Further light has been shed on US President Donald Trump's much vaunted tax plan, though specific details are still scant. The proposal includes reducing the statutory corporate tax rate from 35% to 15%. The proposal also plans to cut the so-called ‘pass through’ rate, the rate that mostly small firms pay via the individual tax code. A ‘one-off’ repatriation tax of 10% is also proposed. Absent is any suggestion of a border tax.