WSJ and CNBC’s Erin Burnett point out U.S. has higher corporate tax rates than other countries.
President Obama held a press conference on May 4 to detail a “far-reaching crackdown on offshore tax avoidance, targeting many U.S.-based multinational corporations and wealthy individuals,” according to The Wall Street Journal.
The Journal said on May 4 that Obama would like to change the way offshore subsidiaries are treated by law ending practices known as “deferral” and “check-the-box.”
“The plan takes aim at a range of financial practices that have combined to erode the U.S. tax base in recent decades. As money has become more readily transferable – and aggressive tax planning more widespread – it has become easier for companies and individuals to take advantage of low taxes as well as lack of transparency in many offshore havens,” the Journal said.
No comments:
Post a Comment