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Taxsutra & KNAV Present Panel Discussion on “Biden Tax Plan” - April 23

Taxsutra is delighted to present to you a special panel discussion on “Biden Tax Plan” in association with KNAV. The esteemed panelists, Mr. Shishir Lagu (Partner, US Tax), Ms. Simone Alting (Associate Partner, US Tax), and Mr. Kavit Sanghvi (Practice Director, US Tax) from KNAV, shall discuss the key corporate tax proposals and repercussions thereof for US inbound and outbound corporations. Furthermore, to give an industry perspective on this matter, Mr. Mayank Manot (Associate Vice President – International Tax at Infosys Limited) shall also join the panel. The panel will be moderated by Mr. Uday Ved (Partner, KNAV) and Taxsutra’s Group Editor, Mr. Arun Anandagiri.

Some of the key corporate tax proposals are:

  • Raising the corporate income tax rate to 28 percent,
  • Reducing incentives for foreign jurisdictions to maintain ultra-low corporate tax rates by encouraging global adoption of robust minimum taxes;
  • Replacing BEAT with SHIELD” (Stopping Harmful Inversions and Ending Low-tax Developments) leading to disallowance of expenses paid to related parties in low effective tax rate jurisdictions;
  • Major overhaul of the existing GILTI provisions
  • Repeal FDII and use the funds to incentivize R&D in the United States directly and effectively
  • Enacting a 15 percent “minimum tax” on book income of large companies.

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