TaxNewsFlash-United States

July 23, 2007
No. 2007-323
    
 

Treasury Report on Business Taxation and Global Competitiveness

The Treasury Department today released a background paper—Treasury Conference on Business Taxation and Global Competitiveness—which addresses some of the issues scheduled to be discussed at the July 26th Treasury conference on business taxation and global competitiveness.

Text of the 54-page report is available on the Treasury Web site: http://www.ustreas.gov/press/releases/reports/07230 r.pdf

According to a related Treasury Department release (HP 500, July 23, 2007), the background paper provides information concerning:

  • 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
  • How the level of U.S. tax compares with that of the major trading partners (G7, OECD, and emerging market countries)
  • The U.S. system for taxing international income and how that system affects business decisions
 

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