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- Impact of US Tax Cuts and Jobs Act on Operations of Modern Tax Departments
Impact of US Tax Cuts and Jobs Act on Operations of Modern Tax DepartmentsThis is part two of a three-part series about the challenges and complexities of domestic and global regulatory tax changes, and how tax departments at multinational companies can get ahead of them.
The Tax Cuts and Jobs Act of 2017 drastically changed the United States tax code and had sweeping ramifications for both individuals and businesses. For an assortment of reasons, the law was written and passed quickly, without the deliberative process that lawmakers took for previous legislative changes to the code.
In the second paper of this series, we tackle what might be the most salient consequence of the legislation for multinationals. This legislation has materially changed how those businesses treat U.S. outbound tax calculations. It is tough to overstate the magnitude of those changes. They are simply unprecedented.
How will your tax department get ahead of the game?