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Full-Text Articles in Law
Peer Pressure: Why America Should Succumb To The Territorial Tax Temptation, Paul Petrick
Peer Pressure: Why America Should Succumb To The Territorial Tax Temptation, Paul Petrick
Global Business Law Review
This Note argues that the United States should adopt a territorial tax system. Currently, the United States is one of a small group of nations that employs a worldwide system of taxation. Under a worldwide system, income is taxed both in the country where it is earned and in the country where the taxpayer resides. Alternatively, under a territorial system, income is taxed only in the country where it is earned. By adopting a territorial system, the United States would jettison the duplicative taxation inherent in the worldwide system. Additionally, the presence of anti-inversion rules, controlled foreign corporation rules, and …
Racking Up The Money: A Solution To The Ongoing Battle Between Rico And The Revenue Rule, Kye C. Handy
Racking Up The Money: A Solution To The Ongoing Battle Between Rico And The Revenue Rule, Kye C. Handy
Global Business Law Review
The Revenue Rule, a common law rule from British court systems, prevents foreign countries from bringing claims in the United States to enforce or adjudicate tax claims that did not happen in the United States. The United States Supreme Court in Pasquantino v. United States held that Canada’s right to collect imported liquor taxes was not barred by the Revenue Rule. However, the Second Circuit in European Community v. RJR Nabisco Inc., ruled the European Union and Colombia could not recover lost tax money or enforcement costs from cigarette smuggling under RICO because of the Revenue Rule. The European Community …