Transatlantic Tax Issues

In the first article of this series on transatlantic tax issues (12 January 2009 Issue 963) James Clare and Justin Stalls discussed the tax policies announced during President (then Senator) Obama's election campaign. In May 2009 the Obama Administration released further details of its long-awaited tax reform plan (the so-called 'Green Book').

According to the US Treasury Department US multinational corporations paid about $16 billion in US tax on approximately $700 billion of non-US earnings in 2004. The Green Book aims both to curb the use of tax havens by US taxpayers and to remove incentives for US businesses to...