Australia eyes divident tax

Article Abstract:

The Australian national elections is expected to result in a number of tax reforms that is likely to harm the overseas remittance of the units of multinationals in Australia. One popular tax reform policy being endorsed by parties is the 36% tax on dividends paid by companies that have been unfranked to replace the 15% withholding tax on dividends. The US is especially worried over this tax proposal since US direct investments to Australia exceeds A$40 bil ($23.5 bil) and over 1,200 US-based companies have units in Australia.

Tax Law, Profits, Corporate profits

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Here's to reform, mate

Article Abstract:

Australian and international firms under Australian operations proposed corporate tax reforms that reduces corporate income tax rates and capital gains. The proposals include income tax cuts from 36% to 30% and capital gains also from 36% down to 15%. The reforms which require government support, will bring Australian corporate tax lower than the 35% standard set by the US, which can cause difficulties in earning from repatriation.

Capital Gains Taxes, Corporate Income Taxes, Tax reform, Capital gains tax

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Arm's length iconoclast

Article Abstract:

Sen. Byron L. Dorgan is opposing the proposed arms length transfer pricing method of taxing multinational companies. Dorgan, a member of the Senate's Commerce, Science and Transportation and Appropriations Committees, is pushing a formulary apportionment approach which considers a company's revenues, property and payroll. He stresses that the arms length approach will allow multinational firms to pay minimal taxes.

Dorgan, Byron L.

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