While the Trump administration said it would deliver its corporate tax reform, the most significant tax reform in the USA since 1986, by the summer of this year, business leaders are doubtful it will happen before 2018, according to a poll by KPMG USA.
At one of its recent TaxWatch webcast, KPMG USA polled 1,000 tax, financial and other business professional on the corporate tax reform, and 53% said it won’t go through until 2018 against 16% who said it will be achieved in 2017. Eleven percent believed it will not arrive before 2019 while 21% were uncertain of the timing .
Jeffrey LeSage, vice chairman tax services at KPMG USA said: “While many factors could affect the timing and eventual content of the tax reform proposal, the legislative process clearly needs to be a key area of focus for business leaders. Although the outcome is uncertain, we are looking at the best chance for meaningful tax reform in decades, so attention will likely continue to be high as developments unfold.”