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Articles 1 - 8 of 8
Full-Text Articles in Taxation-Transnational
Why Y? Reflections On The Baucus Proposal, Reuven S. Avi-Yonah
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.
The Transfer Pricing Regs Need A Good Edit, Susan C. Morse
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 …
A Proposal For The Tax Treatment Of Interest In A Territorial System, Martin A. Sullivan
A Proposal For The Tax Treatment Of Interest In A Territorial System, Martin A. Sullivan
Pepperdine Law Review
To prevent negative effective tax rates in a territorial system, a multinational corporation’s deductions for interest expense attributable to foreign profits must be disallowed. To determine what portion of worldwide interest is foreign, it is commonly suggested that interest be allocated in proportion to assets. Because it would ease administrative problems and because it would reduce the incentives to shift profits through aggressive transfer pricing, allocation of interest in proportion to gross profits would be a superior approach. Also, contrary to the usual argument, the United States should not be reluctant to unilaterally adopt interest disallowance rules because it would …
Corporate And International Tax Reform: Proposals For The Second Obama Administration (And Beyond), Reuven S. Avi-Yonah
Corporate And International Tax Reform: Proposals For The Second Obama Administration (And Beyond), Reuven S. Avi-Yonah
Pepperdine Law Review
The passage of the American Taxpayer Relief Act of 2012 (“ATRA”) offers an opportune moment to consider proposals for corporate and international tax reform. With the debate over individual tax rates for the income and estate tax settled for the present, the President and Congress are free to consider broader reforms. This paper will attempt to raise some proposals for US corporate and international tax reform, beginning with long-term options (a 10 year horizon), continuing with the medium term (2-5 years) and concluding with short-term options (1-2 years). The main proposals are for the US to adopt a VAT and …
Should The Us Dictate World Tax Policy? Reflections On Ppl, Reuven S. Avi-Yonah
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 …
Corporate And International Tax Reform: Proposals For The Second Obama Administration (And Beyond), Reuven S. Avi-Yonah
Corporate And International Tax Reform: Proposals For The Second Obama Administration (And Beyond), Reuven S. Avi-Yonah
Articles
The passage of the American Taxpayer Relief Act of 2012 (ATRA) offers an opportune moment to consider proposals for corporate and international tax reform. With the debate over individual tax rates for the income and estate tax settled for the present, the President and Congress are free to consider broader reforms. Few observers doubt that such reforms are sorely needed, for several reasons. First, the long-term budgetary outlook is unsustainable. Second, the U.S. corporate tax rate is the highest in the Organisation for Economic Co-Operation and Development (OECD). Third, the current system raises relatively little revenue and large amounts of …
Jurisdiction To Tax Corporations, Omri Y. Marian
Jurisdiction To Tax Corporations, Omri Y. Marian
UF Law Faculty Publications
Corporate tax residence is fundamental to our federal income tax system. Whether a corporation is classified as “domestic” or “foreign” for U.S. federal income tax purposes determines the extent of tax jurisdiction the United States has over the corporation and its affiliates. Unfortunately, tax scholars seem to agree that the concept of corporate tax residence is “meaningless.” Underlying this perception are the ideas that corporations cannot have “real” residence because they are imaginary entities and because taxpayers can easily manipulate corporate tax residence tests. Commentators try to deal with the perceived meaninglessness by either trying to identify a normative basis …
Tax Advice For The Second Obama Administration, Michael J. Graetz
Tax Advice For The Second Obama Administration, Michael J. Graetz
Faculty Scholarship
Delivered January 18, 2013 as the keynote address at a conference cosponsored by Pepperdine Law School and Tax Analysts.