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Call # KF6419.Z9 D64 2012
Author Doernberg, Richard L
Title International taxation in a nutshell / by Richard L. Doernberg
Imprint St. Paul, Minn. : West , c2012
Edition 9th ed
Book Cover
LOCATION CALL NO. STATUS
 WMS COURSE RESERVE  KF6419.Z9 D64 2012 c.4  AVAILABLE
 WMS READ ROOM RESERVE  KF6419.Z9 D64 2012 c.2  LIB USE ONLY
 WMS COURSE RESERVE  KF6419.Z9 D64 2012    AVAILABLE
 WMS COURSE RESERVE  KF6419.Z9 D64 2012 c.2  AVAILABLE
 WMS COURSE RESERVE  KF6419.Z9 D64 2012 c.3  AVAILABLE

Details

Descript. lxi, 588 p. ; 19 cm
Series West nutshell series
Nutshell series
Note Includes index
Subject Income tax -- United States -- Foreign income
Investments, Foreign -- Taxation -- Law and legislation -- United States
Corporations, Foreign -- Taxation -- Law and legislation -- United States
Aliens -- Taxation -- Law and legislation -- United States
OCLC # 772593089
Table of Contents
 Prefacev
 Table Of Casesxxi
 Table Of Internal Revenue Code Sectionsxxv
 Table Of Treasury Regulations And Revenue Rulingsliii
pt. 1 OVERVIEW OF FUNDAMENTAL CONCEPTS 
ch. 1 Introduction1
1.01.Growth of International Trade1
1.02.Economics of International Trade1
1.03.Central Problem of International Taxation2
1.04.Economics of Juridical Double Taxation3
1.05.Overview of Worldwide International Tax Systems6
ch. 2 Basic U.S. Jurisdictional Tax Principles12
2.01.Introduction to U.S. Taxing Provisions12
2.02.Outbound Transactions12
2.03.Inbound Transactions15
(a).Individuals16
(b).Corporations18
(c).Partnerships20
2.04.Citizenship and Residency20
(a).Individuals20
(b).Corporations24
2.05.Expatriates26
2.06.Introduction to U.S. Income Tax Treaties28
ch. 3 Source Rules30
3.01.Income Source Rules30
(a).Interest31
(1).Domestic Payor31
(2).Foreign Payor32
(b).Dividends33
(1).Domestic Payor33
(2).Foreign Payor33
(c).Personal Services34
(d).Rentals and Royalties38
(e).Real Property42
(f).Personal Property42
(1).Purchased Inventory42
(2).Produced Personal Property43
(3).Intangible Property47
(4).Depreciable Personal Property48
(5).Other Personal Property49
(6).Sales Through Offices or Fixed Places of Businesses in the United States50
(g).Other Gross Income51
(h).Residence for Source Rule Purposes53
3.02.Deduction Allocation Rules54
(a).In General54
(b).Interest59
(1).U.S. Corporations59
(2).Foreign Corporations65
(3).Deductibility of Interest Expense67
(c).Research and Experimental Expenditures68
(d).Losses71
pt. 2 U.S. ACTIVITIES OF FOREIGN TAXPAYERS 
ch. 4 Taxing Rules74
4.01.Overview74
4.02."Engaged in a Trade or Business" in the United States75
4.03."Effectively Connected" Income80
(a).U.S. Source Income80
(b).Foreign Source Income81
(c).Income Effectively Connected to a Pre-existing Trade or Business84
(d).Effectively Connected Income Election86
4.04.Nonbusiness Income From U.S. Sources86
(a).Interest88
(1).Original Issue Discount88
(2).Portfolio Interest89
(3).Conduit Financing92
(4).Bank Deposits94
(5).Interest Substitutes94
(6).Interest Stripping (I.R.C. [§] 163(j))95
4.04.Nonbusiness Income From U.S. Sources---Continued 
(b).Dividends98
(c).Rents and Royalties100
(d).Income From Services100
(e).Social Security Benefits101
(f).Other FDAP Income102
(g).Capital Gains102
4.05.Branch Profits Tax103
(a).Branch Profits Tax on Branch Earnings103
(b).Branch Profits Tax on Interest106
(c).Branch Profits Tax and Secondary Withholding on Dividends108
(d).Branch Profits Tax and Income Tax Treaties109
4.06.Foreign Investment in U.S. Real Property109
(a).Operational Income109
(b).Dispositional Income111
