Tax Havens And Their Use By United States Taxpayers An Overview

Author : Richard A. Gordon
Publisher : The Minerva Group, Inc.
ISBN 13 : 089499137X
Total Pages : 277 pages
Book Rating : 4.70/5 ( download)

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Download or read book Tax Havens and Their Use by United States Taxpayers - An Overview written by Richard A. Gordon and published by The Minerva Group, Inc.. This book was released on 2002-08 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book was written at the request of the Commissioner of Internal Revenue, The Assistant Attorney General (Tax Division), and the Assistant Secretary of the Treasury (Tax Policy).The purpose of this book was to develop an overview of tax havens and the use of tax havens by United States taxpayers. The study sought to determine the frequency and nature of tax haven transactions, identify specific types of tax haven transactions, obtain a description of the United States and foreign legal and regulatory environment in which tax haven transactions are conducted, describe Internal Revenue Service and Justice Department efforts to deal with tax haven related transactions, and to identify interagency coordination problems.The findings are based on a review of judicial decisions and published literature in the field of international tax planning, research into internal IRS documents concerning taxpayer activities, interviews with IRS personnel, personnel who deal with tax haven issues for other Federal government agencies, and lawyers and certified public accountants who specialize in international taxation. The findings are also based on a statistical analysis of available data concerning international banking, United States direct investment abroad, and foreign investment in the United States. While the findings did not uncover all the methods employed to use tax havens, the belief is that the inquiry was extensive enough to give an understanding of the situation and to enable the IRS to develop options which might be useful in improving the administration of the tax laws as they apply to tax havens

Author : Richard A. Gordon
Publisher :
ISBN 13 :
Total Pages : 250 pages
Book Rating : 4.97/5 ( download)

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Download or read book Tax Havens and Their Use by United States Taxpayers written by Richard A. Gordon and published by . This book was released on 1981 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: Overview of tax havens and the use of tax havens by US taxpayers. The study sought to determine the frequency and nature of tax haven transactions, identify specific types of tax haven transactions, obtain a description of the US and foreign legal and regulatory environment in which tax haven transactions are conducted, describe the IRS and Justice Department efforts to deal with tax haven related transactions, and to identify interagency coordination problems.

Author : Richard A. Gordon
Publisher : Forgotten Books
ISBN 13 : 9780331271683
Total Pages : 252 pages
Book Rating : 4.80/5 ( download)

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Download or read book Tax Havens and Their Use by United States Taxpayers written by Richard A. Gordon and published by Forgotten Books. This book was released on 2017-12-03 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Tax Havens and Their Use by United States Taxpayers: An Overview; A Report to the Commissioner of Internal Revenue, the Assistant Attorney General (Tax Division) And the Assistant Secretary of the Treasury (Tax Policy) This study was undertaken at the request of the Commissioner of Internal Revenue, the Assistant Attorney General (tax Division), and the Assistant Secretary of the Treasury (tax Policy). The purpose of the study was to develop an overview of tax havens and the use of tax havens by United States taxpayers. The study sought to determine the frequency and nature of tax haven transactions, identify specific types of tax haven transactions, obtain a description of the united States and foreign legal and regulatory environment in which tax haven transactions are conducted, describe Internal Revenue Service and Justice Department efforts to deal with tax haven related transactions, and to identify interagency coordination problems. Our findings are based on a review of judicial decisions and published literature in the field of international tax planning, research into internal irs documents concerning taxpayer activities, interviews with irs personnel, personnel who deal with tax haven issues for other Federal government agencies, and lawyers and certified public accountants who specialize in international taxation. Our findings are also based on a statistical analysis of available data concerning international banking, United States direct investment abroad, and foreign investment in the United States. While we cannot claim that we uncovered all of the methods employed to use tax havens, we believe that our inquiry was extensive enough to give us an understanding of the situation and to enable us to develop options which might be useful in improving the administration of the tax laws as they apply to tax havens. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Author : Richard A. Gordon
Publisher : Legare Street Press
ISBN 13 : 9781017043365
Total Pages : 0 pages
Book Rating : 4.61/5 ( download)

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Download or read book Tax Havens and Their Use by United States Taxpayers: An Overview: a Report to the Commissioner of Internal Revenue, the Assistant Attorney General (Ta written by Richard A. Gordon and published by Legare Street Press. This book was released on 2022-10-27 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

Author : Richard A. Gordon
Publisher :
ISBN 13 :
Total Pages : 234 pages
Book Rating : 4.26/5 ( download)

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Download or read book Tax Havens and Their Use by United States Taxpayers written by Richard A. Gordon and published by . This book was released on 1981 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Richard a Gordon
Publisher : Nabu Press
ISBN 13 : 9781294460497
Total Pages : 258 pages
Book Rating : 4.98/5 ( download)

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Download or read book Tax Havens and Their Use by United States Taxpayers written by Richard a Gordon and published by Nabu Press. This book was released on 2014-01-05 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book.

