Taxation-Transnational Commons^™

The Meaning Of Capital In The Twenty-First Century, Edward J. Mccaffery

Edward J McCaffery

America is on a path towards a level of both wealth and income inequality unparalleled in recorded history. Thomas Piketty’s Capital in the Twenty-First Century summarizes and conveys the work of Piketty and many co-authors, over many decades, looking at the structure of income and wealth inequality across many nations and centuries. This review essay builds on Piketty’s ambitions as well as his data, in order to put forth a better solution: one that accepts and even embraces the facts of unequal ownership of capital, but changes the social meaning of those facts to avoid the social harms that follow …

Taxing Wealth Seriously, Edward J. Mccaffery

Edward J McCaffery

The social and political problems of wealth inequality in America are severe and getting worse. A surprise is that the U.S. tax system, as is, is a significant cause of these problems, not a cure for them. The tax-law doctrines that allow those who already have financial wealth to live, luxuriously and tax-free, or to pass on their wealth tax-free to heirs, are simple. The applicable legal doctrines have been in place for nearly a century under the income tax, the primary social tool for addressing matters of economic inequality. The analytic pathways to reform are easy to see once …

Tax Court Find Stars Transaction Lacks Economic Substance, Robert D. Probasco, Lee S. Meyercord

Robert Probasco

In Bank of New York Mellon Corp. v. Commissioner, the Tax Court found that a structured trust advantaged repackaged securities (“STARS”) transaction entered into by BNY Mellon lacked economic substance, and disallowed foreign tax credits of $199 million as well as transactional expenses of $8 million. BNY Mellon is the first test case to emerge from the IRS’s attempts to disallow tax benefits to several financial institutions that participated in the STARS transaction.

The STARS transaction is one of a number of different transactions that the IRS refers to as “foreign tax credit generators.” These transactions generally rely on inconsistent …

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

The Future Of Source-Based Taxation Of The Income Of Multinational Enterprises, Robert Green

Robert A. Green

No abstract provided.

The Interaction Of Tax And Non-Tax Treaties, Robert A. Green

Robert A. Green

This background note consists of two parts. Part one provides an overview of the extent to which tax matters are currently covered in non-tax treaties. This discussion focuses on the general agreement on tariffs and trade (GATT)/World Trade Organization (WTO) agreement and the North American free trade agreement (NAFTA) (which cover direct tax measures only to a limited extent) and the European Community (EC) treaty (which covers direct tax measures more broadly). Part two outlines the issues raised when tax matters are covered in non-tax treaties.

¿Es Válida La Ampliación De Demanda Signada Por Licenciado En Derecho Autorizado?, Guillermo Castorena

Guillermo Castorena

En la actualidad las Salas del Tribunal Federal de Justicia Fiscal y Administrativa, han venido interpretando en diversos sentidos el artículo 5 de la Ley Federal de Procedimiento Contencioso Administrativo para considerar si se debe de tener por presentada o no la ampliación de demanda signada por un licenciado en derecho autorizado por la actora o su representante legal.

The Income Of The 21st Century: Online Advertising As A Case Study For The Implications Of Technology For Source-Based Taxation, Assaf Y. Prussak

Assaf Y. Prussak

Throughout history, traditional trade and commerce, whether by land, sea or air, were always performed in a very physical manner, thus subjecting them to constraints and barriers imposed by both natural and man-made borders and jurisdictional lines. The computer and Internet revolutions, however, created a new medium for trade and commerce – the virtual marketplace. This unique platform for engaging in trade and commerce created new opportunities for value and profit generation in novel ways not previously available. One of these Internet-based revenue-generators is online advertising. With growing worldwide accessibility to the Internet, double-digit growth rate, and stronger-than-ever financial reports …

Panelist, A Policy Framework For Knowledge-Based Capital, Hugh Ault

Hugh J. Ault

No abstract provided.

Akteure Des Internationalen Steuerrechts Und Ihre Handlungsformen, Hugh Ault

Hugh J. Ault

No abstract provided.

Panelist, Oecd Conference On Intangibles, Hugh Ault

Hugh J. Ault

No abstract provided.

Panelist, Max Planck Insitute For Taxation Advisory Board, Hugh Ault

Hugh J. Ault

No abstract provided.

