The U.S. Congress has enacted the One Big Beautiful Bill Act (OBBB), formally renamed "An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14." President Donald Trump signed the legislation into law on...more
7/21/2025
/ Base Erosion and Anti-Abuse Tax (BEAT) ,
Controlled Foreign Corporations ,
Excise Tax ,
Foreign Derived Intangible Income (FDII) ,
Foreign Tax Credits ,
G7 ,
GILTI tax ,
International Remittance Transfers ,
International Tax Issues ,
Multinationals ,
Tax Cuts and Jobs Act ,
Tax Exemptions ,
Tax Incentives ,
Tax Legislation ,
Tax Reform
In an announcement that had been anticipated for the past few days and will be welcomed by many industry stakeholders, U.S. Treasury Secretary Scott Bessent said late on June 26, 2025, that he has asked leaders in the U.S....more
6/27/2025
/ Base Erosion and Anti-Abuse Tax (BEAT) ,
Foreign Investment ,
G7 ,
International Tax Issues ,
OECD ,
Proposed Legislation ,
Regulatory Reform ,
Secretary of the Treasury ,
Senate Finance Committee ,
Taxation ,
U.S. Treasury
On his first day in office, among the numerous Executive Orders (EO) released, President Donald Trump announced the America First Trade Policy EO designed to prioritize American interests in international trade and tax and,...more
1/31/2025
/ America First Trade Policy ,
Corporate Taxes ,
Executive Orders ,
International Tax Issues ,
International Trade ,
OECD ,
Section 301 ,
Tariffs ,
Tax Reform ,
Trump Administration ,
U.S. Treasury ,
US Trade Policies
This Holland & Knight alert discusses the intersection of President Joe Biden's proposed changes to the U.S. tax code, as announced in connection with his fiscal year (FY) 2023 budget, and work underway on the global stage...more
The United Kingdom and the U.S. Competent Authorities published on July 28, 2021, a Competent Authority Agreement (the Agreement) under the bilateral U.K.-U.S. Income Tax Treaty (the U.K. Treaty). It provides for purposes of...more
8/9/2021
/ EU ,
Foreign Equivalency Determination ,
International Tax Issues ,
IRS ,
Member State ,
NAFTA ,
Tax Treaty ,
U.S. Treasury ,
UK ,
UK Brexit ,
United States-Mexico-Canada Agreement (USMCA)
Addressing the tax challenges arising from the digitalization of the economy has been a top priority of the Base Erosion Profit Shifting (BEPS) project of the Organization for Economic Cooperation and Development (OECD)/G-20...more
A previous Holland & Knight alert provided an overview of corporate and individual income tax increases as detailed in the U.S. Department of the Treasury May 2021 "Green Book." (See "Biden Administration's FY 2022 Budget and...more
6/11/2021
/ Biden Administration ,
Controlled Foreign Corporations ,
Corporate Taxes ,
Foreign Tax ,
Foreign Tax Credits ,
GILTI tax ,
Green Book ,
International Tax Issues ,
Multinationals ,
OECD ,
Tax Cuts and Jobs Act ,
Tax Rates ,
Tax Reform ,
U.S. Treasury