Author : Jane Gravelle
Publisher : DIANE Publishing
ISBN 13 : 1437941117
Total Pages : 52 pages
Book Rating : 4.11/5 ( download)

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Download or read book Tax Havens: International Tax Avoidance and Evasion written by Jane Gravelle and published by DIANE Publishing. This book was released on 2009 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Congressional Research Congressional Research Service
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781507734483
Total Pages : 0 pages
Book Rating : 4.84/5 ( download)

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Download or read book Tax Havens written by Congressional Research Congressional Research Service and published by Createspace Independent Publishing Platform. This book was released on 2015-01-15 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing tax evasion and avoidance through use of tax havens has been the subject of a number of proposals in Congress and by the President. Actions by the Organization for Economic Cooperation and Development (OECD) and the G-20 industrialized nations also have addressed this issue. In the 111th Congress, the HIRE Act (P.L. 111-147) included several anti-evasion provisions, and P.L. 111-226 included foreign tax credit provisions directed at perceived abuses by U.S. multinationals. Numerous legislative proposals to address both individual tax evasion and corporate tax avoidance have been advanced. Multinational firms can artificially shift profits from high-tax to low-tax jurisdictions using a variety of techniques, such as shifting debt to high-tax jurisdictions. Because tax on the income of foreign subsidiaries (except for certain passive income) is deferred until income is repatriated (paid to the U.S. parent as a dividend), this income can avoid current U.S. taxes, perhaps indefinitely. The taxation of passive income (called Subpart F income) has been reduced, perhaps significantly, through the use of hybrid entities that are treated differently in different jurisdictions. The use of hybrid entities was greatly expanded by a new regulation (termed check-the-box) introduced in the late 1990s that had unintended consequences for foreign firms. In addition, earnings from income that is taxed often can be shielded by foreign tax credits on other income. On average, very little tax is paid on the foreign source income of U.S. firms. Ample evidence of a significant amount of profit shifting exists, but the revenue cost estimates vary substantially. Evidence also indicates a significant increase in corporate profit shifting over the past several years. Recent estimates suggest losses that may approach, or even exceed, $100 billion per year. Individuals can evade taxes on passive income, such as interest, dividends, and capital gains, by not reporting income earned abroad. In addition, because interest paid to foreign recipients is not taxed, individuals can evade taxes on U.S. source income by setting up shell corporations and trusts in foreign haven countries to channel funds into foreign jurisdictions. There is no general third-party reporting of income as is the case for ordinary passive income earned domestically; the Internal Revenue Service (IRS) relies on qualified intermediaries (QIs). In the past, these institutions certified nationality without revealing the beneficial owners. Estimates of the cost of individual evasion have ranged from $40 billion to $70 billion. The Foreign Account Tax Compliance Act (FATCA; included in the HIRE Act, P.L. 111-147) introduced required information reporting by foreign financial intermediaries and withholding of tax if information is not provided. These provisions became effective only recently, and their consequences are not yet known. Most provisions to address profit shifting by multinational firms would involve changing the tax law: repealing or limiting deferral, limiting the ability of the foreign tax credit to offset income, addressing check-the-box, or even formula apportionment. President Obama's proposals include a proposal to disallow overall deductions and foreign tax credits for deferred income, along with a number of other restrictions. Changes in the law or anti-abuse provisions have also been introduced in broader tax reform proposals. Provisions to address individual evasion include increased information reporting and provisions to increase enforcement, such as shifting the burden of proof to the taxpayer, increased penalties, and increased resources. Individual tax evasion is the main target of the HIRE Act, the proposed Stop Tax Haven Abuse Act, and some other proposals.

Author : United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
Publisher :
ISBN 13 :
Total Pages : 404 pages
Book Rating : 4.04/5 ( download)

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Download or read book Offshore Tax Havens written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight and published by . This book was released on 1979 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Caroline Doggart
Publisher :
ISBN 13 :
Total Pages : 156 pages
Book Rating : 4.39/5 ( download)

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Download or read book Tax Havens and Their Uses written by Caroline Doggart and published by . This book was released on 1981 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: