Toronto tax expert David Rotfleisch was recently featured in an article on canadian-accountant.com. In this article, he shares information on some media inaccuracies about the G7 two-pillar framework.
“If a U.S. corporation owns a company in Israel that only pays a 10 percent corporate tax, the U.S. corporation would be required to pay the five percent tax difference in the U.S. for its Israeli subsidiary, thus rendering the lower tax rate ineffective.”
Check out the full article here.
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."