Browsing by Author "Shay, Stephen"

Assessing BEPS: Origins, Standards, and Responses

Christians, Allison; Shay, Stephen E. (International Fiscal Association, 2017)

The G20/OECD’s multi-year campaign to combat base erosion and profit shifting (BEPS) marks a critical step in the evolution of the international tax regime and the roles of institutions that guide it. This General Report ...

Base Erosion and Profit Shifting: A Roadmap for Reform

Shay, Stephen E. (IBFD, 2014)

In this Editorial, the authors explain the context of this special issue of the Bulletin for International Taxation. The fundamental premise of the BEPS project is that a coordination of national responses to BEPS can both ...

Brief of Amici Curiae J. Richard Harvey, Leandra Lederman, Ruth Mason, Susan Morse, Stephen Shay and Bret Wells in Altera Corp. v. Commissioner, in Support of Respondent-Appellant Commissioner

Harvey, J. Richard; Lederman, Leandra; Mason, Ruth; Morse, Susan C.; Shay, Stephen E.; Wells, Bret (2016)

The Treasury regulations at issue in Altera Corp. v. Commissioner condition the validity of controlled taxpayers’ income allocation under a cost-sharing agreement upon the requirement that the controlled parties share all ...

Comment on Selected Aspects of Proposals in Public Consultation Document on Addressing the Challenges of the Digitalization of the Economy

Shay, Stephen (2019-03-06)

This comment was filed in response to the G20/OECD Inclusive Forum’s Public Consultation Document on Addressing the Challenges of the Digitalization of the Economy. The comment supports a re-alignment of the division of ...

Commentary: Ownership Neutrality and Practical Complications

Shay, Stephen E. (New York University, 2009)

In "Reconsidering the Taxation of Foreign Income," Jim Hines analyzes the consequences of taxing, as opposed to exempting, active foreign business income by comparing the expected effects on capital ownership of a "pure" ...

The David R. Tillinghast Lecture - What's Source Got to Do with it - Source Rules and U.S. International Taxation

Shay, Stephen E.; Fleming, J. Clifton, Jr.; Peroni, Robet J. (New York University, 2002)

Arguably, the largest problem in international income taxation is the proper treatment of income that is subject to the legitimate taxing claims of two or more countries. A source country's jurisdiction to tax foreign ...

Designing a 21st Century Corporate Tax — An Advance U.S. Minimum Tax on Foreign Income and Other Measures to Protect the Base

Shay, Stephen E.; Fleming, J. Clifton, Jr.; Peroni, Robert J. (Tax Analysts, 2015)

The 21st Century has seen unprecedented levels of corporate tax aggressiveness and avoidance. This Article continues our exploration of second-best international tax reforms that would protect the U.S. corporate tax base ...

Designing a U.S. Exemption System For Foreign Income When the Treasury is Empty

Fleming, J. Clfton, Jr.; Peroni, Robert J.; Shay, Stephen E. (Tax Analysts, 2012)

The U.S. government faces a well-documented long-term revenue shortage that is unlikely to be cured by government expenditure reductions. Thus, it is curious that there is currently considerable pressure for the United ...

Directions for International Tax Reform:, Hearing Before the U.S. Senate Committee on Finance, Hearing on International Tax Reform

Shay, Stephen E. (2017)

Testimony before the U.S. Senate Committee on Finance Hearing on International Tax Reform, October 3, 2017. Objectives for Tax Reform Tax reform should maintain or enhance our tax system’s current level of progressivity ...

Fairness in International Taxation: The Ability-to-Pay Case for Taxing Worldwide Income

Fleming, J. Clifton, Jr.; Peroni, Robert J.; Shay, Stephen E. (Tax Analysts, 2001)

Although the ability-to-pay fairness principle is a foundational element of American income tax policy, it has played a surprisingly small role in evaluating the U.S. international income tax regime. Perhaps this is because ...

Foreword: International Tax Policy in a Disruptive Environment

Christians, Allison; Schön, Wolfgang; Shay, Stephen E. (2018)

In this foreword to International Tax Policy in a Disruptive Environment: A Special Issue, the authors provide an overview of the two-day interdisciplinary conference that took place in Munich on 14-15 December 2017, and ...

Formulary Apportionment in the U.S. International Income Tax System: Putting Lipstick on a Pig?

Fleming, J. Clifton, Jr.; Peroni, Robert J.; Shay, Stephen E. (2015)

Perhaps surprisingly, this Article has shown that the debate over formulary apportionment is little more than an alternative path to the larger debate over worldwide taxation versus territorial taxation. The present U.S. ...

Getting From Here to There: The Transition Tax Issue

Fleming, J. Clifton Jr.; Peroni, Robert J.; Shay, Stephen E. (Tax Analysts, 2017)

If there is fundamental U.S. international income tax reform, regardless of the reform option chosen, the United States must decide how to handle the $2.4 trillion to $2.6 trillion of previously untaxed foreign income ...

Getting Serious About Cross-Border Earnings Stripping: Establishing an Analytical Framework

Shay, Stephen E.; Fleming, Jr., J. Clifton; Peroni, Robert J. (North Carolina Law Review, 2015)

The term “corporate inversion” is used to identify several transactional forms by which U.S. resident corporations are converted into foreign corporations or into U.S. subsidiaries of foreign corporations. These transactions ...

A GILTI High-Tax Exclusion Election Would Erode the U.S. Tax Base

Shay, Stephen (Tax Analysts, 2019-11-18)

This article is slightly edited from a public comment letter originally submitted to Treasury and the IRS. The article argues that the proposed elective expansion of a high-tax exclusion from the reach of GILTI is inconsistent ...

Jobs, Deficit Reduction, Revenues, and Fundamental Tax Reform

Shay, Stephen E. (Tax Analysts and Advocates, 2011)

In this article, Shay argues that flat opposition to revenue increases has contributed to U.S. economic vulnerability and has had unintended effects, including contributing to increased deficits instead of smaller government. ...

Lessons the United States Can Learn From Other Countries' Territorial Systems For Taxing Income of Multinational Corporations

Altshuler, Rosanne; Shay, Stephen E.; Toder, Eric (Urban Institute & Brookings Institution Tax Policy Center, 2015)

The United States has a worldwide system that taxes the dividends its resident multinational corporations receive from their foreign affiliates, while most other countries have territorial systems that exempt these dividends. ...