Around the World: US Tax Reforms - Indian Perspective
07 March 2018
“Make America great again”- this catchphrase of Donald Trump for US elections promised tax reforms as a tool to overcome economic challenges. The goals of the tax plan were aimed at boosting employment of Americans, discouraging shifting of jobs overseas, encouraging repatriation of offshore profits to regain domestic economic momentum. It also sought to achieve simplification of tax code to ensure reduced tax outflow thereby leaving more money in pockets of the American taxpayer. Described as the biggest reform of all time, President Donald Trump signed into law the amendments to the US Tax Code in December 2017.