The One Big Beautiful Bill Act, signed into law on July 4th, modifies some of the US international tax provisions enacted under the 2017 TCJA. These include changes to GILTI, FDII, and BEAT, as well as changes to expense allocation and income sourcing rules under the US FTC regime. Check out our latest Tax Insight for a full breakdown of the implications and what they mean for your business: https://pwc.to/4lFWBUC
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Updates
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President Trump has continued to pursue tariff enforcement measures as part of the administration’s broader trade policy agenda, with new and proposed duties on goods from the EU, Mexico, Canada and Russia. Companies should closely monitor future developments in the lead up to August 1. Stay up to date with PwC’s new US Tariff Insight. https://lnkd.in/gwXyGY5q
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The One Big Beautiful Bill Act is now law, reshaping the tax landscape for businesses. Watch PwC’s latest webcast for key updates, including permanent extensions to TCJA provisions, shifts in international tax, new incentives for US investment and updates to IRA clean energy credits. Learn what these changes mean for your business, and how you can take action now. https://pwc.to/46hhGzY
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PwC’s Christopher Desmond joins Policy on Demand to explain why an effective tariff strategy starts with a cross-functional team—customs, transfer pricing, tax, supply chain and the C-suite. Company-wide alignment helps avoid solutions that shift risks or create new costs. Tune in to learn more: https://pwc.to/44N3wnX
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New letters from the administration outline updated tariff rates for 21 countries, taking effect August 1 unless agreements are reached. Trade and compliance teams should review the potential impact of tariff changes on their import footprints, adjust customs procedures and evaluate sourcing and inventory strategies. Learn more with PwC’s new US Tariff Insight: https://pwc.to/44tdhso
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Pass-through entity taxes are here to stay, and they will continue to be deductible under the One Big Beautiful Bill Act. PwC’s Financial Services Tax Leader, Brian Rebhun, joins Policy on Demand to share how the new law will affect the financial services sector and how states and foreign investors might respond. Tune in to learn more: https://pwc.to/4lqf4EO
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🚨 Webcast Alert 🚨 On Tuesday, July 15, our tax policy and subject matter specialists will unpack the One Big Beautiful Bill’s tax provisions affecting businesses—including the extension of key TCJA provisions, adjustments to international tax rules and updates to certain IRA clean energy credits—now that President Trump signed it into law on July 4. Don’t miss the insights—register today: https://pwc.to/40CtGZ1
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With the One Big Beautiful Bill Act now signed into law, Chairman Dave Camp joins Scott McCandless and Sindhu Hirani Blume to discuss the tax provisions included in the bill, what it means for business, and next steps in terms of implementation. In addition, the team also discusses the state of play on the evolving tariff landscape as deadlines loom. Watch here: https://lnkd.in/g7J54A2a
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Our 2025 Tax Policy Outlook at the start of the year highlighted the need for action on a significant "must-pass" tax bill to address key 2017 TCJA provisions set to expire or change at year-end. H.R. 1, as passed by Congress, extends those individual, business, and international tax provisions, with some modifications, and introduces new tax relief measures. For our analysis of the tax provisions in the OBBBA as it moves toward being signed by President Trump, see PwC’s latest Tax Insight: https://lnkd.in/g2wUFmzr
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The Senate-passed bill marks another significant step in the legislative process, potentially clearing the way for the legislation to be signed into law by President Trump ahead of the self-imposed July 4 deadline. For a detailed analysis of the tax provisions included in the Senate bill, check out PwC's latest Tax Insight: https://lnkd.in/gBs2_qMt
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