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Full-Text Articles in Taxation-Transnational

Follow The Money: A Discussion Of The Organisation For Economic Co-Operation And Development’S Base Erosion And Profit Shifting Project: Has The Us Taken Steps To Adopt A Global Solution To This Worldwide Problem?, Claire Arritola Jan 2016

Follow The Money: A Discussion Of The Organisation For Economic Co-Operation And Development’S Base Erosion And Profit Shifting Project: Has The Us Taken Steps To Adopt A Global Solution To This Worldwide Problem?, Claire Arritola

University of Miami Business Law Review

This article looks at the recent actions taken by the Organisation for Economic Co-operation and Development (OECD) to prevent hybrid mismatches and tax base erosion. These actions have come in the form of the “Action Plan for Base Erosion and Profits” (BEPS). BEPS has spanned from 2013 to 2015 and has been the collaborative effort of representatives from 34 countries (with much help from the G-20 countries) as well as input from other non-member countries. Through this project, the OECD seeks to eradicate the problems caused by the current corporate tax structure and the tendency of countries to choose country-specific …


When International Tax Agreements Fail At Home: A U.S. Example, Diane Ring Jan 2016

When International Tax Agreements Fail At Home: A U.S. Example, Diane Ring

Brooklyn Journal of International Law

Over the past two and a half years, the international tax community has focused on the Base Erosion and Profit Shifting Project (BEPS project) undertaken by the Organisation for Economic Co-operation and Development (OECD) at the behest of the G20. According to the OECD, the resulting 2015 agreement involved the direct participation of more than sixty countries. An additional fifty-nine countries indirectly participated through regional dialogues. Furthermore, numerous international organizations are credited with participating in discussions and contributing to the resulting product. But, effective implementation of the BEPS agreement requires domestic action of various types—the domestic side of international agreement …


Full Circle? The Single Tax Principle, Beps, And The New Us Model, Reuven S. Avi-Yonah Jan 2016

Full Circle? The Single Tax Principle, Beps, And The New Us Model, Reuven S. Avi-Yonah

Articles

This paper will argue that while there is some innovation in BEPS, it is in fact more of a continuation that a sharp break with the past. Like Alexis de Tocqueville’s French Revolution, BEPS represents both continuity and change. In particular, the single tax principle has formed the theoretical basis of much of the international tax regime from the beginning. And it is in fact this continuity rather than any sharp change that gives the final BEPS package its promise to, as Secretary General Gurria also promised, “put an end to double non-taxation.”


Of More Than Usual Interest: The Taxing Problem Of Debt Principal, Charlene D. Luke Nov 2015

Of More Than Usual Interest: The Taxing Problem Of Debt Principal, Charlene D. Luke

Seattle University Law Review

Leverage is an essential but often troubling component of the U.S. market. The financial crisis highlighted the risks and complexity of a leverage web that includes flesh-and-blood people from all walks of life and paper people from all corners of the business and investment world. In the tax area, the potentially problematic incentive effects of interest deductibility have long engaged a wide array of tax commentators and policymakers. While interest deductibility rightly receives widespread scrutiny, a more comprehensive approach to leverage is needed. This Article focuses on the surprisingly complicated tax treatment of cash (and cash equivalent) borrowings. This Article …


Tax Incentives To Exportation: Alternatives To Disc, Timothy A. Peterson Oct 2015

Tax Incentives To Exportation: Alternatives To Disc, Timothy A. Peterson

Georgia Journal of International & Comparative Law

No abstract provided.


Offshore Web-Based Gambling Accounts Are Subject To Fbar, Min (Megan) K. Park Jul 2015

Offshore Web-Based Gambling Accounts Are Subject To Fbar, Min (Megan) K. Park

The Contemporary Tax Journal

No abstract provided.


The Contemporary Tax Journal Volume 5, No. 1 – Spring/Summer 2015 Jul 2015

The Contemporary Tax Journal Volume 5, No. 1 – Spring/Summer 2015

The Contemporary Tax Journal

No abstract provided.


Income Tax - Foreign Earned Income Exclusion - Effect Of The Economic Recovery Tax Act Of 1981 On Citizens Or Residents Of The United States Living Abroad, Jonathan M. Engram Apr 2015

Income Tax - Foreign Earned Income Exclusion - Effect Of The Economic Recovery Tax Act Of 1981 On Citizens Or Residents Of The United States Living Abroad, Jonathan M. Engram

Georgia Journal of International & Comparative Law

No abstract provided.


Income Tax - Deductions For Facilitating Payments To Foreign Government Officials, Birney Bull Apr 2015

Income Tax - Deductions For Facilitating Payments To Foreign Government Officials, Birney Bull

Georgia Journal of International & Comparative Law

No abstract provided.


Foreign Oil And Taxation: The Need For A Coordinated Energy Policy, E.C. Lashbrooke Jr. Mar 2015

Foreign Oil And Taxation: The Need For A Coordinated Energy Policy, E.C. Lashbrooke Jr.

Georgia Journal of International & Comparative Law

No abstract provided.


