Analysis

Federal Coffers Vulnerable Under Global Minimum Tax Plan

Law360, New York (October 23, 2017, 1:34 PM EDT) -- A single word contained in a proposal to protect the U.S. tax base, under a Republican plan to exempt American companies' overseas profits from taxation, could actually encourage companies to move profits offshore and engage in aggressive tax planning strategies.

The framework to revamp the tax code that was released last month by the Trump administration and Republican leaders proposes a territorial tax system, under which a 100 percent tax exemption would be granted for dividends from foreign subsidiaries of American corporations.

Such a shift from the present worldwide system, under which U.S. corporations are required to pay taxes on all...

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