A Treasury blog posting (August 24, 2016) notes that the United States has been working with international counterparts on a number of initiatives—e.g., the G-20 / OECD’s base erosion and profit shifting (BEPS) project—to curtail the erosion of the corporate tax bases.
Treasury today released a white paper [PDF 151 KB] outlining the concerns with the EC’s approach. The white paper:
Today’s Treasury blog posting concludes:
“A strongly preferred and mutually beneficial outcome would be a return to the system of international tax cooperation that has long fostered cross-border investment between the United States and EU Member States. The U.S. Treasury Department remains ready and willing to look for a path forward that achieves the shared objective of preventing the continued erosion of the corporate tax base while ensuring our international tax system is fair for all.”
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