One of the Trump administration’s major accomplishments was corporate tax reform. U.S. presidential candidate Joe Biden proposes raising the corporate tax rate by 7 percentage points to 28%. If former Vice President Biden is elected and his corporate tax plan is enacted, the S&P 500’s current earnings estimates could see a roughly negative 10.6% impact. Exhibit 1: S&P 500 Y/Y CapEx vs. Effective Tax Rate Note: Based on current constituents and weights The Tax Cuts and Jobs Act of 2017 (TCJA) cut the U.S. corporate tax rate from 35% to 21%. One of the goals of this tax cut was

NEW YORK (Reuters) – U.S. states could reap billions in online sales tax revenue and buttress their budgets after the nation’s top court ruled on Thursday that e-commerce companies could be forced to collect the money, even if they have no physical presence in a state. The Supreme Court’s ruling in favor of South Dakota and against Wayfair Inc and two other online retailers was a victory for state governments, and a boost for brick-and-mortar stores. The effect is expected to be positive and widespread because 45 states impose sales taxes and until now were barred from requiring those companies

Was the EU right to order the Irish government to collect EUR13bn in back taxes from Apple after the European Commission ruled that the Irish government had previously provided preferential fiscal treatment to the tech giant in breach of EU regulations? This has been a hot topic of debate both in the mainstream and social media (under the hashtag used in the title) over the past few days. Clearly for a great many people around the globe, fed up with what they see as the ability of large supra-national companies to engage in tax regulation arbitrage, the EU’s decision was