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Before International Tax Reform, We Need To Understand Why Firms Invert, Michael S. Knoll 2017 University of Pennsylvania Law School

Before International Tax Reform, We Need To Understand Why Firms Invert, Michael S. Knoll

Faculty Scholarship

A wave of corporate inversions by U.S. firms over the past two decades has generated substantial debate in academic, business, and policy circles.

The core of the debate hinges on a couple of key economic questions: Do U.S. tax laws disadvantage U.S.-domiciled companies relative to their foreign competitors? And, if so, do inversions improve the competitiveness of U.S. multinational firms both abroad and at home?

There is unfortunately little, if any, empirical work directly determining whether U.S.-based MNCs are currently tax-disadvantaged compared to their foreign rivals, or measuring the amount by which (if ...


Evaluating Beps, Reuven Avi-Yonah, Haiyan Xu 2017 University of Michigan Law School

Evaluating Beps, Reuven Avi-Yonah, Haiyan Xu

Articles

This article evaluates the recently completed Base Erosion and Profit Shifting (BEPS) project of the G20 and OECD and offers some alternatives for reform.


Evasion Of Foreign Taxes For Wildlife Exports As A Violation Of The Lacey Act, Audrey Elzerman 2017 Rhode Island Sea Grant Law Fellow

Evasion Of Foreign Taxes For Wildlife Exports As A Violation Of The Lacey Act, Audrey Elzerman

Sea Grant Law Fellow Publications

This study considers whether violations of foreign export duty requirements for live wildlife shipments can be prosecuted under United States law. The next section introduces the Lacey Act, which offers a potent enforcement tool against wildlife trafficking and related offenses. The study then considers whether and how export duty fraud violates the Lacey Act and the possible penalties that apply to such violations. Finally, it uses the Philippines as a case study to illustrate the utility of exporting country laws for Lacey Act prosecution of these cases.


Offshore Accounts: Insider's Summary Of Fatca And Its Potential Future, J. Richard Harvey Jr. 2017 Selected Works

Offshore Accounts: Insider's Summary Of Fatca And Its Potential Future, J. Richard Harvey Jr.

Richard Harvey

No abstract provided.


Transparency, Disclosure And Developing Countries, Diane M. Ring 2017 Boston College Law School

Transparency, Disclosure And Developing Countries, Diane M. Ring

Diane M. Ring

No abstract provided.


Front Matter (Letter From The Editor, Masthead, Etc.), 2017 San Jose State University

Front Matter (Letter From The Editor, Masthead, Etc.)

The Contemporary Tax Journal

No abstract provided.


Country By Country Reporting Under Beps, Fenny Lei 2017 San Jose State University

Country By Country Reporting Under Beps, Fenny Lei

The Contemporary Tax Journal

No abstract provided.


Summaries For The 32nd Annual Tei-Sjsu High Tech Tax Institute, Saqib Amin, Silin Chen, Ophelia Ding, Veena Hemachandran, Elle San Pedro de Kornsand, Padmini Yalamarthi, Yu Zheng 2017 San Jose State University

Summaries For The 32nd Annual Tei-Sjsu High Tech Tax Institute, Saqib Amin, Silin Chen, Ophelia Ding, Veena Hemachandran, Elle San Pedro De Kornsand, Padmini Yalamarthi, Yu Zheng

The Contemporary Tax Journal

No abstract provided.


The Contemporary Tax Journal Volume 6, No. 2 – Spring 2017, 2017 San Jose State University

The Contemporary Tax Journal Volume 6, No. 2 – Spring 2017

The Contemporary Tax Journal

No abstract provided.


U.S. Tax Forms For American Expatriates, Saqib Amin CPA 2017 San Jose State University

U.S. Tax Forms For American Expatriates, Saqib Amin Cpa

The Contemporary Tax Journal

No abstract provided.


Base Erosion And Profit Shifting: How Corporations Use Transfer Pricing To Avoid Taxation, Gregory Pun 2017 Boston College Law School

Base Erosion And Profit Shifting: How Corporations Use Transfer Pricing To Avoid Taxation, Gregory Pun

Boston College International and Comparative Law Review

In an increasingly global economy, base erosion and profit shifting (BEPS) has allowed multinational corporations to utilize their subsidiaries to move assets and profits. As a result, corporations are able to lower their tax bills, but also deprive governments of integral tax funds, while leaving smaller competitors who pay their fair share of taxes at a disadvantage. To combat the effects of BEPS, the Organization for Economic Cooperation and Development (OECD) has collaborated with the Group of 20 (G20) major economies for the first time to implement an action plan. The BEPS Project seeks to ensure all corporations pay proper ...


Nobody’S Stock Compares To Your Own: How Treasury Can Revive Stock Compensation In Cost-Sharing Agreements, Tyler Johnson 2017 Northwestern Pritzker School of Law

Nobody’S Stock Compares To Your Own: How Treasury Can Revive Stock Compensation In Cost-Sharing Agreements, Tyler Johnson

Northwestern University Law Review

In Altera Corp. v. Commissioner, the United States Tax Court invalidated a 2003 Treasury Regulation for failing to meet State Farm’s reasoned decisionmaking standard under the Administrative Procedure Act (APA). Invalidating this specific regulation eliminates one of the federal government’s latest attempts to limit income tax avoidance by some of the world’s largest and wealthiest corporations in the murky world of transfer pricing. This Note demonstrates that the Tax Court’s ruling must be limited to its specific APA holding and argues that Treasury may enact a similar regulation under the existing statutory and regulatory framework of ...


