US President Donald Trump has signed the Tax Cuts and Jobs Act into law, initiating the most “sweeping overhaul” of the US tax system in more than three decades. While, as Indian IT, we appreciate the ethos behind “buy American make American”, we can’t remain indifferent to the concerns around globalisation (“globalism”?) at times, seemingly threatened to be swept away in the rigmarole.
The Act in its present structure will set corporate taxes at 21 per cent (effective in 2018) instead of the current rate of 35 per cent. It’s being described as the single-biggest drop in the history of corporate
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