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Expert Briefing Series: Accounting and Tax 2021 – Part II


US-German Tax Outlook 2021


On February 25, 2021, AmCham Germany and Warth & Klein Grant Thornton hosted the second joint webinar in a series of two.

Three renowned tax specialists from both sides of the Atlantic shed light on major shifts in US tax policy objectives and new developments in the German tax policy. They provided a highly interested audience with an in-depth overview of how multinational taxpayers may be impacted by proposed rule changes and how companies can prepare for upcoming legislation and regulatory changes.

David Sites, tax expert at Grant Thornton in Washington, DC, shared his insights into expected modifications under the Biden administration and the opportunities offered by a new single party control. He underpinned his presentation with specific examples such as corporate rates, the GILTI reform, onshoring proposals, and the new minimum tax proposals (AMT).

Christina Busch and Norbert Miethe, both tax experts at Warth & Klein Grant Thornton in Düsseldorf, depicted the German perspective. They outlined the status of the OECD's digital tax initiative, the taxation of German registered IP in context with Germany´s non-resident royalty taxation, the authority guidelines of November 2020 and February 2021, and the intended amendment of the German WHT regime.

The well-attended briefing was rounded up with suggestions on what multi-national companies need to reevaluate in order to benefit from tax planning prospects.

Founded in 1958 in Düsseldorf, Warth & Klein Grant Thornton has since been supporting clients in achieving their business goals. Grant Thornton, founded in 1920 in Chicago, helps dynamic organizations unlock their potential for growth by providing meaningful, forward-looking advice. Both firms are members of the Grant Thornton International network.

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