41 N.C. J. Int'l L. 595 (2015-2016)
Avoiding Double Taxation and Expatriation: A Comprehensive Solution to FATCA and Corporate Inversion

handle is hein.journals/ncjint41 and id is 613 raw text is: 






    Avoiding  Double   Taxation  and  Expatriation:  A
  Comprehensive Solution to FATCA and Corporate
                        Inversion

                     Michael B. Cohent


I.   Introduction: A Scenario ..............    ..... 596
II.  FATCA         .........................   ......604
     A. Background of Global Citizenship Taxation........604
     B. Double Taxation and Its Solutions: Exclusions,
         Foreign Tax Credits, and Income Tax Treaties ..607
         1. Foreign Tax Credits ....................607
         2. Section 911 Exclusions....     ...........609
         3. Income Tax Treaties......................610
      C. The Necessity, Enactment, and Effects of
         FATCA      ...............................611
         1. Wh  Was FATCA   Enacted?...........................611
         2. FATCA's Main  Provisions.............................614
         3. FATCA's International Implementation and
            Enforcement Mechanisms ............................. 617
         4. Effects of FATCA (Strengths and
            W eaknesses) ..................................................620
     D. Proposals............................624
         1. Keep Global Taxation, But Modify FATCA.. 624
         2. Only Tax Based on Residency, Not
            C itizenship  ..................................................... 627
III. Corporate Inversion   .................    ...... 628
     A. Background of the Issue ............    .....628
         1. How It Came to This Point-U.S. Worldwide
            Taxation..........................629
     B. Relevant Structure of the United States' Version of
         the W orldwide Approach....................................630
         1. Double Taxation and Foreign Tax Credits......630
         2. Foreign Income Deferral.................................633
     C. The Ideal Corporate Taxpayer Solution to the
         Worldwide Approach: Corporate Inversion .......634


t J.D. Candidate 2016, University of North Carolina School of Law. Senior Staff Editor,
North Carolina Journal ofInternational Law.

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