Book Review: Bibliography On Taxation Of Foreign Operations And Foreigners. Elisabeth A. Owens And Gretchen A. Hovemeyer. Cambridge, Massachusetts: International Tax Program, The Law School Of Harvard University, 1983., John C. O'Byrne Mar 2015

Book Review: Bibliography On Taxation Of Foreign Operations And Foreigners. Elisabeth A. Owens And Gretchen A. Hovemeyer. Cambridge, Massachusetts: International Tax Program, The Law School Of Harvard University, 1983., John C. O'Byrne

Georgia Journal of International & Comparative Law

No abstract provided.


Who Invented The Single Tax Principle?: An Essay On The History Of Us Treaty Policy, Reuven S. Avi-Yonah Jan 2015

Who Invented The Single Tax Principle?: An Essay On The History Of Us Treaty Policy, Reuven S. Avi-Yonah

Articles

In 1997, I wrote an article on the international tax challenges posed by the then-nascent electronic commerce, in which I suggested that the international tax regime is based on two principles: the benefits principle and the single tax principle. The benefits principle states that active (business) income should be taxed primarily by the country of source, and passive (investment) income should be taxed primarily by the country of residence. This is the famous compromise reached by the four economists at the foundation of the regime in 1923 and is not particularly controversial. It is embodied in every one of the …


Reflections On The 'New Wave' Inversions And Notice 2014-52, Reuven S. Avi-Yonah Oct 2014

Reflections On The 'New Wave' Inversions And Notice 2014-52, Reuven S. Avi-Yonah

Articles

On September 22 the Treasury Department issued Notice 2014-52, 2014-42 IRB 1. The notice was intended to fulfill President Obama’s pledge to use executive actions to the extent possible to block the new wave of corporate inversions. To what extent can the notice succeed? This article argues that while the notice is a useful first step, it is unlikely to stem the tide of inversion transactions. To do that, legislative action is needed in the short term. In the longer term, the only solution to inversions is coordination with other OECD countries in the context of the base erosion and …


Formulary Appointment In The U.S. International Income Tax System: Putting Lipstick On A Pig?, J. Clifton Fleming Jr., Robert J. Peroni, Stephen E. Shay Sep 2014

Formulary Appointment In The U.S. International Income Tax System: Putting Lipstick On A Pig?, J. Clifton Fleming Jr., Robert J. Peroni, Stephen E. Shay

Michigan Journal of International Law

An affiliated corporate group consists of two or more corporations linked by sufficient stock ownership to cause them to function as an economic unit instead of as independent economic actors. Thus, an affiliated corporate group engaged in international business is often referred to as a multinational enterprise (MNE), a term that we will use throughout this Article. When corporate members of an MNE engage in transactions among themselves, the prices they employ (transfer prices) will significantly affect the amount of overall MNE income that is allocated to each member and, hence, to the tax bases of the various countries in …


Personal Service Versus Royalty Income For Athletes, Chanpheareak (Luis) Chim May 2014

Personal Service Versus Royalty Income For Athletes, Chanpheareak (Luis) Chim

The Contemporary Tax Journal

No abstract provided.


Tax Incentives To Move Jobs Back To The U.S., Gamaliel Salazar May 2014

Tax Incentives To Move Jobs Back To The U.S., Gamaliel Salazar

The Contemporary Tax Journal

No abstract provided.


The Contemporary Tax Journal Volume 3, No. 2 – Spring 2014 May 2014

The Contemporary Tax Journal Volume 3, No. 2 – Spring 2014

The Contemporary Tax Journal

No abstract provided.


The Contemporary Tax Journal’S Interview Of Pam Olson, Stuti Seth May 2014

The Contemporary Tax Journal’S Interview Of Pam Olson, Stuti Seth

The Contemporary Tax Journal

No abstract provided.


The Devil In The Details: Reflections On The Camp Draft, Reuven S. Avi-Yonah Mar 2014

The Devil In The Details: Reflections On The Camp Draft, Reuven S. Avi-Yonah

Articles

The discussion draft of the Tax Reform Act of 2014 (TRA 14) released by House Ways and Means Committee Chair Dave Camp, R-Mich., on February 26 represents a major effort for fundamental and far-reaching reform of U.S. tax law. Unfortunately, while many parts of the proposal seem sensible as an effort to bring back the spirit of 1986, the international tax reform proposals are deeply flawed and based on obsolete assumptions of the world that faces U.S. multinationals in 2014.


Back From The Dead: Reviving Transfer Pricing Enforcement, Reuven S. Avi-Yonah Jan 2014

Back From The Dead: Reviving Transfer Pricing Enforcement, Reuven S. Avi-Yonah

Articles

The OECD has recently come to recognize that the transfer pricing system does not work as intended. In its report on base erosion and profit shifting 2013 WTD 140-17: Other Administrative Documents, the OECD recognizes that BEPS results in revenue losses that affect all states, especially poorer ones; that systematic tax avoidance by the richest and most powerful companies in the world undermines the general legitimacy of taxation; that it gives MNEs significant competitive advantages over purely domestic firms, resulting in inefficient allocations of investment and major distortions to economic activity; and that it skews the decisions of the MNEs …


How Serious Is The Problem Of Base Erosion And Profit Shifting?, James R. Hines Jr. Jan 2014

How Serious Is The Problem Of Base Erosion And Profit Shifting?, James R. Hines Jr.

