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Started By
Message
re: Biden admin to call for worldwide tax hike
Posted on 4/6/21 at 9:44 am to trinidadtiger
Posted on 4/6/21 at 9:44 am to trinidadtiger
quote:
That is great in theory, but there is a trillion dollar industry that says otherwise. We will just have to agree to disagree on this subject.
What do you disagree on? That we no longer base US taxation on repatriation? You are either paying US tax on that foreign income via GILTI or it goes untaxed via the 245A deduction. In either case, there's no avoiding tax just because you didn't repatriate.
There's no "theory" to it. This
quote:
If it ever comes back it is taxed at US rates
Is just not an accurate statement.
This post was edited on 4/6/21 at 9:48 am
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