Tax Sound Bytes: The ABCs of FTCs
In the second episode of Tax Sound Bytes, a new podcast series from the Tax Practice Group covering issues affecting the taxation of the digital economy, host and Eversheds Sutherland Associate Mary Kate Nicholson welcomes Associate Hasnain Valika for a discussion about foreign tax credits (FTCs). During their conversation, they cover what exactly a FTC is, including its inclusion in specific tax codes, and how new regulations issued in December affect credibility of certain FTCs and interact with the OECD's Pillar I and II proposals. In addition, they discuss how the FTC regime would be changed by the Build Back Better Act. The conversation concludes with Mary Kate's favorite nontax question – if there was a book you could read over again for the first time, what would it be, and why? To stay up-to-date on the digital tax information you need to know for your business, subscribe to our Digital Taxation mailing list to receive updates from Digital Tax Bytes on a weekly basis.