The US Senate Committee on Finance has announced the issuance of a staff discussion draft on international business tax reform. The announcement was made in a Press Release dated 19 November 2013. The issued discussion draft is the first in a series of discussion drafts to overhaul the US tax code. It proposes a modern, competitive, simpler, and fairer international tax system by means of: -   reducing incentives for US and foreign multinationals to invest in, or shift profits to, low-tax foreign countries rather than the United States; -   reducing incentives for US-based businesses to move abroad, whether...