| 000 | 02701nab a2200337 c 4500 | ||
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| 003 | ES-MaIEF | ||
| 005 | 20190822140246.0 | ||
| 007 | ta | ||
| 008 | 190822s2019 us ||||| |||| 00| 0|eng d | ||
| 040 |
_aES-MaIEF _bspa _cES-MaIEF |
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| 041 | _aeng | ||
| 100 | 1 |
_962444 _aYang, James G. S. |
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| 245 | 0 |
_aHas the United States really changed from a worldwide to a territorial tax system ? _c James G. S. Yang, Richard A. Lord and Yoshie Saito |
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| 260 | _c2019 | ||
| 500 | _aDisponible también en formato electrónico en la Biblioteca del IEF. | ||
| 500 | _aResumen. | ||
| 520 | _aThe Tax Cuts and Jobs Act of 2017 (TCJA) made significant alterations to United States tax policy. It replaced the progressive corporate tax code, which had a top rate of 35 percent, with a flat tax of 21 percent. This brings American corporate tax structure more into line with other developed economies. It also supposedly changed the U.S. system from a “worldwide tax system” to a “territorial tax system.” This change was prompted by the many ill effects that arose under the worldwide system, such as shifting income from one country to another, and corporate inversions. This article describes the advantages of a territorial tax system (tax-free treatment of foreign-source income will do a great deal to encourage the repatriation of dividends to the U.S.) and discusses the treatment of earnings and profits (E&P) accumulated in previous years, and E&P earned after the implementation of the new system. The TCJA treats accumulated E&P differently depending on whether the E&P is held in the form of a cash position or non-cash position. The authors provide an example to demonstrate how the tax liability is determined for the various types of earnings. Under the TCJA, the current earnings repatriated to the U.S. as dividends are not taxed, but a capital gains tax is levied on the undistributed E&P at the time of disposition of the investment. Therefore, in the authors’ view, the U.S. has not completely changed from a worldwide tax system to a pure territorial tax system. | ||
| 650 | 4 |
_948454 _aSOCIEDADES |
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| 650 | 4 |
_aIMPUESTOS _947460 |
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| 650 | 4 |
_aREFORMA _910750 |
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| 650 | 4 |
_aGRAVAMEN _945080 |
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| 650 | 4 |
_aREDUCCIONES TRIBUTARIAS _948221 |
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| 650 | 4 |
_aRENTAS EXTRANJERAS _948268 |
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| 650 | 4 |
_aDIVIDENDOS _942810 |
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| 650 |
_aESTADOS UNIDOS _942888 |
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| 700 | 1 |
_967446 _aLord, Richard A. |
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| 700 | 1 |
_967447 _aSaito, Yoshie |
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| 773 | 0 |
_9160915 _oOP 235/2019/4 _tJournal of Taxation of Investments _w(IEF)51921 _x 0747-9115 _g v. 36, n. 4, Summer 2019, p. 69-83 |
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| 856 | _uhttps://www.civicresearchinstitute.com/online/PDF/JTI-3604-05-Territorial.pdf | ||
| 942 | _cART | ||
| 999 |
_c141044 _d141044 |
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