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's membership consists of major U.S.-based multinational companies, representing diverse industries and a huge portion of overall U.S. economic activity.
American Express Company
American International Group
Bank of America
Bank of New York/Mellon
Barclays Capital Inc.
Cisco Systems, Inc.
Dow Chemical Company
E.I. DuPont De Nemours & Co.
Exxon Mobil Corporation
Johnson & Johnson
Johnson Controls Inc.
Mondelez International Inc.
Procter & Gamble Company
State Street Corp.
Time Warner, Inc.
United Technologies Corporation
Walmart Stores Inc.
Latest International Tax Policy NewsWyden Statement Regarding Plans to Address Corporate Inversions
by Lindsey Held (The United States Senate Committee on Finance)
Senate Finance Committee Chairman Ron Wyden, D-Ore., issued a statement today regarding congressional proposals to close the inversion loophole.Schumer Details Interest Deduction Limits in Inversions
“This issue demands a resolution in the near term and I hope to have bipartisan legislation in place come September.”
For the statement, go here.
by Richard Rubin (Bloomberg)
Senator Charles Schumer released a proposal today that would limit deductions available for U.S. companies that take a foreign address to reduce their taxes.
Schumer, a New York Democrat, wants to curb a practice known as “earnings stripping,” in which companies that engage in inversion transactions then load up their U.S. operations with debt and reduce their U.S. taxable income.
Schumer’s plan may become part of a broader effort by Democratic lawmakers to curb inversions, which faces major hurdles before it can become law.
For the story, go here.