Download or read book Controlled Foreign Company Legislation written by Organisation for Economic Co-operation and Development and published by OECD. This book was released on 1996 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: A descriptive report providing factual information on controlled foreign company legislation as of June 1995 in the 14 OECD member countries that operated such regimes.

Download or read book Controlled Foreign Companies written by Lee Burns and published by . This book was released on 1992 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an explanation of Australia's CFC rules. It places the legislation in context, provides a framework for analysing problems and describes the new regime in detail.

Download or read book Tax Treaties and Controlled Foreign Company Legislation Pushing the Boundaries written by Daniel Sandler and published by Kluwer Law International B.V.. This book was released on 1998-07-29 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: In-depth analysis of the potential conflict between CFC legislation and tax treaties. The book also evaluates the potential conflict between the CFC legislation, found in European Union countries, and the EC Treaty.

Download or read book OECD G20 Base Erosion and Profit Shifting Project Designing Effective Controlled Foreign Company Rules Action 3 2015 Final Report written by OECD and published by OECD Publishing. This book was released on 2015-10-05 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing base erosion and profit shifting (BEPS) is a key priority of governments. In 2013, OECD and G20 countries, working together on an equal footing, adopted a 15-point Action Plan to address BEPS. This publication is the final report for Action 3.

Download or read book CFCs general Overview written by Lowell D. Yoder and published by . This book was released on 2010-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "Describes the general rules for U.S. income taxation of United States shareholders of controlled foreign corporations (CFCs) under Subpart F. It begins with a discussion of the background and legislative history of Subpart F. A detailed analysis is provided of the ownership tests that must be satisfied for Subpart F to apply, including such key terms as "controlled foreign corporation," "United States person," and "United States shareholder." This portfolio also describes the categories of items included in U.S. shareholders' income under Subpart F, and the rules for determining the amounts includible in income and the U.S. tax treatment. It further provides an overview of the tax results to U.S. shareholders of various transactions involving CFCs, including the organization and reorganization of a CFC, CFC distributions, and liquidations and dispositions of CFCs. Finally, it describes the rules coordinating Subpart F with other special rules that apply to foreign entities and summarizes the return and compliance rules that apply to CFCs."

Download or read book Controlled Foreign Companies CFCs written by Great Britain. Board of Inland Revenue and published by . This book was released on 2005 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Controlled Foreign Corporations as Fiscally Transparent Entities written by Daniele Canè and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controlled foreign corporation rules are a fundamental piece of the international tax regime. They preserve national tax bases from erosion and profit shifting, counteract tax deferral and implement capital export neutrality policies. However, the application of these rules should be coordinated at treaty level, which would also serve to avoid undesirable policy effects. The legal framework of tax treaties, as integrated by the Multilateral Convention (MLI), is now ready to support such a coordinated application of CFC rules. The new set of provisions for transparent entities can be used to this end, on the assumption that certain CFCs should also be treated as transparent entities. Indeed, CFC rules patterned after the transparency approach produce effects and involve problems comparable to transparent partnerships. This article elaborates on some of these problems and illustrates how the new provisions dedicated to transparent entities interact with each other and allow a balanced application of treaties to CFCs as well.Full-text Paper.

Download or read book Controlled Foreign Corporations as Fiscally Transparent Entities the Application of CFC Rules in Tax Treaties written by D. Canè and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Controlled foreign corporation rules are a fundamental piece of the international tax regime. They preserve national tax bases from erosion and profit shifting, counteract tax deferral and implement capital export neutrality policies. However, the application of these rules should be coordinated at treaty level, which would also serve to avoid undesirable policy effects. The legal framework of tax treaties, as integrated by the Multilateral Convention (MLI), is now ready to support such a coordinated application of CFC rules. The new set of provisions for transparent entities can be used to this end, on the assumption that certain CFCs should also be treated as transparent entities. Indeed, CFC rules patterned after the transparency approach produce effects and involve problems comparable to transparent partnerships. This article elaborates on some of these problems and illustrates how the new provisions dedicated to transparent entities interact with each other and allow a balanced application of treaties to CFCs as well.

Download or read book CFCs investment of Earnings in United States Property written by Philip Fried (Lawyer) and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "...analyzes the U.S. income tax consequences under §956 of the Internal Revenue Code of investments of earnings and profits by controlled foreign corporations in United States property. This Portfolio discusses the circumstances under which such investments may result in the taxation to the company's U.S. shareholders of a portion of the company's earnings and profits, and it explains the rules governing the computation of such income inclusion. It describes the possibility of unexpected results from the operation of the §956 rules, and it suggests planning possibilities to avoid pitfalls. Among the matters discussed are the definition of the term "United States property" and the exceptions thereto; calculations of the amount of a controlled foreign corporation's earnings and profits invested in United States property and the effect of distributions on such calculations; special rules regarding the taxation of U.S. shareholders, including the applicable foreign tax credit rules; and tax planning opportunities."

Download or read book Controlled Foreign Company Legislation written by Georg Kofler (Professor of tax law at the University of Linz.) and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Evolution of Controlled Foreign Corporation Rules and Beyond written by B.J. Arnold and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This article traces the evolution of controlled foreign corporation (CFC) rules, including their compatibility with treaty provisions. It argues that CFC rules would be preferable to the Inclusive Framework proposal on the OECD/G20 Base Erosion and Profit Shifting Project (Pillar Two) for a uniform minimum tax on all CFC income.

