The United States remains a favorable destination for global investment and offers a competitive environment in which to do business. However, the accelerating pace of change in US regulations and policy, combined with a more complex global environment, including unexpected developments such as the COVID-19 pandemic, amplify the need for layered planning. Global companies doing business in the United States should be even more vigilant with respect to their US tax situation and management of their US operations.
Our US Inbound Tax practice specifically focuses on helping you formulate your US inbound tax strategies so you can understand your business needs and meet your goals in the United States.
In the current challenging economic environment, we advise on:
Our approach is designed to identify tax opportunities and help address potentially adverse tax outcomes, so that the US business of a foreign multinational corporation plays its part in implementing a globally effective and integrated approach to tax planning for the group and tax outcomes are integrated seamlessly into business objectives and operations.
As businesses move to improve processes in customs and trade, many are considering how software solutions can automate compliance processes, reduce errors, and leverage international trade information and research. Technology use in trade currently is focused primarily on Enterprise Resource Planning (ERP) systems that are designed as part of company-wide systems and, in some cases, stand-alone software packages. Integration of ERP source data provides visibility to the supply chain, enables opportunities to lower customs duties, and improves compliance. Noncompliance can result in fines, delays, lost goods, revoking of trade privileges, and reputational damage.
As complexity in trade increases, technology will be pursued for more strategic analysis and planning. Emerging technologies, including artificial intelligence and machine learning, will more efficiently automate access to and manipulation of data for greater insights and decision making.
For more information, please contact any of the PwC’s US inbound specialists listed below.
Managing Director, PwC's Customs and International Trade Practice Co-Leader, PwC US
J. Fentress Seagroves
US Inbound XLOS Leader, Inbound Deals Leader, Inbound Advisory Leader, Japan Business Network leader, Atlanta, PwC US