Congressional tax writers are largely expected to introduce draft tax legislation sometime next week, Goldman Sachs economists said in a note Thursday, Oct. 26, and the new rules could bring about change for foreign investment.
Some of the substantial changes tax reform is expected to bring forth are “a shift to a territorial tax system, a minimum tax on foreign corporate income, and a one-time tax on untaxed foreign earnings,” Goldman wrote. Tax writers should agree to about 25% corporate rate and about a 12% to 15% foreign tax minimum, levied on a global basis.