While recent tax law changes have benefited the US in terms of raising tax revenue -- The Joint Committee on Taxation (JCT) estimated that the US federal government will generate close to $340 billion in fiscal revenue over nearly a decade – what happens to smaller domiciles whose stock and trade was providing a low-tax jurisdiction for multinational corporations? As Switzerland moves to change its tax laws, highlighting an increasing shift in tax burden from corporations to individuals, when will the race to the bottom end?
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