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Full-Text Articles in Law

U.S. International Treatment Of Financial Derivatives, Reuven Avi-Yonah, Linda Swartz Mar 1997

U.S. International Treatment Of Financial Derivatives, Reuven Avi-Yonah, Linda Swartz

Articles

The current proposals to substitute consumption for income as the principal U.S. tax base have already been the topic of considerable commentary in these pages. However, one issue has received relatively little attention in the discussion of the various reform proposals: What potential complications are likely to arise if a single major player in the world's economy unilaterally adopts radical tax reform? The global economy is becoming more and more unified, with multinational corporations dominating world trade and trillions of dollars in portfolio investment flowing across national boundaries. In this economy, what would be the consequences if a single country, …


To End Deferral As We Know It: Simplification Potential Of Check-The-Box, Reuven Avi-Yonah Jan 1997

To End Deferral As We Know It: Simplification Potential Of Check-The-Box, Reuven Avi-Yonah

Articles

On December 17, 1996, the Treasury Department issued final regulations under section 7701 of the Internal Revenue Code implementing the regime dubbed "check-the-box," under which taxpayers can elect to be treated as corporations or as passthrough entities for U.S. tax purposes. The purpose of this article is to argue that the adoption of these regulations affords a momentous opportunity for Congress to achieve significant simplification of the notoriously complex U.S. international tax rules. Fundamentally, the adoption of check-the- box means that U.S. taxpayers will be able to elect whether or not their foreign-source active income will enjoy deferral from current …


Review Of Company Tax Systems, Reuven S. Avi-Yonah Jan 1997

Review Of Company Tax Systems, Reuven S. Avi-Yonah

Reviews

Comparative taxation is a fascinating and frustrating subject. It is fascinating because, through the lens of tax law, one can observe how countries with very different historical and cultural traditions have grappled with similar problems and have reached solutions that have both common and disparate elements. For example, countries that start off with a schedular system for taxing different categories of income end up with near global coverage (e.g., through a "miscellaneous" schedule), and countries that adopt a global system introduce schedular elements (such as the U.S. treatment of capital gains and losses). Another example is the convergence between countries …


International Taxation Of Electronic Commerce, Reuven S. Avi-Yonah Jan 1997

International Taxation Of Electronic Commerce, Reuven S. Avi-Yonah

Articles

This article submits proposals for taxing the digital economy on the basis of the benefits and single tax principles.