Transfer Pricing, Hugh Ault

Hugh J. Ault

Chaired meeting of 45 governmental and academic specialist

Comparative Income Taxation: A Structural Analysis, Hugh Ault, Brian Arnold

Hugh J. Ault

The purpose of this book is to compare different solutions adopted by nine industrialized countries to common problems of income tax design. As in other legal domains, comparative study of income taxation can provide fresh perspectives from which to examine a particular national system. Increasing economic globalization also makes understanding foreign tax systems relevant to a growing set of transnational business transactions. Comparative study is, however, notoriously difficult. Full understanding of a foreign tax system may require mastery not only of a foreign language, but also of foreign business and legal cultures. It would be the work of a lifetime …

Panelist, The International Network For Tax Research And The American Journal Of Comparative, Conference On "Comparative Tax Law: Theory And Practice, Hugh Ault

Hugh J. Ault

No abstract provided.

Award Presentation: 63rd International Fiscal Association Annual Meeting, Hugh Ault

Hugh J. Ault

No abstract provided.

Panelist, Confederation Of Swedish Enterprise, Tax Aspects Of Tradable Emissions Permits, Hugh Ault

Hugh J. Ault

No abstract provided.

2008 Oecd Model: The New Arbitration Provision, Hugh Ault

Hugh J. Ault

New Art. 25(5), added to Art. 25 (Mutual agreement procedure) of the OECD Model as part of the 2008 Update, provides for the mandatory arbitration of unresolved issues arising in the course of a mutual agreement procedure. This article first examines the various factors that led to the adoption of Art. 25(5) and the stages of its development by the OECD. The article then discusses some technical aspects of the new arbitration provision, including the Sample Mutual Agreement setting out some procedural rules, which is attached as an Annex to Art. 25.

Session Chair, Oecd Advisory Group For Co-Operation With Non-Oecd Countries, Hugh Ault

Hugh J. Ault

No abstract provided.

Panelist, Frankfurt International Arbitration Center: Tax Meets Arbitration, Hugh Ault

Hugh J. Ault

No abstract provided.

Reflections On The Role Of The Oecd In Developing International Tax Norms, Hugh Ault

Hugh J. Ault

On September 8–9, 2008, the Organisation for Economic Cooperation and Development (“OECD”) held a Special Conference commemorating the 50th Anniversary of the OECD Model Tax Convention (“Model Convention” or “Model”). The Conference was attended by over 650 participants from the private sector and the government, representing over 100 countries. Both the level of participation and the geographical diversity represented at the conference would seem concrete evidence of the perceived importance of the role of the OECD in developing international tax norms. In his remarks opening the conference, the OECD Secretary General noted that the success of the OECD Model was …

Japanese Cfc Rules Consistent With Treaty, Court Holds, Hugh Ault, Mitsuhiro Honda

Hugh J. Ault

In a practice article, Mitsuhiro Honda and Hugh J. Ault comment on a Tokyo High Court ruling that held that Japan's controlled foreign corporation rules are consistent with article 7(1) of the Japan-Singapore tax treaty.

Current Developments In Procedures For The Resolution Of International Tax Disputes, Hugh Ault

Hugh J. Ault

No abstract provided.

Lecture, “Current Issues In Us-Swedish Tax Relationships, Hugh Ault

Hugh J. Ault

No abstract provided.

Lecture, “The Work Of The Oecd In International Tax Matters, Recent Developments, Hugh Ault

Hugh J. Ault

No abstract provided.

Lecture, 21st Century Challenges For Tax Policy Makers And Tax Administrators, Hugh Ault

Hugh J. Ault

No abstract provided.

Introduction To United States International Taxation, Hugh Ault, James Repetti, Paul Mcdaniel

Hugh J. Ault

The 2005 edition of this well-known reference work for the tax community provides an introduction to the application of the United States international taxation system to taxpayers investing or transacting business in the US and other countries. In a relatively brief and manageable form, it sets forth the principles adopted by the US in taxing US or foreign individuals and corporations as they invest, work, or carry on a trade or business in the US or abroad. The presentation focuses on ten specific aspects of the subject matter: -general aspects of the corporation income tax, the individual income tax, the …

Improving The Resolution Of International Tax Disputes, Hugh Ault

Hugh J. Ault

The dramatic increase in international trade and investments and related phenomena under the general heading of Globalization have multiplied the situations in which international tax disputes can arise, both between taxpayers and governments but also, and in some ways, more importantly, between governments themselves. These disputes may involve transfer pricing issues, differing income characterization rules, disagreement about the existence of a permanent establishment, or more generally, diverging views on the appropriate exercise of potential taxing rights by the source country jurisdiction and the corresponding obligation of the residence country to provide double tax relief. In the current circumstances, it seems …

Review Of Foundations Of International Income Taxation, By Michael Graetz, Hugh Ault

Hugh J. Ault

No abstract provided.

U.S. Exemption/Territorial System Vs. Credit-Based System, Hugh Ault

Hugh J. Ault

No abstract provided.