All three major goals of the Volcker task force — reducing tax evasion and loopholes, simplifying the code, and reducing corporate welfare — can be advanced by focusing on the international aspects of the tax gap. These aspects include both enforcement of existing U.S. law on U.S. residents earning income overseas (the evasion issue) and reforming deferral for U.S.-based multinational enterprises (the avoidance issue). To best advance the task force’s three goals, I would propose a change in each of these two major international areas.
Publication Information & Recommended Citation
Avi-Yonah, Reuven S. "Closing the International Tax Gap Via Cooperations, Not Competition." In Toward Tax Reform Recommendations for President Obama's Task Force , 13-5. Falls Church, VA: Tax Analysts, 2009.