University of Michigan Law School
University of Florida Levin College of Law
University of Connecticut School of Law
Penn State Law
Table Of Contents,
2019
Seattle University School of Law
Table Of Contents, Seattle University Law Review
Seattle University Law Review
No abstract provided.
Investment Treaties, Offshore Finance, And The Resource Curse,
2018
University of Virginia School of Law
Investment Treaties, Offshore Finance, And The Resource Curse, Karl M.F. Lockhart
Boston College Law Review
Questions of how best to understand offshore financial centers (“OFCs”)—countries that have low or zero tax rates, strong banking secrecy regulation, and easy-to-form legal entities—and what, if anything, the international community should do about them remain fixed on the agenda of national and international discourse. This Essay seeks to provide a new theoretical perspective on tax havens and applies this perspective to the cross-border legal regimes that govern international investment. This new analytical framework sees offshore financial centers as countries that are victims of the “resource curse,” as that term is described in economic development literature. Often physically ...
International Taxation In An Era Of Digital Disruption: Analyzing The Current Debate,
2018
Georgetown University Law Center
International Taxation In An Era Of Digital Disruption: Analyzing The Current Debate, Itai Grinberg
Georgetown Law Faculty Publications and Other Works
The “taxation of the digital economy” is currently at the top of the global international tax policymaking agenda. A core claim some European governments are advancing is that user data or user participation in the digital economy justifies a gross tax on digital receipts, new profit attribution criteria, or a special formulary apportionment factor in a future formulary regime targeted specifically at the “digital economy.” Just a couple years ago the OECD undertook an evaluation of whether the digital economy can (or should) be “ring-fenced” as part of the BEPS project, and concluded that it neither can be nor should ...
Tax Treaty Abuse And The Principal Purpose Test: Part Ii,
2018
Allard School of Law at the University of British Columbia
Tax Treaty Abuse And The Principal Purpose Test: Part Ii, David G. Duff
Faculty Publications
The Multilateral Convention to Implement Tax Treaty Measures to Prevent Base Erosion and Profit Shifting or Multilateral Instrument (MLI) has been described as “an historical turning point in the area of international taxation” which introduces a third layer of tax rules for the taxation of cross-border transactions in addition to domestic tax law and bilateral tax treaties. Of the many provisions of the MLI, the most important are the preamble text in Article 6(1) and the so-called principal purpose test (PPT) in Article 7(1), both of which have been adopted by all signatories to the MLI in order ...
Tax Treaty Abuse And The Principal Purpose Test - Part I,
2018
Allard School of Law at the University of British Columbia
Tax Treaty Abuse And The Principal Purpose Test - Part I, David G. Duff
Faculty Publications
The Multilateral Convention to Implement Tax Treaty Measures to Prevent Base Erosion and Profit Shifting (MLI) has been described as “an historical turning point in the area of international taxation” which introduces a third layer of tax rules for the taxation of cross-border transactions in addition to domestic tax law and bilateral tax treaties. Of the many provisions of the MLI, the most important are the preamble text in Article 6(1) and the so-called principal purpose test (PPT) in Article 7(1), both of which have been adopted by all signatories to the MLI in order to satisfy the ...
Legislative Foundation Of The United States' New International Tax System,
2018
Seattle University School of Law
Legislative Foundation Of The United States' New International Tax System, Joshua D. Harms
Seattle University Law Review
This Note begins with commentary on the United States’ former worldwide system of taxation. This system taxed multinational corporations’ offshore profits at the applicable domestic income tax rate less credits for taxes paid to foreign governments. This tax regime provided for the deferral of income tax due on the profits of multinational corporations’ overseas operations until the time of repatriation. This Note considers the issues inherent in this system and analyzes the repatriation tax holiday under the American Jobs Creation Act of 2004. This holiday has been unanimously criticized by both sides of the political aisle and led to large ...
Residence-Based Formulary Apportionment: (In-)Feasibility And Implications,
2018
Allard School of Law at the University of British Columbia
Residence-Based Formulary Apportionment: (In-)Feasibility And Implications, Wei Cui
Faculty Publications
I examine one way of taxing international corporate income that has not previously been studied, “residence-based formulary apportionment” or RBFA. I first offer a new taxonomy of different ways of taxing corporate income by reference to individual shareholders, and distinguish what I call the “shareholder attribution” approach from integration, pass-through, and other approaches. I then argue that although traditional international legal norms had led international tax design to avoid taxing foreign corporations “unconnected” with the taxing jurisdiction (e.g. foreign corporations earning only foreign income), these legal norms have gone through substantial transformations in recent years. The exercise of jurisdiction ...
The Meaning Of Capital In The Twenty-First Century,
2018
University of Southern California;California Institute of Tecnology
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 ...
Taxing Wealth Seriously,
2018
University of Southern California;California Institute of Tecnology
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 ...
Holding U.S. Corporations Accountable: Toward A Convergence Of U.S. International Tax Policy And International Human Rights,
2018
University of the District of Columbia David A.Clarke School of Law
Holding U.S. Corporations Accountable: Toward A Convergence Of U.S. International Tax Policy And International Human Rights, Jacqueline Laínez Flanagan
Pepperdine Law Review
International human rights litigation underscores the inverse relationship between corporate power and corporate accountability, with recent Supreme Court decisions demonstrating increased judicial protections of corporate rights and decreased corporate accountability. This article explores these recent decisions through a tax justice framework and argues that the convergence of international human rights law and U.S. international tax policy affords alternate methods to hold corporations accountable for violations of international law norms. This article specifically proposes higher scrutiny of foreign tax credits and an anti-deferral regime targeting the international activity of U.S. corporations that use subsidiaries to shelter income and decrease ...
