US Treasury Publishes Background Paper On Global Competitiveness And Business Taxation

by Mike Godfrey, Tax-News.com, Washington

25 July 2007

The US Treasury Department on Monday released a background paper concerning some of the many issues to be discussed this Thursday at the Treasury Conference on Business Taxation and Global Competitiveness.

The paper details:

• The extent to which special provisions narrow the business tax base;
• The importance of the non-corporate sector generally subject to the individual tax rather than the corporate tax;
• The various ways the tax system distorts economic decisions; and
• How the level of US tax compares with the country's major trading partners (G7, OECD, and emerging market countries).

The paper also discusses the US system for taxing international income and examines how that affects business decisions.

Treasury Secretary, Henry Paulson is hosting the one-day conference on Thursday to examine ways in which the current business tax system affects economic growth and US competitiveness in the global economy.

The conference, says the Treasury, represents "a continuation of Secretary Paulson's effort to ensure that American businesses and workers remain competitive in the global marketplace".

According to a schedule for the event published last week, the Plenary Session Panel will discuss issues under the auspices of 'Framing the Issue: Business and economic perspectives'. Panellists will include Oracle CEO, Safra A. Catz, and former Federal Reserve Chairman, Alan Greenspan.

Roundtable discussions will then take place

The full text of the background paper can be found in the Tax News Resources section.

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