| Author (Corporate) | United States: Department of the Treasury |
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| Publisher | United States: Department of the Treasury |
| Publication Date | August 2016 |
| Content Type | Policy-making, Report |
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On the 24 August 2016 the US Department of the Treasury published a White Paper on 'The European Commission's recent state aid investigations of transfer pricing rulings'. This was seen as pre-empting an announcement expected in September 2016 by the European Commission. The US Treasury said that tax avoidance by multinational corporations was a serious concern for the United States and governments around the world. President Obama had proposed a robust tax reform plan that would address this issue and had repeatedly urged Congress to enact it into law. Moreover, the US had made important progress by working with international counterparts on a number of initiatives — most notably the G-20/OECD Base Erosion and Profit Shifting (BEPS) project — to curtail the erosion of our respective corporate tax bases. The Treasury was concerned that the European Commission’s State aid investigations threatened to undermine progress in this area and could create an unfortunate international tax policy precedent. |
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| Source Link | Link to Main Source https://www.treasury.gov/resource-center/tax-policy/treaties/Documents/White-Paper-State-Aid.pdf |
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| Subject Categories | Internal Markets, Taxation |
| Countries / Regions | Europe, United States |
