The ITPF News Blog is managed by the students at the University of Florida Levin College of Law International Tax LLM Program.
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By Michael P. Devereux and Rita de la Feria
The authors argue that the current international tax system based upon the principles of source and residence is no longer suited to a globalised world economy, and the fundamentals of the international tax system need to be re-examined. They propose an R+F based cash-flow tax based on the principle of destination as a suitable alternative to taxing corporations in an international setting. The paper’s aim is to discuss the legal and practical issues which would arise in the implementation of such a tax, namely how a destination-based tax could be effectively designed and implemented. For this purpose the authors draw on experiences with designing VAT systems worldwide. It is proposed that the destination principle should be implemented through use of the customers’ location as the main legal proxy.
By William Horobin and Aoife White
Big internet companies have long been the target of complaints that they don’t pay enough in taxes. Fed up, France imposed a 3% levy on the digital revenue of companies that make their sales primarily in cyberspace, such as Facebook Inc. and Alphabet Inc.’s Google. Other countries also are targeting companies, most of which are American, that have multinational earnings that often escape the taxman’s grip. The U.S. isn’t taking this sitting down.
By William Horobin, Jenny Leonard, and Laura Davison
The U.S. proposed tariffs on roughly $2.4 billion in French products, in response to a tax on digital revenues that hits large American tech companies including Google, Apple Inc., Facebook Inc. and Amazon.com Inc.
By Peter Flanagan
Ireland is too reliant on corporation tax from a small number of international operations to fund spending, the state’s fiscal watchdog warned.
By Yoshiaki Nohara
Japanese retail sales plunged in October after a sales tax hike and a super-typhoon kept shoppers at home, a factor the government is likely to consider as it mulls the size of a spending package to support growth.
By Natalia Drozdiak and Maria Tadeo
The European Union will still pursue a digital tax even if a global push at the OECD fails, the EU’s new digital czar told Bloomberg TV.
By Eric Martin and Andrea Navarro
Mexican President Andres Manuel Lopez Obrador’s administration may speed up plans for a tax overhaul to generate more revenue if 2020 budget assumptions turn out to be overly optimistic, a top official said.
By Siri Bulusu
The Treasury Department offered some relief to companies that lost foreign tax credits after investing in research and development operations in the U.S.
By Isabel Gottlieb
Companies are making the case they shouldn’t face new rules and standards to comply with a global minimum tax plan.
By William Horobin and James Regan
French Finance Minister Bruno Le Maire says it would be “incomprehensible“ for the U.S. to sanction France for the introduction of a tax on digital revenue.
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