Partly in an effort to boost the competitiveness of U.S. corporations and partly to induce those corporations to keep or return jobs to the U.S., President Obama proposed a reduction in the U.S. tax rate on corporate profits. Obama’s proposal reduces the standard corporate tax rate from 35% to 28% with a further reduction to 25% for corporations manufacturing in the U.S.» Read More
The United States government has moved to vigorously enforce the Foreign Corrupt Practices Act over the past several years and this has profound implications for companies working overseas.
The Foreign Corrupt Practices Act, 15 U.S.C. Section 788dd-1(a) (the “Act” or “FCPA”) prohibits “corrupt” offers of any kind of payment to a foreign official when the payment is for obtaining or retaining business. » Read More