The US Tax Cuts and Jobs Act of 2017 (2017 Act), generally effective for tax years beginning after 31 December 2017, enacted sweeping reforms to the system of US federal income taxation of cross-border investments. The focus of the reforms on cross-border taxation is, generally, on outbound investments by USheadquartered multinational companies and moves from a worldwide system of taxation to a territorial system.
US Tax Reforms: Impact on Cross-border Investments
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