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On September 27, 2017, the administration of U.S. President Donald Trump issued its framework for new tax legislation the Republican party hope to pass this year. The goals stated therein are to:
Items addressed include:
Unfortunately, specific details on many of the items listed in the document are still sparse and it is expected the Republicans will face large hurdles in working to get these items passed.
On a practical note, the implementation of any of these corporate items could significantly alter the way Canadians do business in the U.S. MNP continues to monitor the development of the framework and will provide updates as it unfolds.
For more information, contact Todd Jenkins, Partner, Tax Services, at 204.336.6175 or [email protected].
Related Topics:U.S. Tax
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