The law enacting US tax reform has been signed by President Trump.
On 22 December 2017, President Trump signed into law H.R. 1 (originally known as the Tax Cuts and Jobs Act) which enacts US tax reform. The new law represents the culmination of a lengthy pursuit of business tax reform over several decades. Its impact will have far reaching effect, including significant implications for all multinational businesses with activity in the US. Following its enactment, businesses are now grappling with modelling the tax impact and considering year end accounting and disclosure consequences. KPMG in both the US and UK have prepared various materials to help you understand the changes for your business, and we have a number of events planned for the start of 2018.
KPMG Global webcast
KPMG in the US will be hosting a webcast on 11 January 2018, covering key business aspects of US tax reform for the non-tax professional. Taking a ‘Tax Reform 101’ approach, the webcast will cover what’s in the new law, how the US economy may be affected, and how companies are planning to tackle the implementation of the new law. Please click here to register.
Here in the UK, we are planning a series of breakfast seminars at KPMG offices in London and across the UK. These will be hosted by Fred Gander (Head of the US Tax Desk in London) and Melissa Geiger (Head of International Tax in the UK), and will consider implications such as the longer term impact on supply chains and business models, likely winners and losers from the reform agenda, and specific considerations for UK groups. Details of these seminars and how to register will be published soon.
Listen back to our webinars for UK multinationals
On Wednesday 20 December we held the third in a series of webinars considering the impact for UK multinationals. You can now access the webinar recording and listen on demand using the link here and access the presentation slides here. You can also listen to the second webinar in our US Tax Reform series, held on 5 December, here and view the slides here. The first webinar, held on 14 November, can be listened to here and the slides can be viewed here.
Finding out more
For more information on the key impacts of the reform, please refer to our recent Tax Matters Digest article. You can also revisit the step by step progress of US tax reform on KPMG in the US’s dedicated site, which will continue to be updated with consideration of the specific provisions and analysis of the impact on business sectors.
If you have any questions about US tax reform and what it could mean for your business, please get in touch with your usual KPMG contact or with one of the named contacts below.
For further information please contact: