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It should be noted that everything these companies are doing is legal: it's what we call tax avoidance or planning – not evasion.
It would eliminate every single deduction, exclusion and credit in the tax code, which economists call "tax expenditures," and sharply reduce tax rates to three brackets of 8, 14 and 23 percent.
In some cases, they are banding together to try to prevent undesirable aspects of competition: France and Germany, for instance, are calling on Brussels to put a floor under European corporate tax rates in an effort to stop what they call tax dumping in the new member countries.
But at the same time as leading corporate lights are defending practices that allow them to pay very little actual tax, the Business Council of Australia (Chevron, BHP and Rio are all members) and other groups are pressing for a corporate tax cut as part of what policymakers like to call tax reform.
James Brooke (NYT) CUBA: PHONE CALL TAX -- Havana, retaliating against a bill in the United States Congress that makes use of Cuban money frozen in the United States, levied a 10percenttaxax on the cost of telephone calls between Cuba and the United States.
The report also identified several income tax credits and deductions that the bureaucrats call "tax expenditures".
Similar(50)
The rebels have never denied that they collect what they call "taxes".
That decision to share for the common good, agreed on democratically, is what we call "taxes".
B. Instead of being called "tax hikes," they be called "tax nature walks".
It's called tax increment financing.
Such "loopholes and subsidies" are formally called tax expenditures.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com