With opening of the economy in 1991 and subsequent removal of regulatory and trade barriers, India became an attractive investment (Foreign Direct Investment-FDI) destination. A large number of multinationals have established operations in India to utilise the services of available skilled...

This Comment evaluates four recent proposals to reform tax laws affecting the financial industry. After introducing the proposals, the author provides a theoretical framework for evaluating them and then relies on this framework to explore the benefits and drawbacks of each. Ultimately, the...

This paper assesses the extent to which the disaggregated book-tax differences (BTDs) detailed in the tax footnote are associated with earnings persistence and growth, and the extent to which these associations matter to investors. Using hand-collected data from the schedule of deferred tax...

The Government of India submitted the ‘Direct Taxes Code' Bill, 2010 the Parliament in August, 2010. The Code, expected to come into force from the next financial year i.e. 1st April 2012, is not just a regular amendment but replaces all the existing direct tax laws in India. The drafters have...

The debate rages on about how to tax private equity fund managers and hedge fund managers who, as part of their compensation, receive rights to share in fund profits (“carried interests”). Commentators have paid relatively little attention, however, to the impact that proposals to change the...

U.S.-based multinational corporations are calling for a tax holiday that would allow them to repatriate their foreign earnings at little tax cost. With over $1 trillion in earnings trapped offshore and untaxed by the U.S., these corporations characterize the proposed repatriation holiday as a...

The Supreme Court's decision to grant certiorari in the PPL case offers it a unique opportunity to change the law regarding foreign tax credits that has significantly impeded the ability of other countries to engage in meaningful tax reform. In 1938, the Court said in dicta that to qualify for...

In 1996 the Commonwealth Government embarked on a campaign to helping Australia's 860,000 small businesses from the constraints of crippling taxes and red tape with the establishment of the Small Business Deregulation Taskforce. Notwithstanding the efforts of the taskforce the income tax laws...

Australia's taxation policies appear to have had a profound influence on the level of community trust and ethical conduct, or its ‘social capital'. This paper firstly considers the relationship between tax policy and social capital. Secondly, a quick review of the history of Australian...

This article examines the tax policy implications of imposing an intellectual property box (“IP Box”) regime in the United States and proposes that amid various tax policy considerations, inter alia, efficiencies, fairness, and administrability, the United States should institute an...