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Institute for Workplace Studies-----------------Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor--------------------Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

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Congressional Research Service (CRS)

 

U.S. International Corporate Taxation: Basic Concepts and Policy Issues

Mark P. Keightley, Analyst in Public Finance

Jeffrey M. Stupak, Research Assistant

December 2, 2014

https://www.fas.org/sgp/crs/misc/R41852.pdf

[full-text, 11 pages]

 

[excerpt]

This report provides a general introduction to the basic concepts and issues relevant to the U.S.

international corporate tax system. The explanations provided in this report emphasize the

underlying concepts of the international tax system and are intended to be as simplified as

possible. There are of course important and complex technical details that would need to be

considered carefully if reform of the current system were to be implemented effectively and

efficiently. These important technical details, however, are beyond the scope of this report. Where

appropriate, references to other CRS products are provided within the report. A list of related

CRS products and other suggested readings on international corporate taxation may also be found

at the end of the report.

 

Contents

Introduction ...................................................................................................................................... 1

Worldwide Versus Territorial Taxation ............................................................................................ 1

Deferral, Subpart F Income, and Active Financing ......................................................................... 2

The Foreign Tax Credit .................................................................................................................... 3

Cross-Crediting ................................................................................................................................ 4

Profit Shifting .................................................................................................................................. 5

Base Erosion and Profit Shifting (BEPS) Action Plan ..................................................................... 6

Making Tax Rate Comparisons ........................................................................................................ 7

CompetitionVersus Trade ................................................................................................................. 7

Summary and Related Readings ...................................................................................................... 8

Contacts

Author Contact Information............................................................................................................. 9

 

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