4.07.Transportation Income116
4.08.Taxation of Foreign Governments118
ch. 5 Role of Income Tax Treaties121
5.01.Bilateral Income Tax Treaty Network121
5.02.Treaty Making Process in the United States123
5.03.Relationship of Income Tax Treaties and the Code124
5.04.Development of Model Income Tax Treaties125
5.05.Income Tax Treaty Provisions128
(a).Interpretation of U.S. Income Tax Treaties128
(b).Scope of the Treaty129
(c).Definitions131
(d).Classification and Assignment Rules135
(1).Business Income135
(2).Personal Services Income143
(3).Investment Income145
(4).Other Income149
(e).Avoidance of Double Taxation149
(f).Limitation on Benefits150
(g).Nondiscrimination155
(h).Mutual Agreement Procedure157
(i).Exchange of Information and Administrative Assistance159
5.06.Tax Sparing161
ch. 6 Filing, Withholding, and Reporting Requirements163
6.01.Filing Requirements163
6.02.Sailing Permits167
6.03.Need for Withholding168
6.04.Withholding on Dividends, Interest, and Other Periodic Payments168
(a).Income Subject to Withholding170
(b).Reduced Rates of Withholding175
(c).Who Is a Withholding Agent?175
(d).Payments Involving Partnerships, Trusts and Estates177
(e).Payments to Foreign Intermediaries181
6.05.Firpta Withholding188
6.06.Information Reporting191
6.07.Fatca Reporting and Withholding192
(a).Background192
(b).FFIs193
(c).Participating FFIs195
6.08.Penalty Provisions196
pt. 3 FOREIGN ACTIVITIES OF U.S. TAXPAYERS 
ch. 7 Introduction to U.S. Business Activity in Foreign Countries199
7.01.Introduction199
7.02.Citizens and Residents of the United States Living Abroad201
(a).Introduction201
(b).Foreign Income Exclusion202
(c).Housing Cost Amount204
7.03.Export Incentives206
(a).Background206
(b).Replacement for the ETI Regime207
ch. 8 Foreign Tax Credit209
8.01.Overview209
(a).Relieving Double Taxation209
(b).Statutory Framework216
8.02.Eligibility219
8.03.Creditable Taxes220
(a).Is the Foreign Levy a Tax?220
(b).Is the Tax a Separate Tax or Part of a Broader Tax?225
(c).Is the Tax an Income Tax?226
8.03.Creditable Taxes---Continued 
(d).Taxes in Lieu of an Income Tax231
(e).Who Can Claim the Foreign Tax Credit233
(f).When Can the Foreign Tax Credit Be Claimed"236
(g).What Is the Amount of the Creditable Foreign Income Tax239
8.04.Computing the Direct Credit243
8.05.Computing the Indirect Credit243
(a).Overview243
(b).Minimum Ownership Requirements245
(c).Amount of Tax Deemed Paid247
8.06.Limitations on the Foreign Tax Credit252
(a).Overview252
(b).Separate "Baskets"257
(1).Passive Income Basket260
(2).Look-Through Rules262
(3).General Basket265
(c).Treatment of Foreign Losses266
(d).Treatment of U.S. Losses272
(e).Tax Credit Source Rules273
8.07.Tax Redeterminations274
8.08.Effect of Treaties on the Foreign Tax Credit275
8.09.Changes to the Interest Expense Allocation Rules276
ch. 9 Intercompany Pricing278
9.01.Overview278
9.02.Arm's Length Principle282
9.03.Controlled and Uncontrolled Transactions283
9.04.Overview of Transfer Pricing Methodologies284
9.05.Transaction-Based Methodologies285
(a).Comparable Uncontrolled Price Method285
(b).Comparable Uncontrolled Transaction Method287
(c).Resale Price Method290
(d).Cost Plus Method293
9.06.Profit-Based Methodologies296
(a).Profit Split Methods297
(1).Comparable Profit Split Method297
(2).Residual Profit Split Method298
(b).Comparable Profits Method301
9.07.Other Key Features Under I.R.C. [§] 482 and the Regulations304
(a).Best Method Rule305
(b).Arm's Length Range306
(c).Comparability Analysis306
(1).Functional Analysis307
(2).Contractual Terms308
(3).Risk309
(4).Economic Conditions309
