Trump has promised to further reduce taxes

The relevant initiative can be submitted as early as October, the US president admitted. According to this reform, according to the politician, corporate taxes in the United States will be reduced from 21% to 20%.

Photo: facebook.com/WhiteHouse

US President Donald Trump said that he expects: in October or "maybe a little earlier," the American authorities will present a draft of the second phase of corporate tax cuts in the country. The politician said this in an interview with Fox Business Network. Fully this dialogue will be heard on 1 July. On Friday, June 29, the television channel published an excerpt from this conversation on Twitter, writes RBC.

“One of the things that we are thinking about [now] is the need to bring [corporate tax] in 21% to 20%,” said Trump, stressing that in this way the authorities will be able to offer lower tax rates for the middle class. "We will conduct the second stage [of corporate tax reduction in the United States]," the American leader also assured, adding that the reform project, "probably", will be presented in October or, "maybe a little earlier."

.@realDonaldTrump: "We'll be doing a phase two. We'll be doing it probably in October, maybe a little sooner than that… One thing we're thinking about is bringing the 21% down to 20." pic.twitter.com/oQbFewN2RF

- FOX Business (@FoxBusiness) June 29, 2018

Trump signed the US Comprehensive Tax Reform Act last December. The changes have become one of the largest in the history of the country, before such a reform was one of Trump's key campaign promises. The law envisaged easing the tax burden for all sorts of taxpayers, but primarily for businesses, corporations and enterprises.

In particular, it provided for a radical reduction in corporate income tax from 35 to 21%, and also reduced the tax on funds that are returned to the country from the activities of legal entities abroad: to 15,5% for cash and for non-cash to 8% instead of the previous 35%.

In addition, the document provided for tax cuts for seven groups of individuals in the United States (including for young people and young families). The document also exempted a number of taxpayers from the so-called minimum alternative tax (it is a separate system of taxation of personal income in the United States, which operates in parallel with the ordinary income tax).

In addition, according to the reform, a new tax scale was introduced in the United States: 10, 12, 22, 24, 32, 35 and 37%. The lowest rate, by law, has become valid for people with an annual income of less than $ 9525 or for families earning up to $ 19050. In the event that the taxpayer receives from $ 82,5 thousand to $ 157,5 thousand, according to the reform, he now needs to pay 24% to the treasury. The threshold in 37% will be valid for Americans with earnings of more than $ 500 thousand.

About plans to reduce corporate taxes in the United States to 20% Trump has already announced in September last year. He then called this initiative "an opportunity that is given once a year to finally offer historical tax breaks for the American people."

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