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by ringtail
3151 days ago
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> no other developed country in the world has a corporate tax system like the US. Are you sure ? Most of the developed world tax resident individuals and corporates on worldwide income. US is only unique in taxing non-resident individuals. Very few developed nations have territorial taxation such as HK, SGP and Panama. |
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Yes, citizens are taxes on worldwide income, but not corporations.
>...US is only unique in taxing non-resident individuals.
The US and Eritrea.
>...Very few developed nations have territorial taxation such as HK, SGP and Panama.
I don't think that is correct:
>...As of 2012, 28 of the 34 current OECD member countries (82 percent) have adopted territorial tax systems that exempt 95-100 percent of qualifying dividends received from foreign affiliates resident in some or all countries. Twenty countries exempt 100 percent and eight exempt between 95 and 100 percent of qualifying foreign dividends.
>The number of current OECD member countries with territorial tax systems has doubled since 2000.
http://www.techceocouncil.org/clientuploads/reports/Report%2...
The ones who do tax worldwide income also have lower rates than the US.
>...Research by Reed College economist Kimberly Clausing [PDF] and others has found that high rates in the United States have had a measurable effect on encouraging firms to invest more in low-tax countries than they otherwise would have.
https://www.cfr.org/backgrounder/us-corporate-tax-reform
https://www.ntanet.org/NTJ/62/4/ntj-v62n04p703-25-multinatio...