The Resource Repatriation of foreign earnings : a lesson from past efforts

Repatriation of foreign earnings : a lesson from past efforts

Label
Repatriation of foreign earnings : a lesson from past efforts
Title
Repatriation of foreign earnings : a lesson from past efforts
Creator
Subject
Language
eng
Summary
Overhauling the U.S. system for taxing multinational businesses is currently the subject of much debate, spawning countless opinions. The U.S. currently uses a worldwide tax system in which internationally operating corporations headquartered in the U.S., are taxed on both foreign and domestic income rather than taxing only the income earned within the country's borders. According to the authors, comprehensive tax reforms which have recently lowered the high U.S. statutory corporate tax rate could serve to not only improve the tax system for U.S. corporations, but also achieve the ultimate goal of improving the U.S. economy as a whole. More importantly, mandatory tax of 8% on illiquid assets and 15.5% on cash and cash equivalents should serve to domesticate considerably more corporate earnings. In exploring this topic, the discussion covers the past attempts at stimulating the economy through a tax holiday for repatriated corporate earnings, the current administration's attempt at stimulus through a repatriation tax holiday, and the potential impact of comprehensive tax reforms on the future of U.S. corporations operating abroad under the same U.S. worldwide taxing system in contrast to a territorial system
Citation source
In: Practical tax strategies. - Hoboken. - Vol. 100 (2018), no. 2 ; p. 24-28
http://library.link/vocab/creatorName
  • Lloyd, C.B
  • Shroff, A.A
  • Yancy, A
Geographic coverage
  • International
  • North America
Language note
English
http://library.link/vocab/subjectName
  • repatriation
  • tax holiday
  • tax reform
  • worldwide income
  • territoriality principle
Label
Repatriation of foreign earnings : a lesson from past efforts
Instantiates
Publication
Label
Repatriation of foreign earnings : a lesson from past efforts
Publication

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