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Competitiveness Index

ITPF/ AEI Conference

Economic Effects of Territorial Taxation

With a Keynote Address by CEA Chairman Jason Furman

March 31, 2014

As Congress deliberates business tax reform options, the international aspects often prove most complex. All G-8 countries other than the United States have “territorial” tax systems that exempt 95-100 percent of qualified dividends repatriated from foreign subsidiaries. This event, which is cosponsored by the AEI and the International Tax Policy Forum, explores the economic effects of territorial taxation. Based on international experience, including Japan and the UK, panelists will examine the effects of international tax rules on: base erosion and profit shifting; repatriation of foreign profits; and cross-border mergers and acquisitions and headquarters location. The event will conclude with a luncheon address by Jason Furman, Chairman of the White House Council of Economic Advisers.

For conference materials, go here

Video link to the conference, go here

Mission and Goals

Founded in 1992, the International Tax Policy Forum (ITPF) sponsors nonpartisan academic research and conferences to promote an informed dialogue on international tax issues. Currently, ITPF's membership includes more than 40 major, U.S.-based multinational companies.

ITPF Members
ITPF's membership consists of major U.S.-based multinational companies, representing diverse industries and a huge portion of overall U.S. economic activity.

Abbott Laboratories
AbbVie, Inc.
Alcoa Inc.
American Express Company
American International Group
Bank of America
Bank of New York/Mellon
Barclays Capital Inc.
Boston Scientific
Cargill Inc.
Caterpillar Inc.
Chevron Corporation
Cisco Systems, Inc.
Citigroup, Inc.
Coca-Cola Company
Dow Chemical Company
E.I. DuPont De Nemours & Co.
Eaton Corporation
Exxon Mobil Corporation
General Mills
Goldman Sachs
Hewlett-Packard Company
IBM Corporation
Johnson & Johnson
Johnson Controls Inc.
Mars, Incorporated
McDonald's Corporation
Mondelez International Inc.
Morgan Stanley
PepsiCo, Inc.
Pfizer Inc.
Procter & Gamble Company
State Street Corp.
Time Warner, Inc.
Tupperware Corporation
United Technologies Corporation
Walmart Stores Inc.

Latest International Tax Policy News

UK and Germany agree on joint proposal regarding preferential IP regimes: good...

by PwC

The UK and German governments on November 11, 2014, announced a proposal that they co-developed to advance negotiations on new rules for preferential intellectual property regimes within the G20/OECD base erosion and profit shifting (BEPS) project. If agreed, this is a key development for the UK patent box. Germany had led opposition to patent box regimes, while the UK was in the minority in opposing the nexus approach as set out in the September OECD BEPS paper on Harmful Tax Practices.

For the PwC Insight, go here.

News Analysis: International Changes the United States Shouldn't Have Made

by Lee A. Sheppard (Tax Analysts)

The United States is not serious about taxing U.S. multinationals on their foreign income and does not need the revenue.
This fundamental understanding is amply demonstrated by the U.S. attitude toward the base erosion and profit-shifting project, which is a polite pretense of participation with quiet undermining. European efforts to change laws to extract tax from U.S. multinationals are met with U.S. proposals to enact a minimum tax that would still have the effect of encouraging foreign investment.
For the story, go here. (subscription required)