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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

Silicon Valley Concerned About OECD Digital Economy Draft, Practitioner Says

by David D. Stewart (Tax Analysts, Tax Notes Today)

While the OECD's base erosion and profit-shifting project action 1 discussion draft on the tax challenges of the digital economy raises many concerns for the U.S. technology industry, industry observers believe the discussions are taking place in the correct venue, according to Peter Skewes-Cox of PricewaterhouseCoopers LLP's San Jose, Calif., office.
Skewes-Cox said during an April 17 PwC webcast that there is a "high level of concern" in Silicon Valley over the prospect of changes to the taxation of the digital economy. However, he noted that in conversations he has had on the subject, there is an understanding the OECD is the "right forum" for the conversation. He said that if the OECD is able to work as it has in the past, it should be able to reach a consensus that prevents the creation of new barriers to global trade.
For the story, go here.

The British want to stop Starbucks from dodging taxes. It wont work.

by Jia Lynn Yang (Washington Post)

Mention Starbucks in the U.K., and many people think of lattes, Macchiatos — and tax dodging. The coffee giant has faced boycotts, protests and general animosity from the British public since reports emerged in 2012 that Starbucks was paying little to no taxes in the U.K., despite having hundreds of stores in the country.
Now, Starbucks has made another move in its effort to shore up relations. On Wednesday, Starbucks announced that it was moving its European headquarters from Amsterdam to London, adding a "modest number of senior executives" to the operation in London. The company also promises that the move will mean it pays higher taxes in the U.K. (although it's not clear what baseline the company is using for that assertion).

For the story, go here.