David Rosenbloom Talks to Tax Notes on OECD Pillar Two and BEPS

Senate Finance Committee Republicans are assailing Treasury for what they view as a lack of transparency and a U.S. surrender on pillar 2 negotiations that could cost American businesses greatly.

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But U.S. reforms motivated by the two-pillar project aren’t coming anytime soon, according to H. David Rosenbloom of Caplin & Drysdale, director of the international tax program at the New York University School of Law. Infighting on other tax issues, such as whether to raise the corporate income tax rate from 21 percent, and the fact that it’s an election year means it will be challenging for Congress to get anything done by the summer, he said. “So, thinking about U.S. participation in BEPS 2 is frankly not even on the front burner in Congress,” he said.

For the full article, please visit Tax Notes’ website (subscription required).