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Kimmitt Signals Corporate Tax Changes

by Mike Godfrey, Tax-News.com, Washington

20 November 2007


Robert Kimmitt, US Treasury Deputy Secretary has hinted at plans to alter the country's corporate tax regime in order to ensure US businesses are able to compete effectively with their international counterparts.

Speaking in an interview on CNBC, Mr. Kimmitt stated that: "I would anticipate that you'll see something before the end of the year. "

"We have been working both inside the administration and consulting closely with the Congress about the need for the corporate tax code to be more competitive," he told the television station.

Commenting meanwhile on the Alternative Minimum Tax 'patch' currently stalled in Congress, Mr Kimmitt observed, according to a Thomson Financial report, that: "We need to separate the debate on tax policy from tax administration, which is not a political issue.

He went on to add that "inevitable delays" in the tax filing season would result from the impasse between Democrats and Republicans over how to pay for the AMT patch.


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