This is an update on the Paycheck Protection Program which is part of the Small Business Interruption Loan Program within the recently passed CARES Act. CPA members with 500 or less employees can start applying as of last Friday, April 3. You can start applying through your local bank. We understand that some banks are…
Editor’s Note: Adopt Sales Factor Apportionment taxation and this tax litigation becomes irrelevant. Because internal profit shifting becomes irrelevant. Simply tax MNC global profit in proportion to sales occurring in US. Ignore subsidiaries. Government challenges social-media giant’s transactions with its Irish subsidiary [Richard Rubin | February 8, 2020 | WSJ] Facebook Inc. FB 0.03% and the…
Excerpt: Digital companies aren’t the only ones avoiding corporate taxes. Plenty of foreign multinationals that sell in the U.S. are also shifting profits through tax havens… Over the past few months, a number of countries have been planning to impose new taxes on U.S. tech companies like Google, Facebook and Amazon. France in particular has aimed…
After an initial review of the various 2020 Democratic presidential contenders’ tax proposals, the CPA tax committee noted a lack of progress on corporate tax reform. Committee members subsequently voted on the remaining corporate tax proposals. By David Morse, Tax Policy Director The Coalition for a Prosperous America (CPA) believes corporate tax reform should stop…
Editor’s note: The massive phantom foreign direct investment described in this article shows why CPA’s proposal for sales factor apportionment is needed for the US tax system. If companies were taxed, as we propose, on profits from sales in the US, shifting their profits to shell companies other countries would no longer benefit them. Empty…
Editors note: Another reason sales factor apportionment tax is needed. Capital flows for tax avoidance and profit shifting purposes should not exist. Tax profits based upon destination of sales rather than origin of income, which is manipulated. Study into global FDI finds nearly 40% of flows used as vehicle for financial engineering [Martin Sandbu |…
Among the various Democratic presidential contenders, there are a number of proposals for corporate tax reform. After reviewing all the candidates’ plans, we’ve identified the ‘Top 5 Democratic Tax Reform Proposals.’ By David Morse, Tax Policy Director The Coalition for a Prosperous America (CPA) believes corporate tax reform should stop discrimination against domestic companies versus…
By David Morse, Tax Policy Director The US and domestic companies should be alarmed by China’s desire to preserve corporate tax avoidance strategies in the world. Many countries have had enough of corporate tax avoidance, and the Organization for Economic Cooperation and Development (OECD) is currently considering solutions to restrict or end such practices. China…
By David Morse, Tax Policy Associate Director Law 360 reported this week that US Treasury officials believe multinational companies should anticipate new formulas as a part of future taxation. This is good news for companies producing in America who are tired of paying higher tax rates than many multinational enterprises (MNE). The Organization for Economic Cooperation…
By David Morse, Tax Policy Associate Director “There is not going to be a return to a golden age of tax, this is about change,” declared Will Morris, chair of the Business and Industry Advisory Committee to the OECD’s Committee on Taxation and Fiscal Policy. At the recent historic OECD public consultation meeting on taxing…
