Center for Freedom and Prosperity
For Immediate Release
Tuesday, January 17, 2012
202-285-0244
www.freedomandprosperity.org
CF&P Briefs International Businesses on
Threats to Tax Competition
(Scrub Island, British Virgin Islands Tuesday, January 17, 2012) The Center for Freedom and Prosperity (CF&P) is participating Wednesday in a conference in the British Virgin Islands, where Dan Mitchell and Brian Garst will outline growing threats to international tax competition and business. The BVI Business Outlook Conference will be held Wednesday, January 18 at Scrub Island Resort in the British Virgin Islands. Dr. Mitchell, a Senior Fellow at the Cato Institute and Chairman of the CF&P Board, is providing the conference’s closing address, while both Dan Mitchell and Brian Garst, Director of Government Affairs at CF&P, will be participating in a panel discussion that afternoon. They will be available for interviews while in the British Virgin Islands.
Link to conference website:
http://bvibusinessoutlook.com/outlook/default.aspx
Threats faced by international businesses include: the growing assault on tax competition by the Organization for Economic Cooperation and Development (OECD) and politicians looking to form a high-tax cartel by undermining the fiscal sovereignty of low-tax jurisdictions; the pending implementation of the Foreign Account Tax Compliance Act (FATCA), a law passed by the US Congress in 2010 which attempts to conscript foreign financial institutions into service as agents of the IRS at considerable cost to both the institutions and the US economy; and a proposed regulation IRS regulation which would threaten financial privacy and reduce the attractiveness of the US to foreign investment.
More information on the OECD:
http://freedomandprosperity.org/issues/oecd-pro-tax-international-bureaucracy/
More information on FATCA:
http://freedomandprosperity.org/issues/foreign-account-tax-compliance-act/
More information on the IRS Regulation:
http://freedomandprosperity.org/issues/irs-information-sharing-regulation/
For additional information:
Dan Mitchell can be reached in BVI at 202-218-4615, dmitchell@cato.org
Brian Garst can be reached in BVI at bgarst@freedomandprosperity.org
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