Executive Summary Introduction The Organization for Economic Co-operation and Development (OECD) proposed a two-pillar international taxation agreement aimed at taxing digital companies and reducing profit shifting. Pillar two aims to create a minimum international corporate tax of 15% on multinational companies that bring in revenue of over €750m a year ($810 million). This tax can … Continue reading
Category Archives: Tax
The OECD and UN International Tax Proposals
Executive Summary Introduction The Orginisation for Economic Co-operation and Development (OECD) has proposed and revised an international tax agreement that contains two pillars. Pillar one aims to reallocate taxation of digital multinational companies and multinational companies with intangible assets. Pillar two aims to impose a minimum global tax on multi-national companies, while preventing double taxation. … Continue reading
Economy / Fiscal policy / Tax / Taxes
Tax Cut-Implications for Behavioral Economics
Richard H. Thaler, professor of behavioral science and economics at the University of Chicago, won the Nobel Prize in Economic Sciences this year “for his contributions to behavioral economics.” This is a relatively new field that combines the idea of psychology and economics. Standard economic models assume that humans are rational actors. However, behavioral economists … Continue reading
Why the Founding Fathers Would Dislike “Obamacare”
Among the many popular topics of the 2016 presidential campaigns, healthcare remains a timeless defining issue sparking vivid debate on both sides of the political spectrum. In the 2016 presidential campaign, the Affordable Care Act (ACA) – commonly referred to as “Obamacare” – has become the privileged scapegoat. However, beyond the political contention, an aspect … Continue reading
Labor Force / Politics / Tax
EITC: Improvement Not Disruption
For years, there has been concern over stagnant wages, unemployment, and the persistence of poverty across the United States. Many different remedies have been proposed, and at times implemented, in an effort to improve the U.S. labor market. One of the solutions most vehemently advocated for is the increase of the minimum wage, both on … Continue reading
Economy / Fiscal policy / Tax / Taxes
Zig-Zug: Fixing America’s Crooked Tax System
If you ask the mayor of Zug, a tiny Swiss suburb, what his town’s population is, he would likely give you the official estimate of 27,000. But a quick dive into Switzerland’s most recent census report reveals that Zug is also home to over 30,000 businesses. This means one of two things. Either each of … Continue reading
Economy / Environment / Fiscal policy / Tax / Taxes
Exchanging Trash for Treasure
The Michigan state government recently stumbled across a startling statistic. Over the past decade its revenue streams were $8-10 million below what it expected. The cause? Residents of nearby states have been smuggling millions of bottles and cans into Michigan, taking advantage of its nation-leading 10-cent bottle refund. Michigan is one of 10 states nationwide … Continue reading
America / Politics / Presidency / Tax / U.S. Senate
Hatch Contends Dynamic Scoring no Magic Elixir
The GOP’s brawl against Obama’s executive actions persists with new postulations made by a Republican leader on Sunday pushing for a government shutdown to prevent Obama from addressing immigration policy with executive order. Despite this individual’s propping open the idea, numerous other Republicans objected to a government shutdown. Oklahoma GOP Representative Tom Cole raised concerns … Continue reading
Politics / Regulation / Tax / U.S. Senate
$15 Billion Tax Prevented by PIFTA
If the Senate opts in for H.R. 3086, the Permanent Internet Tax Freedom Act (PIFTA), $14.7 billion in taxes will be averted every year. During the Internet boom of the 1990s, Congress passed the Internet Tax Freedom Act (IFTA), which prevented state and local governments from collecting Internet specific taxes. Sponsored by Senate Finance Committee … Continue reading
Economy / Regulation / Tax / Taxes
U.S. Businesses Dodging Taxes? IRS Pulls Reins Tighter
The Internal Revenue Service (IRS) and the U.S. Department of Treasury issued a Notice (Notice 2014-52) last Monday that would further their efforts to prevent U.S. companies from using an increasingly prevalent tactic known as inversion to lower their tax bill. Conventionally, an inversion is a negotiation in which a U.S. multinational company restructures with a foreign … Continue reading
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