Recent Legislative Proposals to Curb Erosion of the U.S. Tax Base

International Tax Journal
01.06.15
In this article, Theresa Androff explores two legislative proposals and President Obama's budget proposals aimed at protecting the U.S. tax base and assesses their compatibility with the Organisation for Economic Co-operation and Development's (OECD's) base erosion and profit shifting (BEPS) project. These proposals emerged in response to concerns regarding the shifting of profits out of the U.S. tax base and recent international developments. "International tax reform, in particular, has been thrust to the center of public debate in the United States, due partly to changes in the global economy, but also as a reflection of an emerging international focus on base erosion and profit shifting," Androff said, adding that the proposals signal apparent momentum behind U.S. international tax reform and a consensus that base erosion is a significant concern to be addressed in any international tax reform proposal.
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Recent Legislative Proposals to Curb Erosion of the U.S. Tax Base