Download or read book Controlled Foreign Companies Selected Policy Issues Or the Missing Elements of BEPS Action 3 and the Anti Tax Avoidance Directive written by D.W. Blum and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This article deals with CFC rules. The author states that the discussion of controlled foreign corporations (CFCs) in both the Final Report on Action 3 of the OECD's Base Erosion and Profit Shifting Project and the Anti-Tax Avoidance Directive (ATAD) has failed to address some high-level policy questions that are worth considering in more detail. Depending on the scope of the tax system (worldwide vs. territorial) and the means by which double taxation is avoided (credit vs. exemption), the crucial policy questions revolve around the issue as to which tax base should be protected and in which capacity (i.e. as the residence state or the source state). Moreover, the question as to whether deferral and income diversion should be curtailed as a matter of principle or only if the deferred/diverted income is low taxed in the state of residence of the CFC must be answered. On an operational level, the means by which income is included require careful assessment. Depending on whether a CFC regime pierces the CFC's corporate veil or applies a deemed dividend approach, the interaction with both the relevant distributive rules and - in case of EU Member States - the EU Fundamental Freedoms, potentially limit the scope of a CFC regime. By tracing back the underlying structural tensions inherent in domestic corporate tax laws and highlighting the policy choices that legislators face along the way to enact coherent CFC regimes that counter both tax deferral and income diversion while respecting the existing network of rules governing the allocation of taxing rights in cross-border situations, this article facilitates a principled discussion and, thus, helps to overcome the widespread BEPS fallacy of accepting the technical outcomes of the BEPS project without questioning the underlying principles.

Download or read book Profit Shifting Controlled Foreign Corporation Rules the Thin Bridge Between Corporate Tax Systems written by Axel Prettl and published by . This book was released on 2018 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: At present, controlled foreign corporation (CFC) rules are one of the three main anti-tax avoidance laws in developed countries. This paper examines the different CFC rule settings in the OECD and additional countries to show their effects on profit shifting of multinational companies. Using a unique CFC law panel data set for 70 parent countries over 11 years and micro level firm data for over 260,000 companies worldwide, I show that CFC rules lead to up to 19.1% less financial income in foreign low-tax subsidiaries. CFC rules are made up of many distinct characteristics which this study shines light on in order to better understand these laws and their influence on multinational profit shifting. Using bunching at one of the thresholds due to tax avoidance strategies, I calculate shifted profits into foreign low-tax subsidiaries of around 11.67 billion USD as a conservative estimate over the observed time frame. Based on my findings, CFC rules seem to (1) constitute a bridge for territorial tax system countries to counteract profit shifting of multinationals, (2) draw a bottom line for this firm behavior and (3) tax parts of foreign income in a purpose-built way.

Download or read book Controlled Foreign Corporations written by Frank Stockmann and published by . This book was released on 2001 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book CFCs Foreign Base Company Income other Than FPHCI written by Lowell D. Yoder and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "...provides a detailed analysis of two of the three categories of foreign base company income: foreign base company sales income and foreign base company services income. It also analyzes foreign base company shipping income, which was a category of foreign base company income until its repeal by the American Jobs Creation Act of 2004, and foreign base company oil related income, which was a category of foreign base company income until its repeal by "An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018." The exceptions to these categories and special rules relating thereto are also discussed in detail, including the de minimis rule, full-inclusion rule, and high-tax exception. Moreover, the application of the foreign base company income rules to partnerships with CFC partners is analyzed. The third category of foreign base company income is foreign personal holding company income (including dividends, interest, related-person factoring income, rents, royalties, annuities, commodities gains, foreign currency gains, and other income). This category of foreign base company income is discussed and analyzed in relation to the other categories of foreign base company income. Foreign personal holding company income is analyzed in detail in 6220 T.M., CFCs -- Foreign Personal Holding Company Income."

Download or read book CFCs sections 959 965 and 1248 written by William R. Skinner and published by . This book was released on with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: ... describes the various rules that apply to the repatriation of the earnings and profits of a controlled foreign corporation (CFC) under subpart F of the Internal Revenue Code. Subpart F, including the global intangible low-taxed income (GILTI) rules of [section] 951A, is designed to tax the U.S. shareholder of a CFC on the shareholder's pro rata share of the corporation's subpart F income and GILTI, even when that income remains in corporate solution. In order to avoid double taxation of subpart F income or GILTI when it is repatriated to the shareholder, subpart F contains a number of provisions dealing with previously taxed earnings and profits, adjustments to the basis of CFC stock, the foreign tax credit, and disposition of stock in a CFC. This Portfolio provides a detailed discussion of those provisions.

Download or read book International Taxation of Banking written by John Abrahamson and published by Kluwer Law International B.V.. This book was released on 2020-02-20 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banking is an increasingly global business, with a complex network of international transactions within multinational groups and with international customers. This book provides a thorough, practical analysis of international taxation issues as they affect the banking industry. Thoroughly explaining banking’s significant benefits and risks and its taxable activities, the book’s broad scope examines such issues as the following: taxation of dividends and branch profits derived from other countries; transfer pricing and branch profit attribution; taxation of global trading activities; tax risk management; provision of services and intangible property within multinational groups; taxation treatment of research and development expenses; availability of tax incentives such as patent box tax regimes; swaps and other derivatives; loan provisions and debt restructuring; financial technology (FinTech); group treasury, interest flows, and thin capitalisation; tax havens and controlled foreign companies; and taxation policy developments and trends. Case studies show how international tax analysis can be applied to specific examples. The Organisation for Economic Co-operation and Development Base Erosion and Profit Shifting (OECD BEPS) measures and how they apply to banking taxation are discussed. The related provisions of the OECD Model Tax Convention are analysed in detail. The banking industry is characterised by rapid change, including increased diversification with new banking products and services, and the increasing significance of activities such as shadow banking outside current regulatory regimes. For all these reasons and more, this book will prove to be an invaluable springboard for problem solving and mastering international taxation issues arising from banking. The book will be welcomed by corporate counsel, banking law practitioners, and all professionals, officials, and academics concerned with finance and its tax ramifications.