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Accountancy Slice
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Treasury tightens CAMT rules

The Treasury Department has issued interim guidance on the corporate alternative minimum tax (CAMT), which imposes a 15% tax on corporations earning over $1bn in adjusted financial statement income. Treasury Secretary Scott Bessent criticized the CAMT, calling it "a flawed, partisan experiment," while emphasizing the need for clarity to support job growth and investment. The new guidance modifies previous notices and provides adjustments for various tax-related issues, allowing companies to avoid the CAMT. The Treasury plans further changes to the CAMT rules, aiming to reduce administrative burdens and enhance predictability for businesses.

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