FXWire Pro Headline | February 22 2012 12:13 EST
Obama administration intends to cut tax rate to 28 pct from 35 pct
News
- Obama administration proposed overhauling the U.S. corporate tax code by slashing
the top rate to 28 pct from 35 pct. - The new plan would reduce the deductibility of interest for corporations to try to reduce a bias in the tax code that favors debt financing,
- The Obamatax rules will also require companies to pay a minimum tax on overseas profits in low-tax countries, while giving cos 20 pct tax credit to move operations back to US