<p>Biden Tax Plan Would Increase Profit Shifting, Report Says</p>

Biden Tax Plan Would Increase Profit Shifting, Report Says

Tax Foundation

The Biden administration’s proposed corporate tax changes would increase the tax liabilities for U.S. firms with controlled foreign corporations by $714 billion over 10 years and increase profit shifting due to higher taxes on domestic income, according to a report released April 28 by the Tax Foundation.

<p>The Biden administration’s proposed corporate tax changes would increase the tax liabilities for U.S. firms with controlled foreign corporations by $714 billion over 10 years and increase profit shifting due to higher taxes on domestic income, according to a report released April 28 by the Tax Foundation.</p>