by Gaspard SebagThe European Union, locked in a tax battle with the likes of Apple Inc. and McDonald's Corp., laid down the law in its bid to rein in governments that woo multinationals with special deals allowing them to reduce their fiscal liability by booking profits abroad.For DTR story, go here Subscription Required
- by Amy S. ElliottAre the documentation requirements in the proposed section 385 debt or equity regulations strict in comparison to those of other countries or do they only seem onerous because U.S. multinationals have historically been lax in achieving the gold standard of contemporaneous documentation?
- by Kat LuceroA bipartisan group of Senate taxwriters urged the Treasury Department on May 23 to put pressure on the European Commission to keep it from issuing tax regulations that would single out U.S. multinational companies in ongoing state aid investigations.
- by William HokeAfter weeks of defending itself against criticisms for state aid cases targeting rulings granted to U.S. multinationals, the European Commission has published a detailed paper explaining the criteria for determining whether benefits provided by a member state are in violation of EU law.
- by Ryan FinleyThe basic principles of the current international tax regime are fatally flawed and antiavoidance measures that fall short of a complete overhaul are doomed to fail, according to a panel of academics, reform advocates, and other experts.
- by Alexander LewisIn the fight against harmful tax competition, the number one issue for developing countries is tax incentives, said Grace Perez-Navarro, deputy director of the OECD's Centre for Tax Policy and Administration.
by Alexander LewisThe Delhi High Court on May 16 ruled in Adobe Systems Inc. vs. ADIT that a U.S.-based software company's Indian subsidiary is not a permanent establishment under the India-U.S. income tax treaty.For the WWTD story, go here Subscription Required
- by Ryan FinleyThe string of revelations and scandals that have made taxation a major political issue in Europe have provided an "incredible opportunity" for member states to reach consensus on a common consolidated corporate tax base, according to Alain Lamassoure, chair of the TAXE II Committee.For the WWTD story, go here. (subscription required)
by Mindy Herzfeld
The OECD's base erosion and profit-shifting project is based in large part on the premise that those practices are harmful because they deprive governments of needed revenues. Few have disputed this assumption, and even the corporate tax community has not defended base erosion practices.
Among the few who are willing to challenge this basic assumption is Daniel Mitchell of the Cato Institute, whose blog defends international tax competition.
For the TNI article, go here. (subscription required)