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1 Kyle Pomerleau & Kari Jahnsen, Designing a Territorial Tax System: A Review of OECD Systems 1 (2017)

handle is hein.taxfoundation/detrxsy0001 and id is 1 raw text is: FISCAL FACT No. 554 Jul. 2017 The Tax Foundation is the nation's leading independent tax policy research organization. Since 1937, our research, analysis, and experts have informed smarter tax policy at the federal, state, and local levels. We are a 501(c)(3) non-profit organization. 02017 Tax Foundation Distributed under Creative Commons CC-BY NC 4.0 Editor, Rachel Shuster Designer, Dan Carvajal Tax Foundation 1325 G Street, NW, Suite 950 Washington, DC 20005 August 16th Update: Additional information on each country's profit shifting rules has been added to the body of the text and the appendix. Designing a Territorial Tax System: A Review of OECD Systems Kyle Pomerleau Kari Jahnsen Director of Federal Projects Research Assistant Key Findings * A central goal of corporate tax reform is to fix the U.S.'s system for taxing the foreign profits of domestic businesses. * Many lawmakers have sought to reform the corporate tax by moving to a territorial tax system, which would exempt foreign profits of U.S. multinational businesses from domestic taxation. * Over the past 30 years, the vast majority of America's largest trading partners have moved to territorial tax systems. * The territorial tax systems throughout the 35 member nations of the Organisation for Economic Cooperation and Development (OECD) vary substantially in scope and design. * All OECD countries with territorial tax systems have designed provisions that seek to prevent base erosion and profit shifting by multinational corporations. * Designing a territorial tax system requires balancing competing goals: completely exempting foreign business activity from domestic taxation, protecting the domestic corporate tax base, and a simple system. A system can generally only choose up to two of these. * Moving to a territorial tax system would improve the U.S. corporate tax system. However, corporate taxation is inherently complex and lawmakers will need to carefully consider how to structure a territorial tax system for the United States. 202.464.6200 taxfoundation.org

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