By Paul MaxwellUS corporate tax reform has been a key plank in the Republican platform for several years and has recently become a key focus of the Trump administration. It would also introduce a so-called border adjustment, which would disallow deductions for import purchases while exempting export profits from taxation. Treasury Secretary Steven Mnuchin says the Trump administration is working with House and Senate Republicans with the aim of passing major tax reform legislation before Congress leaves for its August recess. It’s too early to tell if real tax reform will be achieved by Congress during this administration. Nevertheless, the momentum behind tax reform is significant, and advanced planning and actions around these strategies before the stampede will be time well spent.

Source: Forbes February 23, 2017 21:21 UTC