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Reimagining A U.S. Corporate Tax Increase As A Supplemental Subtraction Vat, Daniel S. Goldberg
Reimagining A U.S. Corporate Tax Increase As A Supplemental Subtraction Vat, Daniel S. Goldberg
Faculty Scholarship
The U.S. federal government raises tax revenue almost exclusively through income taxes, both corporate and individual, whereas its trading partners and competitors rely for their national revenue on both income taxes and “destination-based” value added taxes (VATs), which are not imposed on exports but are imposed on imports. As a result, U.S. corporations, which are subject to U.S. corporate income tax, may be at a serious trade disadvantage to competitor non-U.S. corporations with respect to both U.S. domestic sales and foreign sales, if the U.S. corporate income tax exceeds the foreign country’s income tax imposed on those competitors.
The Biden …
The Mirage Of Mobile Capital, Wei Cui
The Mirage Of Mobile Capital, Wei Cui
All Faculty Publications
Capital mobility has preoccupied scholars of international taxation for more than 30 years. According to prevailing narratives, when capital is highly mobile, countries compete to attract investment, creating a race to the bottom; capital mobility also enables multinational enterprises (MNEs) to shift profits. The appeal of these narratives has culminated in the OECD’s proposed Global Minimum Tax, which declares the aim of substantially curtailing tax competition. This paper suggests, however, that the significance of mobile capital for international taxation may be largely an illusion.
Four deflationary arguments are advanced. First, the rising importance of intangibles for MNEs makes capital less, …