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What’s Next for Tax Competition?

TweetShareSharePin0 Shares The recent agreement on a global minimum tax and other changes to tax rules around the world have called into question the future of tax competition. It is difficult to anticipate how tax competition will ultimately be impacted by these changes, although I seriously doubt that the usefulness of Tax Foundation’s International Tax

Impact of National Tax Reforms on the EU Economy

TweetShareSharePin0 Shares Note: The following is the testimony of Daniel Bunn, Tax Foundation Vice President of Global Projects, prepared for a EU Parliament Subcommittee on Tax Matters hearing on October 11, 2021, regarding the impact of national tax reforms on the EU economy. Thank you for the opportunity to testify today. My name is Daniel Bunn, and I am

US Multinational Corporation Tax Data & Analysis

TweetShareSharePin0 Shares Recent proposals from the Biden administration and congressional Democrats aim to hike taxes on the foreign profits of U.S. multinationals, resting on the claim that U.S. multinationals pay very low tax rates on these foreign profits. But how heavily taxed are they, and how would various proposals affect these tax rates? U.S. multinational

House Democrats Tax on Corporate Income: Third-Highest in OECD

TweetShareSharePin0 Shares Under the House Ways and Means tax plan, the United States would tax corporate income at the third-highest integrated tax rate among rich nations, averaging 56.6 percent. The integrated tax rate reflects the two layers of tax that apply to income earned through corporations: the entity-level corporate income tax and the shareholder-level capital

Which Global Minimum Tax Will We Get?

TweetShareSharePin0 Shares Over the course of the last year, it has become clear that Democratic lawmakers want to change U.S. international tax rules. However, as proposals have surfaced in recent weeks, there are clear divides among various proposals. While President Biden has led a renewed effort on global negotiations over minimum taxation, his own proposals

Comments on the Wyden, Brown, Warner International Tax Overhaul Draft

TweetShareSharePin0 Shares Introduction Tax Foundation welcomes the opportunity to offer comments on the Wyden, Warner, Brown discussion draft on international taxation. Tax Foundation is a nonprofit think tank based in Washington, D.C., and our mission is to improve lives through tax policies that lead to greater economic growth and opportunity. We use the four principles

A Hidden Tax on Domestic Activities & Foreign Profits

TweetShareSharePin11 Shares The U.S. corporate tax code is a complicated behemoth, loaded with numerous arcane provisions—some of these providing special tax breaks, others imposing special tax penalties. Among the latter group, indirect expense allocation rules penalize domestic activities and impose a hidden surtax on foreign profits. While arcane, expense allocation rules are relevant to current

International Tax Proposals and Profit Shifting

TweetShareSharePin0 Shares Profit shifting by multinationals poses a major challenge in international taxation. The ability of multinational enterprises to shift the location of profits from high-tax to low-tax jurisdictions and tax havens erodes the corporate income tax base in high-tax countries. For example, a multinational with patents owned by an Irish affiliate can shift profits
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