7 ms·

In the postcode of the card used to purchase the services.

by nicoffeine 5y ago

mr_toad 5y ago
So if I was previously incorporated in the US, and paying taxes in the US, does anyone think that the IRS, and more importantly Congress, is going to give up that tax revenue to the UK?
- nicoffeine 5y ago
  Sec. of Treasury Janet Yellen in a letter to Sen. Crapo, earlier this year: "Treasury also takes seriously the protection of the U.S. fisc. Our Greenbook proposals will bring corporate tax revenue as a share of our economy closer to its 21st century average before the 2017 corporate tax cut. Meanwhile, our Pillar 1 comprehensive scope proposal will be largely revenue neutral for the United States since we will be on both the receiving and giving end of the proposed profit reallocations. Indeed, one interesting feature of Pillar 1 estimates is that they demonstrate the extent to which both U.S. and foreign-headquartered corporations have managed to shift profits derived from sales to U.S. customers outside the United States for years, including under the 2017 tax act." https://mnetax.com/wp-content/uploads/2021/06/Yellen_letter_to_Crapo_on_OECD_tax_negotiations920.pdf https://mnetax.com/wp-content/uploads/2021/06/Yellen_letter_...
  - mr_toad 5y ago
    Spoken like a politician: you didn’t actually answer my question.
    - nicoffeine 5y ago
      I can't really answer your question because all of your premises are wrong. Your concern about the IRS is irrelevant: they enforce policy, they do not define it. Your concern about Congress is also irrelevant, since this change can be made through a different process. The quote from the Secretary of the Treasury did answer the nature of your concern. She has been on reserve boards for almost 30 years, and is head of the department that is concerned with all financial matters in regards to the federal government. If that's not good enough, I'm not sure what would be satisfactory for you.

7 ms·

In the postcode of the card used to purchase the services.

by nicoffeine 5y ago

In the postcode of the card used to purchase the services.

mr_toad 5y ago
So if I was previously incorporated in the US, and paying taxes in the US, does anyone think that the IRS, and more importantly Congress, is going to give up that tax revenue to the UK?
- nicoffeine 5y ago
  Sec. of Treasury Janet Yellen in a letter to Sen. Crapo, earlier this year: "Treasury also takes seriously the protection of the U.S. fisc. Our Greenbook proposals will bring corporate tax revenue as a share of our economy closer to its 21st century average before the 2017 corporate tax cut. Meanwhile, our Pillar 1 comprehensive scope proposal will be largely revenue neutral for the United States since we will be on both the receiving and giving end of the proposed profit reallocations. Indeed, one interesting feature of Pillar 1 estimates is that they demonstrate the extent to which both U.S. and foreign-headquartered corporations have managed to shift profits derived from sales to U.S. customers outside the United States for years, including under the 2017 tax act." https://mnetax.com/wp-content/uploads/2021/06/Yellen_letter_to_Crapo_on_OECD_tax_negotiations920.pdf https://mnetax.com/wp-content/uploads/2021/06/Yellen_letter_...
  - mr_toad 5y ago
    Spoken like a politician: you didn’t actually answer my question.
    - nicoffeine 5y ago
      I can't really answer your question because all of your premises are wrong. Your concern about the IRS is irrelevant: they enforce policy, they do not define it. Your concern about Congress is also irrelevant, since this change can be made through a different process. The quote from the Secretary of the Treasury did answer the nature of your concern. She has been on reserve boards for almost 30 years, and is head of the department that is concerned with all financial matters in regards to the federal government. If that's not good enough, I'm not sure what would be satisfactory for you.