President Trump has signed the Tax Cuts and Jobs Act into law. The law will lower business and individual tax rates, modernize US international tax rules, and provide the most significant overhaul of the US tax code in more than 30 years.
The law includes a broad range of tax reform proposals affecting businesses and individuals, including a new 20-percent deduction for certain pass-through business income. In addition, the Agreement repeals or modifies many current-law tax provisions to offset part of the cost of the proposed tax reforms. The Joint Committee on Taxation staff have estimated that the net revenue effect of the law will be to increase the on-budget federal deficit by $1.456 trillion over 10 years.
Thirty-one years in the making, tax reform in 2017 has gone from a legislative priority to law. 2018 will see many impacts from the law, and PWC will continue to break down the changes to keep you ahead of the curve.
As a result of the spotlight on recent US tax reforms, countries worldwide, including China, are reconsidering their tax systems in order to keep their competitiveness in the global marketplace. How will tax reform impact both US and China entities or individuals?
We are pleased to invite Ms. Nina Wang, Senior Manager of the Tax Department of PWC Dalian Branch, to give a presentation on US tax reform and to share her professional insights.Seminar outline:
Please RSVP before 4pm, Jan. 9. at:
- The US legislative process for tax reform
- US House and Senate bills: Key provisions
- Other business impacts and decisions
Maddalena Di Tommaso at email@example.com or wechat 18840955491
Melody Song at firstname.lastname@example.org or wechat 1270847611 or mobile 15242622051