The recently unveiled international tax provisions of the Build Back Better Act (BBB) represent a reasonable compromise. They are consistent with the OECD’s Pillar Two statement, and they represent a significant move toward the implementation of the single tax principle (STP). In what follows,...

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...

International tax law has traditionally been built upon bilateral treaties and unilateral actions, while trade law has traditionally been multilateral and international investment law has been bilateral but with Most Favored Nation (MFN) clauses that render it effectively multilateral. This...

In recent months, there has been a sharp increase in criticism leveled in the US against Pillar 2 of the G20/OECD BEPS 2.0 effort. Specifically, it has been argued that Pillar 2 (and especially the UTPR) is inconsistent with US tax treaties, that Pillar 2 is not needed to address profit...

This Article describes the transformations underwent by the corporate form from its Roman origins to the present. It shows that every time there was a shift in the role of the corporation, three theories of the corporation (the aggregate, artificial, and real entity theories) were brought...

Professors Reuven S. Avi-Yonah, David Gamage, Orly Mazur, Young Ran (Christine) Kim, and Darien Shanske (collectively, “Tax Law Professors”) write this amici curiae brief in support of the Appellant in COMPTROLLER OF MARYLAND v. COMCAST — the Maryland Digital Advertising Case. Many digital...

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...