COVID-19 is profoundly affecting the global economy. Disruptions to global supply chains may have unexpected or unintended tax consequences related to additional expenses or decreases in revenue. Baker Tilly’s International Tax Specialists are well prepared to assist our clients with managing these disruptions and the effects they may have on their tax positions.
From a policy perspective, tax policies, legislative changes, and potential rate cuts could be introduced to alleviate the unintended consequences of the coronavirus’ impact on global taxation. COVID-19 may also create tax issues related to expat workers forced to come home or quarantined, as countries deal with this global pandemic.
Our international tax specialists are actively addressing pressing issues related to COVID-19 and can assist with advising on U.S.-based and local-country matters.