The Hill’s Congress Blog: “Don’t fault the tax director”

“On September 20, a hearing on offshore profit shifting and the U.S. tax code, held by the Permanent Subcommittee on Investigations of the U.S. Senate Committee on Homeland Security and Government Affairs focused on certain cross-border tax practices of Hewlett-Packard and Microsoft,” writes Phil Cohen, a professor in the Legal Studies and Taxation Department of Pace University’s Lubin School of Business and a retired Vice President-Tax & General Tax Counsel for Unilever United States, Inc.

“On September 20, a hearing on offshore profit shifting and the U.S. tax code, held by the Permanent Subcommittee on Investigations of the U.S. Senate Committee on Homeland Security and Government Affairs focused on certain cross-border tax practices of Hewlett-Packard and Microsoft. These companies were used as case studies to identify structures and transactions that result in the shifting of significant profits from the United States taxing jurisdiction and in certain cases having the economic effect as if the earnings were distributed back to the United States parent company without incurring federal taxation,” writes Phil Cohen, a professor in the Legal Studies and Taxation Department of Pace University’s Lubin School of Business and a retired Vice President-Tax & General Tax Counsel for Unilever United States, Inc.

Read his op-ed on The Hill’s Congress Blog.

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