(5).Property or Services310
(d).Selection of the Tested Party310
(e).Multiple Year Data311
(f).Periodic Adjustments311
9.08.Penalties313
9.09.Application of I.R.C. 482 Principles315
(a).Customs Considerations315
(b).Other I.R.C. [§] 482 Adjustments316
9.09.Application of I.R.C. 482 Principles---Continued 
(c).I.R.C. [§] 482 and Foreign Tax Credit318
(d).I.R.C. [§] 482 and U.S. Treaties318
9.10.Advance Pricing Agreements321
9.11.Cost-Sharing323
(a).Cost Sharing Agreements323
(b).Investor Model and the Income Method327
9.12.Controlled Services Transactions328
(a).Services Cost Method329
(b).Shared Services Arrangements333
(c).Additional Transfer Pricing Methods for Controlled Services Transactions335
9.13.OECD Transfer Pricing Guidelines338
ch. 10 Controlled Foreign Corporations and Related Provisions340
10.01.Overview340
10.02.Definitions: Controlled Foreign Corporation and United States Shareholder341
10.03.Income Taxable to Shareholders345
(a).Subpart F Income347
(1).Foreign Personal Holding Company Income348
(2).Foreign Base Company Sales Income356
(3).Foreign Base Company Services Income367
(4).Other Foreign Base Company Income370
10.03.Income Taxable to Shareholders---Continued 
(5).Allocation and Apportionment of Deductions371
(6).Relief Provisions371
(7).Insurance Income376
(b).Increase in Earnings Invested in U.S. Property376
10.04.Adjustments to Stock Basis383
10.05.Foreign Tax Credit384
10.06.Sale of CFC Stock387
10.07.Passive Foreign Investment Companies (PFICs)390
ch. 11 Foreign Currency400
11.01.Overview400
11.02.Functional Currency405
11.03.Foreign Currency Transactions408
(a).Acquisition and Disposition of Foreign Currency410
(b).Lending and Borrowing Foreign Currency411
(c).Acquisition and Disposition of Assets Denominated in Foreign Currency414
(d).Accounts Receivable and Payable415
(e).Forward, Futures and Option Contracts416
(f).Hedging417
11.04.Foreign Currency Translation422
(a).Foreign Branches422
(b).Foreign Corporations432
11.05.Treatment of Individuals434
ch. 12 International Tax-Free Transactions436
12.01.Overview436
12.02.Outbound Transactions441
(a).General Rule441
(b).Active Trade or Business Exception444
(c).Branch Loss Recapture Rule448
(d).Intangible Assets451
(e).Stock or Securities Exception---Foreign Corporation454
(f).Stock or Securities Exception---U.S. Corporation458
(g).Outbound Spin-Offs463
(h).Outbound Liquidations464
(i).Transfers to Estates, Trusts and Partnerships466
12.03.Non-Outbound Transactions467
12.04.Carryover of Tax Attributes in Foreign-to-Foreign Nonrecognition Events475
ch. 13 Tax Arbitrage and Economic Substance477
13.01.Introduction477
13.02.Check-The-Box Regulations481
13.03.Tax Arbitrage Sampler484
(a).Entities484
(1).Check-the-Box Elections484
(2).Dual Resident Corporations491
(3).Tax-Exempt Entities497
(b).Character of Income500
(c).Source of Income504
13.03.Tax Arbitrage Sampler---Continued 
(d).Tax Base507
(1).Timing Differences507
(2).Permanent Differences512
13.04.Economic Substance and Other Doctrines515
13.05.Tax Governance and Transparency526
(a).Reportable Transactions and Listed Transactions526
(b).Uncertain Tax Positions (UTPs)529
ch. 14 International Boycott and Foreign Bribery Provisions531
14.01.Overview of International Boycott Provisions531
14.02.Boycott Participation533
14.03.Examples of Penalized Conduct535
(a).Discriminatory Refusals to Do Business535
(b).Discriminatory Hiring Practices537
(c).Discriminatory Shipping and Insurance Arrangements538
14.04.Tax Effect of Boycott Participation538
14.05.Foreign Bribery Provisions543
 Index547