Following the financial crisis and ensuing austerity, politicians discovered the problem of tax avoidance. In response, the OECD and G20 launched the Base Erosion and Profit Shifting (BEPS) project in 2013, and this has in October, 2015 culminated with the release of a series of action steps...

This article will address the question whether publicly traded US corporations owe a duty to their shareholders to minimize their corporate tax burden in any way that they may be able to get away with from a purely legal perspective. First, however, to render the subsequent discussion a bit more...

Section 877A was enacted in 2008 to impose a significant price on US citizens who expatriate. But the price was not right. The quarterly data on expatriations (published in the Federal Register since 1998) show an increasing trend since 2008. For example, 3,422 Americans expatriated in 2022, and...

This paper performs a forensic analysis of Microsoft Corporation’s transfer pricing cost sharing arrangement based on forensic economic analysis of public and information, including Microsoft’s SEC and foreign country regulatory filings, documents disclosed during a recent federal court...

The global corporate minimum tax (GLoBE) as embodied in Pillar 2 of the OECD/IF BEPS 2.0 proposal was set in October 2021 at 15% of the financial statement income of within scope MNEs. That is also the rate and the base of the new US corporate alternative minimum tax (CAMT). The Single Tax...

US critics of Pillar 2 of the OECD BEPS 2.0 project have focused on the impact of the UTPR on tax credits such as the ones included in the Inflation Reduction Act and the CHIPS Act. In fact, those credits are unlikely to be affected because they are refundable. But this raises the broader...

In a recent article in the Canadian Tax Journal, it has been argued that a country that applies pillar 2 of BEPS 2.0 to a subsidiary or permanent establishment of a multinational within it could trigger an investment arbitration under a bilateral investment treaty with the home country of the...

In 1993, I published a paper advocating a destination-based corporate income tax (DBCT) (Avi-Yonah, 1993). Under DBCT, multinational enterprises (MNEs) would be treated as unitary businesses and taxed based on where they sell their goods or services, i.e., on a destination basis rather than (as...

Any proposal for adoption of a unitary tax (UT) system ought to clear the first and most common hurdle of its compatibility, or lack of it, with the current norms in the international tax system – specifically, the current tax treaty network. This paper argues that unitary taxation is...