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The Joint Committee on Taxation of the U.S. Congress issued a three-volume study in April 2001 entitled Study of the Overall State of the Federal Tax System and Recommendations for Simplification. Among the more than 100 recommendations of the Joint Committee Study, ten relate to international taxation. Of these, only one can be regarded as achieving significant simplification – the proposal to reduce the number of antideferral regimes from six to two. The other recommendations were limited to relatively minor changes of detail in various international provisions. Even these small steps toward simplifying the notoriously complex U.S. international tax rules, however, were not included in the Economic Growth and Tax Relief Reconciliation Act of 2001, signed into law on 7 June 2001.


© 2001 IBFD. Originally published in 55 Bull. Intl. Taxn. 9, pp. 493-497, Journals IBFD. Bulletin for International Taxation is available online at Reproduced with permission.