Tax Competition News
U.K. Stumbles Into Competitive Tax Policy
While a government official frantically points out that “the UK is not a tax haven,” the nation nevertheless is experiencing an investment influx thanks to legal challenges that halted British collection of corporate profits earned overseas. Even when adopted against the will of politicians, good tax policy produces results. http://www.reuters.com/article/2014/06/09/us-britain-usa-tax-insight-idUSKBN0EK0BF20140609
…Meanwhile, the US Exodus Continues
Doug Bandow writes at FEE on the flight of entrepreneurs from onerous US taxes, and what it means for America’s economic vitality. http://www.fee.org/the_freeman/detail/tax-exiles-flee-america
BEPS Facing Obstacles
Mindy Herzfeld reports on obstacles standing in the way of OECD efforts to rewrite international tax rules and destroy tax competition. Noting how US opposition, which was led by CF&P, scuttled the OECD’s Harmful Tax Competition project in the early 2000’s, she suggests the same fate could befall current OECD effort. http://www.taxanalysts.com/taxcom/taxblog.nsf/Permalink/UBEN-9KTM89?OpenDocument
FATCA Updates
Not Just Americans in the Crosshairs
iExpats reports that it’s not just Americans who should be worried about FATCA. Thousands of non-US customers are likely to see their information caught in the FATCA net. http://www.iexpats.com/fatca-just-worry-american-investors/
Another One Bites the Dust
Russia’s No. 2 Bank is closing its doors to US clients. http://sptimes.ru/index_bp.php?action_id=2&story_id=40057§ion=70
Cause for Distrust
Continued revelations about the improper use and sharing of private taxpayer data should give pause to those seeking to entrust the world’s financial information with the IRS. http://www.politico.com/story/2014/06/issa-alleges-irs-data-dump-to-fbi-illegal-107609.html
From the Market Center Blog…
Income Inequality and Guilt-Ridden Leftists
Data reveals that states with the most inequality are those with leftist tax systems. http://freedomandprosperity.org/2014/blog/income-inequality-and-guilt-ridden-leftists/
Time to End Export-Import Bank Cronyism
CF&P continues to work with coalition partners to end government handouts for politically connected big businesses. http://freedomandprosperity.org/2014/blog/big-government/time-to-end-export-import-bank-cronyism/
Be Thankful for Capitalism and Rich Entrepreneurs
They deserve our thanks, but are perversely the most maligned group in Western society. http://freedomandprosperity.org/2014/blog/be-thankful-for-capitalism-and-rich-entrepreneurs/
