Rick Minor, SVP and International Tax Counsel at USCIB, submitted a letter this week on behalf of the USCIB Tax Committee to Rebecca Burch, Deputy Assistant Secretary at the US Treasury Department, expressing support for the Treasury’s efforts on Pillar Two. 

The letter states, “Most of our company members are impacted directly and indirectly by Pillar Two. USCIB members continue to invest resources in developing compliance processes for highly complex rules that in many if not most cases are expected to produce minimal additional tax liability (or the compliance costs exceed the tax costs).” 

Read the full letter here.