from this week, including that the FY22 budget will be released the last week in May. She also answers the question that she was asked most this week: Is it worth meeting with Democrats in Congress even if there is no existing relationship? Hint: the answer is yes. Learn more about PwC's Policy on Demand at https://www.pwc.com/us/policyondemand.

Speaker:

• Janice Mays, Managing Director, Tax Policy Services, PwC US

In this episode we discuss that multinationals should expect significant changes in the tax environment from both US and non-US governments and organizations like the EU and the OECD. Additionally, a likely increase in the corporate tax rate would have major impacts on the GILTI and FDII rates and calculations. This, combined with global tax measures mean that multinationals must consider their global tax structure. These next six months are crucial for data-driven analysis and planning in order to understand options and react.

The replay of the Tax Readiness: International tax planning post-election webcast is available here.

Speakers: 

• Julie Allen, Washington National Tax Services Market Leader 
• Doug McHoney, International Tax Services Co-Leader 
• Nita Asher, US Transfer Pricing Leader 
• Paige Hill, a Principal in PwC’s International Tax Services practice

We are entering a quiet period on the Hill following the release of several proposals and Scott McCandless shares why now is the time for companies to act. He also notes what the business community is most concerned about... timing. Learn more about PwC's Policy on Demand at https://www.pwc.com/us/policyondemand.

Speakers

• Scott McCandless, Principal, Tax Policy Services, PwC US