'Legal Enemies of the State'!

'Legal Enemies of the State'!

How does that old Wall Street saying go? Bulls make money; Bears make money; Pigs get slaughtered. Bulls in this context are easily defined, and so are Bears. Money can be measured. But it seems to me that piggy behavior is in the eyes of the beholder.

InTax Notes this week I wrote about
abusive transfer pricing and other techniques being used by multinational corporations and their brilliant tax advisors to avoid as much tax as possible. That these techniques are technically legal, and, some would say, actually enabled by governments like the United States and groups such as the Organization for Economic Cooperation and Development (OECD), doesn't necessarily make them right.

In fact, the OECD itself recently issued a report - known as the
BEPS report - on how these techniques create base erosion and profit shifting. The problem is so serious, according to the report, "What is at stake is the integrity of the corporate income tax."

The attack on the tax behavior of multinational corporations has already begun. The question is, will it stick?...

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View Chris Bergin's opinion in its entirety on the taxanalysts® Blog.

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