This feed is published daily with selected new or updated
content from across the Lowtax Network. For a list of Lowtax Network
sites, many of which feature daily news, see
below.
Providing essential tax news and information
for globally mobile artists, contractors, entrepreneurs, professionals,
small businesses, sportspersons and entertainers.
Lowtax Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail.
Tax News: Global
tax news, continuously updated through the day.
Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor.
Law & Tax
News: Daily news and background data on tax and legal developments
for international business.
Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources.
US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax.
NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers.
US Corporate Taxes Now 50% Higher Than OECD Average,
by Mike Godfrey, Tax-News.com, Washington
Friday, August 15, 2008
A new study by the Organization for Economic Cooperation and Development has
shown that the United States is effectively moving backwards in terms of corporate
tax competitiveness with its continued failure to lower rates.
The OECD study shows that for the 17th consecutive year, the average rate of
corporate taxes in non-US countries fell while the US corporate tax rate
stayed the same.
As a result of the US failure to lower its corporate tax rate for more than
two decades while other major trading nations lowered theirs, the US corporate
tax rate is now 50% higher than the OECD average. Nine key trading partners
cut their rates during 2007.
"Continued failure by US tax policymakers to keep up with our top global
economic competitors means that we're solidifying a trend that will result in
our children and grandchildren not seeing the economic growth we've seen in
our lifetimes," stated Scott Hodge, President of the Tax Foundation in
the organization's latest Fiscal Fact, released on Wednesday in response to
the OECD report.
"There's a real-wallet impact for Americans as we continue to sit idly
by while other countries improve the way they do business, and we should be
very concerned about jobs, capital, and investments moving from high-tax countries
to low-tax countries," Hodge warned.
According to the Tax Foundation, the latest report comes on the heels of another
recent OECD study showing that corporate taxes are the single most harmful tax
to GDP growth, more so than personal income taxes or consumption taxes.
The combined federal and state corporate tax rate in the US currently stands
at 39.3% - the second-highest among industrialized countries - while the OECD
average rate has fallen to 26.6%.
Even China has recognized the significance of cutting the corporate tax to
become more competitive, reducing their top standard corporate tax rate from
33% to 25% just this year, the Tax Foundation noted.
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
Advertising & Marketing
With over 50,000 qualified readers every month our web-sites
offer a number of cost effective, targeted advertising,
sponsorship and marketing opportunities:
Display advertising - from 'skyscrapers' to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings
Could your corporate web-site or newsletter benefit
from incorporating regularly updated news and content
tailored to serve your clients' interests? We can provide
a variety of maintenance-free news and content solutions
that can be seamlessly integrated and dynamically delivered:
Click here for a brief introduction
to RSS and instructions on how to get the Tax-News feed.
IMPORTANT NOTICE: THE LOWTAX NETWORK has
taken reasonable care in sourcing and presenting the information contained on
this site, but accepts no responsibility for any financial or other loss or damage
that may result from its use. In particular, users of the site are advised to
take appropriate professional advice before committing themselves to involvement
in offshore jurisdictions, offshore trusts or offshore investments. All materials
on this site copyright THE LOWTAX NETWORK 1999 to 2010. Contact
us for further information.
TAX-NEWS.COM
Free Tax-News Feed