Articles

In recent years, the problem of base erosion and profit shifting (BEPS) by multinational corporations has entered the public consciousness as a potentially important impediment to tax collections. The purpose of this article is to identify the nature of BEPS, consider empirical evidence of its magnitude, and evaluate proposed policy responses. There is considerable evidence that multinational firms arrange their affairs in a tax-sensitive manner, from which it is easy—indeed, perhaps a little too easy—to infer that beps is a serious problem. There are journalistic accounts of apparently spectacular international tax-avoidance schemes used by multinational corporations, though these stories commonly …


Why Y? Reflections On The Baucus Proposal, Reuven S. Avi-Yonah Dec 2013

Why Y? Reflections On The Baucus Proposal, Reuven S. Avi-Yonah

Articles

The international tax reform proposal introduced by Sen. Max Baucus, D-Mont., on November 19 contains several significant innovations that promise to define the terms of the debate for the foreseeable political future. (Prior coverage: Tax Notes Int’l, Nov. 25, 2013, p. 691.) It is therefore worth examining in detail even if it seems unlikely that progress toward meaningful reform can be achieved very soon.


A Review Of International Business Tax Reform, Alexander M. Lewis Oct 2013

A Review Of International Business Tax Reform, Alexander M. Lewis

University of Miami International and Comparative Law Review

No abstract provided.


The Contemporary Tax Journal Volume 3, No. 1 – Spring/Summer 2013 Jul 2013

The Contemporary Tax Journal Volume 3, No. 1 – Spring/Summer 2013

The Contemporary Tax Journal

No abstract provided.


A Tax Haven In The Friendly Skies?, Yan Jiang Jul 2013

A Tax Haven In The Friendly Skies?, Yan Jiang

The Contemporary Tax Journal

No abstract provided.


The Transfer Pricing Regs Need A Good Edit, Susan C. Morse May 2013

The Transfer Pricing Regs Need A Good Edit, Susan C. Morse

Pepperdine Law Review

The U.S. government has broad discretion to change the transfer pricing regulations as they apply to corporate multinationals, and these regulations need changing because they give too much leeway to taxpayers and will continue to serve an important function in the division of international tax jurisdiction regardless of the fate of pending reform proposals. Xilinx and Veritas illustrate that taxpayers whose transfer pricing is challenged can successfully defend themselves using arm’s length definitions in the government’s own regulations. U.S. tax administrators should write revised transfer pricing rules that afford taxpayers less contracting freedom. They should incrementally add formulaic elements to …


Putting The Reign Back In Sovereign, Allison Christians May 2013

Putting The Reign Back In Sovereign, Allison Christians

Pepperdine Law Review

In its first term, the Obama administration enacted two pieces of legislation, each designed to protect an increasingly vulnerable income tax base, and each of which had the potential to set a new and unprecedented course for no less than the regulation of the global economy by the nation-state. The first, the Foreign Account Tax Compliance Act (FATCA), sought to end global tax evasion through tax havens. The second, a little-noticed two-page addendum to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), sought to end the contribution of American multinationals to corruption in governance by codifying the transparency …


Tax Court Find Stars Transaction Lacks Economic Substance, Robert D. Probasco, Lee S. Meyercord Mar 2013

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

Faculty Scholarship

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 …


Should The Us Dictate World Tax Policy? Reflections On Ppl, Reuven S. Avi-Yonah Feb 2013

Should The Us Dictate World Tax Policy? Reflections On Ppl, Reuven S. Avi-Yonah

Articles

The U.S. Supreme Court’s decision to grant certiorari in PPL offers it a unique opportunity to change the law regarding foreign tax credits that has significantly impeded the ability of other countries to engage in meaningful tax reform. In 1938 the Court said in dicta that to qualify for the FTC a tax had to be an income or excess profits tax (or a tax imposed in lieu thereof) under U.S. tax principles. This statement has led to an elaborate set of regulations defining what is an income tax, which has significantly hampered the ability of foreign countries to adopt …


Go Abroad, Young Man, Go Abroad: The Economic Recovery Tax Act Of 1981'S Changes In The Treatment Of Foreign Earned Income, Sheldon J. Fleming Feb 2013

Go Abroad, Young Man, Go Abroad: The Economic Recovery Tax Act Of 1981'S Changes In The Treatment Of Foreign Earned Income, Sheldon J. Fleming

Pepperdine Law Review

The Economic Recovery Tax Act of 1981 made major revisions in the taxation of foreign earned income. The former tax provisions of sections 911 and 913failed in their purpose of equitably compensating individuals for the increased costs of working abroad, and have been replaced with a new section 911. The new law encourages Americans to go abroad by according them the most liberal tax benefits in over fifty years.