Application of Knowledge
- Predict what you believe will be the most significant changes in international taxation you will likely see in the next few years. Explain your reasoning.
- Explain which part(s) of international taxation can be useful to you in the future. Provide specific examples to support your response.
Please keep bullet points and solutions together and make solutions at least a paragraph or two long.
Currently, there are many loopholes in foreign tax credit. The idea behind the foreign tax credit was to be made available only for those taxes that are paid on income that is taxable in the US. However, the system has been often abused and loopholes have been used to benefit some individuals and organizations. This is likely to change..