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Saturday, April 25, 2009

International Tax Reform - Tax Havens and More

Much of the recent attention on international tax reform is centered around tax havens. Recently, there have been a few congressional hearings and mention in President Obama's budget proposal.

Tax havens have been a concern for over 50 years - why? TIGTA estimates that the $345 billion annual tax gap doesn't sufficiently report the international tax gap. Corporate tax rates in most OECD countries have dropped in recent years, making the US rate one of the highest - doesn't that adversely affect competitiveness of US firms?

What should the US income tax rules for international activities look like to eliminate or reduce longstanding issues that are harming the economy and why is it taking so long to bring our income tax into the 21st century global business environment we operate into today?

I've got a short article on current international tax reform activities with links and the need to stop studying, use the gathered information and to move to action.

What do you think?

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