Beps, Atap, And The New Tax Dialogue: "A Transatlantic Competition?",
2018
University of Michigan Law School
Beps, Atap, And The New Tax Dialogue: "A Transatlantic Competition?", Reuven Avi-Yonah, Gianluca Mazzoni
Articles
Since its launch in 2013, the US actively participated in all aspects of the BEPS project. However, until recently, the general view was that following the conclusion of the BEPS negotiations and the change of Administration the US is stepping back from the BEPS process. While the EU was charging ahead with implementing BEPS through the Anti-Tax Avoidance Directive (ATAD), the US stated that it was already in compliance with all BEPS minimum standards and therefore other than Country-by-Country Reporting (CbCR) it had no further BEPS obligations. The US decided not to sign the Multilateral Instrument (MLI) to implement BEPS ...
The International Provisions Of The Tcja: Six Results After Six Months,
2018
University of Michigan Law School
The International Provisions Of The Tcja: Six Results After Six Months, Reuven S. Avi-Yonah
Law & Economics Working Papers
Over six months have passed since the enactment of the TCJA, so it is now possible to reach some preliminary conclusions on its impact. The main ones are:
1. The transition tax plus anticipated GILTI tax minus territoriality have resulted in higher GAAP effective tax rates for 2017. In some cases they approach 35% for large multinationals with a lot of offshore income. For the first six months of 2018, however, overall corporate tax revenues are sharply down because of the 21% rate plus expensing. This is the exact reverse of the situation before TCJA in which MNEs showed very ...
The Contemporary Tax Journal Volume 7, No. 2 – Summer 2018,
2018
San Jose State University
The Contemporary Tax Journal Volume 7, No. 2 – Summer 2018
The Contemporary Tax Journal
No abstract provided.
Front Matter (Letter From The Editor, Masthead, Etc.),
2018
San Jose State University
Front Matter (Letter From The Editor, Masthead, Etc.)
The Contemporary Tax Journal
No abstract provided.
Summaries For The 33rd Annual Tei-Sjsu High Tech Tax Institute,
2018
San Jose State University
Summaries For The 33rd Annual Tei-Sjsu High Tech Tax Institute, Silin Chen, June Hostetter, Sahdia Saiara, Jessica Wong, Cherry Zheng
The Contemporary Tax Journal
No abstract provided.
The Contemporary Tax Journal's Interview With Mr. Eric Ryan,
2018
San Jose State University
The Contemporary Tax Journal's Interview With Mr. Eric Ryan, Sara (Yaqin) Sun
The Contemporary Tax Journal
No abstract provided.
Making Sense Of The European Union's Vat Tax System: Does The European Court Of Justice's Jurisprudence Support Harmonization?,
2018
University of Akron Wayne College
Making Sense Of The European Union's Vat Tax System: Does The European Court Of Justice's Jurisprudence Support Harmonization?, Jarrod Tudor
The Global Business Law Review
The Sixth Council Directive 77/388/EEC was adopted by the European Union (EU) as a means toward harmonization of the value-added tax (VAT) system. The Framers of Directive 77/388/EEC believed that a disjointed VAT tax system that existed previously was harmful to the common market’s guarantee of free movement of goods and services that are subject to the VAT tax. The jurisprudence of the European Court of Justice (ECJ) on the subject of the Sixth Council Directive 77/388/EEC reflects four dominant patterns, including the limitation of member-states to dictate the parameters of the VAT ...
No, You Really Don't Have To Pay: Protecting Tax Havens,
2018
University of Georgia School of Law
No, You Really Don't Have To Pay: Protecting Tax Havens, Max Matthew Wallace Ii
Georgia Journal of International & Comparative Law
No abstract provided.
A Global Treaty Override? The New Oecd Multilateral Tax Instrument And Its Limits,
2018
University of Michigan Law School
A Global Treaty Override? The New Oecd Multilateral Tax Instrument And Its Limits, Reuven S. Avi-Yonah, Haiyan Xu
Michigan Journal of International Law
This article will proceed as follows. Section 2 summarizes the main provisions of the MLI. Section 3 discusses the purpose of tax treaties in the twenty-first century, because it can be argued that they are less necessary under conditions of tax competition. Section 4 raises the question whether tax treaties can be improved short of a full-fledged multilateral tax treaty by inserting a most favored nation (MFN) provision similar to those found in bilateral investment treaties. Such an MFN provision operates over time to create a de facto multilateral treaty without the negotiation of one. Section 5 concludes this article.
Directed Tax Holidays: Economic Stimulus Or Corporate Dream?,
2018
College of William & Mary Law School
Directed Tax Holidays: Economic Stimulus Or Corporate Dream?, Dakota Newton
William & Mary Business Law Review
U.S. corporations currently have more than $2.4 trillion stashed in the accounts of their overseas subsidiaries—a sum that costs the domestic economy billions of dollars every year. A directed tax holiday is one potential method of inducing repatriation of those funds and stimulating the domestic economy. Although a previous tax holiday failed to meet expectations, current proposals from the public and private sectors suggest that a directed tax holiday could fund much-needed infrastructure investment. A review and economic analysis of these proposals shows that a directed tax holiday that channels revenue into expanding and updating infrastructure will ...
