Taxing Multinational Corporations
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Taxing Multinational Corporations
In the increasingly global business environment of the 1990s, policymakers and executives of multinational corporations must make informed decisions based on a sound knowledge of U.S. and foreign tax policy. Written for a nontechnical audience, Taxing Multinational Corporations summarizes the up-to-the-minute research on the structure and effects of tax policies collected in The Effects of Taxation on Multinational Corporations. The book covers such practical issues as the impact of tax law on U.S. competitiveness, the volume and location of research and development spending, the extent of foreign direct investment, and the financial practices of multinational companies.
In ten succinct chapters, the book documents the channels through which tax policy in the United States and abroad affects plant and equipment investments, spending on research and development, the cost of debt and equity finance, and dividend repatriations by United States subsidiaries. It also discusses the impact of U.S. firms’ outbound foreign investment on domestic and foreign economies. Especially useful to nonspecialists is an appendix that summarizes current United States rules for taxing international income.
In ten succinct chapters, the book documents the channels through which tax policy in the United States and abroad affects plant and equipment investments, spending on research and development, the cost of debt and equity finance, and dividend repatriations by United States subsidiaries. It also discusses the impact of U.S. firms’ outbound foreign investment on domestic and foreign economies. Especially useful to nonspecialists is an appendix that summarizes current United States rules for taxing international income.
124 pages | 5 line drawings, 10 tables | 6 x 9 | © 1995
National Bureau of Economic Research Project Report
Economics and Business: Business--Business Economics and Management Studies, Economics--Government Finance, Economics--International and Comparative
Table of Contents
Preface
Introduction
Martin Feldstein, James R. Hines, Jr., R. Glenn Hubbard.
1: Home-Country Effects of Outward Direct Investment
Robert E. Lipsey
2: Tax Rules and the Effect of Foreign Direct Investment on U.S. National Income
Martin Feldstein
3: Corporate Taxes and the Cost of Capital for U.S. Multinationals
Joosung Jun
4: The Importance of Income Shifting to the Design and Analysis of Tax Policy
Roger H. Gordon, Jeffrey K. MacKie-Mason.
5: Alternative Minimum Tax Rules and Multinational Corporations
Andrew B. Lyon, Gerald Silverstein.
6: Taxes, Technology Transfer, and R&D by Multinational Firms
James R. Hines, Jr
7: Tax Planning, Timing Effects, and the Impact of Repatriation Taxes on Dividend Remittances
Rosanne Altshuler, T. Scott Newlon, William C. Randolph.
8: Is Foreign Direct Investment Sensitive to Taxes?
Jason G. Cummins, R. Glenn Hubbard.
9: The Tax Treatment of Interest and the Operations of U.S. Multinationals
Kenneth A. Froot, James R. Hines, Jr.
10: International Accounting, Asymmetric Information, and Firm Investment
Jason G. Cummins, Trevor S. Harris, Kevin A. Hassett.
Appendix
James R. Hines, Jr., R. Glenn Hubbard.
Contributors
Author Index
Subject Index
Introduction
Martin Feldstein, James R. Hines, Jr., R. Glenn Hubbard.
1: Home-Country Effects of Outward Direct Investment
Robert E. Lipsey
2: Tax Rules and the Effect of Foreign Direct Investment on U.S. National Income
Martin Feldstein
3: Corporate Taxes and the Cost of Capital for U.S. Multinationals
Joosung Jun
4: The Importance of Income Shifting to the Design and Analysis of Tax Policy
Roger H. Gordon, Jeffrey K. MacKie-Mason.
5: Alternative Minimum Tax Rules and Multinational Corporations
Andrew B. Lyon, Gerald Silverstein.
6: Taxes, Technology Transfer, and R&D by Multinational Firms
James R. Hines, Jr
7: Tax Planning, Timing Effects, and the Impact of Repatriation Taxes on Dividend Remittances
Rosanne Altshuler, T. Scott Newlon, William C. Randolph.
8: Is Foreign Direct Investment Sensitive to Taxes?
Jason G. Cummins, R. Glenn Hubbard.
9: The Tax Treatment of Interest and the Operations of U.S. Multinationals
Kenneth A. Froot, James R. Hines, Jr.
10: International Accounting, Asymmetric Information, and Firm Investment
Jason G. Cummins, Trevor S. Harris, Kevin A. Hassett.
Appendix
James R. Hines, Jr., R. Glenn Hubbard.
Contributors
Author Index
Subject Index