Problems With Destination-Based Corporate Taxes And The Ryan Blueprint, Reuven S. Avi-Yonah, Kimberly Clausing 2017 University of Michigan Law School

Problems With Destination-Based Corporate Taxes And The Ryan Blueprint, Reuven S. Avi-Yonah, Kimberly Clausing

Articles

With the election of Donald Trump and the Republican Party’s domination of Congress, House Speaker Paul Ryan’s blueprint for fundamental tax reform requires more careful analysis. The Ryan blueprint combines reduced individual rates with a destination-based cash flow type business tax applicable to all businesses. The destination-based business tax at the center of the blueprint has several major problems: It is incompatible with our WTO obligations, it is incompatible with our tax treaties, and it will not eliminate the problems of income shifting and inversions it is designed to address. In addition, these proposals generate vexing technical problems ...


The Gordian Knot: How The United States, The European Union, And Organization For Economic Cooperation And Development Took Action Against Corporate Tax Avoidance, Katlyn Twomey 2017 Bryant University

The Gordian Knot: How The United States, The European Union, And Organization For Economic Cooperation And Development Took Action Against Corporate Tax Avoidance, Katlyn Twomey

Honors Projects in History and Social Sciences

In 2016, the United States had the highest corporate tax rate in the world. Perhaps, the high tax rate could be why American corporations are holding an estimated $2.5 trillion abroad (Cox 2016). According to a study by the Bureau of Economic Analysis, U.S. firms pay a measly 3% in tax to foreign governments on those profits, rather than the 35% U.S. corporate tax rate. How are these corporations able to legally avoid paying taxes on a large percentage of their profits? Many use various loopholes in the laws to shift profits into other countries or U ...


Transparency, Disclosure And Developing Countries, Diane M. Ring 2017 Boston College Law School

Transparency, Disclosure And Developing Countries, Diane M. Ring

Boston College Law School Faculty Papers

No abstract provided.


No More Starving Artists: Why The Art Market Needs A Universal Artist Resale Royalty Right, Allison Schten 2017 Notre Dame Law School

No More Starving Artists: Why The Art Market Needs A Universal Artist Resale Royalty Right, Allison Schten

Notre Dame Journal of International & Comparative Law

Artists often struggle to make a living because they see profits only from the first sales of their work. Unlike other creative arts, where the creator can earn a living via sales of books or music, an artist’s product is valuable for its singularity. Droit de suite, or the artist resale royalty right, allows artists to recover a percentage of profits from resales of their work. Implementing resale royalty schemes has been a subject of controversy worldwide due to fears that the art market will relocate to areas without such additional transaction costs—but broad-scale, international implementation of droit ...


International Tax Avoidance -- Introduction, Reuven S. Avi-Yonah 2017 University of Michigan Law School

International Tax Avoidance -- Introduction, Reuven S. Avi-Yonah

Articles

Tax avoidance and evasion is a hot topic. On the evasion (illegal activity by individuals) front, the various leaks culminating in the Panama Papers have once again revealed the scope of evasion by the global elite. Gabriel Zucman conservatively estimated the annual revenue loss at $200 billion. On the tax avoidance (legal activity by corporations) front, the OECD BEPS project has estimated the scope of avoidance by multinationals at between $100 and $240 billion per year. By comparison, total US corporate tax revenues are about $400 billion per year. The articles in this volume reflect various aspects of these troubling ...


Gaars And The Nexus Between Statutory Interpretation And Legislative Drafting: Lessons For The U.S. From Canada, Reuven S. Avi-Yonah, Amir Pichhadze 2017 University of Michigan Law School

Gaars And The Nexus Between Statutory Interpretation And Legislative Drafting: Lessons For The U.S. From Canada, Reuven S. Avi-Yonah, Amir Pichhadze

Articles

Rules targeting specific known schemes are not the only tools available in the battle against tax avoidance. Legal systems also use measures that apply generally. The U.S. for example has tended to rely heavily on general doctrines. One such doctrine which is discussed in part 2 of this chapter is the “economic substance” doctrine. Yet as Xiong and Evans recently pointed out “although such judicial doctrines can be used to deal with various aspects of complicated tax abuse judges tended sometimes to limit and sometimes to enlarge the scope of jurisprudential interpretation leading to substantial uncertainty and risk.” One ...


How May The United States Leverage Fatca To Incentivize Good Tax Administrations Among The World Of Black Hat And Grey Hat Governments?, William H. Byrnes 2017 Texas A&M University School of Law

How May The United States Leverage Fatca To Incentivize Good Tax Administrations Among The World Of Black Hat And Grey Hat Governments?, William H. Byrnes

William H. Byrnes

This Essay serves as a preliminary narrative to examine the serious challenge of Control Firsters’ vision that every jurisdiction should have complete information on all transactions by any taxpayer. The world has many, potentially a majority, of grey hat and black hat governments and tax administrations. One measure of which governments fall into these categories is Transparency International’s corruption index. Of 167 countries ranked by Transparency International for breadth of corruption from one hundred (very clean) to zero (highly corrupt/failed state), only fifty countries ranked above a score of fifty, and only twelve scored above eighty. A question ...


Formulary Apportionment And International Tax Rules, Reuven S. Avi-Yonah, Zachee Pouga Tinhaga 2017 University of Michigan Law School

Formulary Apportionment And International Tax Rules, Reuven S. Avi-Yonah, Zachee Pouga Tinhaga

Book Chapters

Any proposal to adopt unitary taxation (UT) of multinationals has to contend with whether such taxation is compatible with existing international tax rules, and, in particular, with the bilateral tax treaty network. Indeed, some researchers have argued that the separate accounting (SA) method and the arm’s length standard (ALS), introduced in the early twentieth century, are so embodied in the treaties that they form part of customary international law, and are binding even in the absence of a treaty. We disagree, because the unitary approach is just as widely embodied in most of the current international tax treaties, and ...


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