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International tax policy has been a hot topic inside the Beltway since last year. With all the talk, policymakers and stakeholders alike have wondered what’s in store for 2016 and beyond. While passage of legislation remains uncertain this year, on Wednesday, the House Committee on Ways and Means helpfully furthered the conversation with its hearing “The Global Tax Environment and Implications for [...]
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Previously I wrote that 2015 was predicted to be a year of gridlock, and yet despite deep partisanship in the nation’s capital, the tech sector saw several of our priorities passed into law. If lawmakers and the President build on that momentum, there are a number of priorities Congress could address this year to propel the growth and ingenuity of the tech sector and our economy, including: Judicial [...]
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Actions by the European Commission are drawing attention from the highest levels of the U.S. government as concerns rise about the disproportionate scrutiny of U.S. based companies, the impact on the U.S. Treasury, and the potential undermining of long-standing international tax standards. In recent months, the European Commission has handed down decisions in two cases involving tax arrangements reached [...]
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An unexpected break from the norm happened in Washington last year – despite all predictions to the contrary, Congress and the President actually got to work and produced several bipartisan wins for the technology sector and our economy in general. We give credit where credit is due, and we applaud Congress and the President for working together to advance these policies in 2015 that affect the growth [...]
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It was all about Base Erosion and Profit Shifting (BEPS) for Congressional tax writers Tuesday. A number of experts testified on the Organisation for Economic Co-operation and Development’s (OECD) sprawling international tax project at hearings Tuesday morning at the House Ways and Means Committee, and that afternoon at the Senate Finance Committee. As discussed in an earlier TechWonk blog, the topic [...]
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ITI congratulates and welcomes new Ways and Means Chairman Kevin Brady (R-Tex.), and we ask that he waste no time in rolling up his sleeves to make tax extenders the first order of business for the committee in 2015. As the end of the year approaches, Congress faces a familiar task: passing the so-called tax extenders. This set of tax policies is critical to an assortment of businesses, community development [...]
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After two years of breakneck work, the Organisation for Economic Co-operation and Development (OECD) published its final reports last week on the Base Erosion and Profit Shifting (BEPS) project, which is aimed at coordinating international taxation among member countries. While this work may have drawn little attention from the general public, tax experts around the country are busy analyzing the impact [...]
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ITI released a letter commenting on the draft Innovation Promotion Act today. This bipartisan effort, led by Congressmen Charles Boustany, R-La., and Richard Neal, D-Mass., is a productive first step towards leveling the playing field for the United States in an increasingly competitive global environment. In recent years, ITI members have raised the alarm that our trading partners around the world [...]
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With just days left before Congress adjourns for the year, ITI urges the Senate to pass H.R. 5771, the Tax Increase Prevention Act of 2014. For the tech sector, passing this bill ensures the renewal and extension of the R&D tax credit, a successful tax incentive proven to stimulate investments and job growth. More immediately, if Congress fails to pass extenders legislation it would trigger an immediate [...]
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Now that Election Day has passed, Congress has returned to the nation’s capital this month for a lame duck session to finish work on a list of must pass items in the short time remaining this year. Much has been said about the gridlock that has plagued Congress and left it with few accomplishments to show, but there is still an opportunity for lawmakers to pass a bill that will do a great deal to grow [...]
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