International tax year-end considerations

Legislative changes and other tax concerns that may affect international tax planning

Oct 15, 2023

Key takeaways

Periodically review international tax calculations to reduce exposure and identify opportunity.

Keeping up to date with ever-changing international tax law is vital for success.

Ensure transfer pricing, VAT, and global information reporting and withholding policies and procedures are in place.

Transfer pricing
Business tax Global tax reporting Pillar two International tax

More than five years have passed since the Tax Cuts and Jobs Act of 2017 (TCJA) brought sweeping changes to the U.S. international tax landscape. Congress continues to balance taxpayer demands for long-overdue guidance on TCJA provisions with the need to address the imminent Pillar Two initiative. Moreover, taxpayers continue to litigate Congress’ authority in the courts.

While the fiscal environment remains unclear, taxpayers should prepare for an increase in their global effective tax rate and tighter reporting standards over the next couple of years. Less cash on hand and higher interest rates may inspire taxpayers to revisit basic international tax concepts to reduce their tax burden and increase their internal cash flow. Planning is therefore key.

RSM has created this year-end international tax planning guide with numerous items for your consideration.

RSM contributors

  • Ramon Camacho
  • Aureon Herron-Hinds
    Aureon Herron-Hinds
    National Leader, FATCA and Global Information Reporting
  • Tansy Jefferies
  • Ayana Martinez

Featred webcast

Year-end planning forum

Part of the Tax in Motion 2023 Series, join us for three sessions. Let us help you consider your tax positions as the year comes to a close.