MindyHerzfeld

Tax Realism, Not Idealism

[MindyHerzfeld @InternationlTax]

14th edition of Intl tax in a Nutshell is out! Updated for OB3 and more

[MindyHerzfeld @InternationlTax]

@TaxNotes And apparently I picked a momentous week to write this

[MindyHerzfeld @InternationlTax]

@tomkeene , ICYMBI, my review of Lighthizer’s book, published this week:

Lighthizer on Trade, Tariffs, and International Tax https://t.co/y94CSWWILZ

[MindyHerzfeld @InternationlTax]

C’mon ⁦⁦@FT⁩ , you can do better than this. If you’re going to write a whole article on US intl tax, at least get it right. If my students wrote this on an exam, they’d flunk.

[MindyHerzfeld @InternationlTax]

For those wondering how Ireland plans to spend its windfall from Apple, at least some of the $$ appears to be going to marketing campaign (ads on Bloomberg), encouraging … investment into Ireland

[MindyHerzfeld @InternationlTax]

Put the Draghi report on the (lack of) European competitiveness (re EU’s “self-fulfilling” “lack of dynamism”) & the ECJ Apple decision side by side, & it’s hard not to see direct line btwn them

EU competitiveness: Looking ahead - European Commission https://t.co/6xd6FBpA1l

[MindyHerzfeld @InternationlTax]

For those curious as to possible US responses to DSTs, I recommend today’s W&M hearing on digital trade, bipartisan voices

Trade Subcommittee Hearing on Protecting American Innovation by Establishing and Enforcing Strong Digital Trade Rules https://t.co/z876rtzi8N

[MindyHerzfeld @InternationlTax]

Oops Atkinson, witness at W&M trade hearing, says Treas will be paying for other countries’ DSTs bc “US provides FTC for them”?

Trade Subcommittee Hearing on Protecting American Innovation by Establishing and Enforcing Strong Digital Trade Rules https://t.co/z876rtyKjf

[MindyHerzfeld @InternationlTax]

For those of you who thought that Loper Bright might be prompting Treas to be more cautious in stretching its authority in reg writing, the prop DCL regs suggest otherwise. My latest for ⁦@TaxNotes⁩

Treasury’s Latest Effort to Prop Up Pillar 2 https://t.co/bcKnEDVZ28

[MindyHerzfeld @InternationlTax]

A great crowd & great day of intl tax discussions, thx to UC Law SF for hosting us, & for the interest in the UF Tax Incubator papers!

Complexities, Discontinuities, and Unintended Consequences of U.S. International Tax Rules: Options for Change https://t.co/IqJO9uRLxp

[MindyHerzfeld @InternationlTax]

I start Intro Intl Tax teaching entity class regs, w a roadmap
I couldn’t figure out why the students were all citing 1970s RRs rather than the regs in answering the assigned problem, until I googled the q myself & got the AI generated answer, which referred to … 1970s RRs

[MindyHerzfeld @InternationlTax]

@hselftax The US gives a credit for foreign inc taxes paid, although Treas is still trying to figure out what an inc tax is.

Whether the US wants to expand its tax base by incentivizing inc now currently earned overseas to move back to US is prob ripe for discussion in the next Congress.

[MindyHerzfeld @InternationlTax]

@hselftax I cant really comment without reading the decision but I’m not sure why a case based on no-longer-relevant facts or law should influence US decision making much. The q of whether this demonstrates a more aggressive ECJ willing to wade into domestic tax is a larger one.

[MindyHerzfeld @InternationlTax]

There’s a logical flaw in arguing that the US taxes foreign earned income too favorably bc it exempts deemed risk free return on tang inv, to support US adoption of OECD min tax which provides for … more generous exemption for foreign investment

https://t.co/ZEAJCbTBr3 via @ft

[MindyHerzfeld @InternationlTax]

Great opportunity to get insights into the Apple decision at IFA’s virtual mtg (meeting starts today but panel on ECJ decision is tmrw)

USA Branch of the International Fiscal Association Inc. https://t.co/9km3ddvJDy

[MindyHerzfeld @InternationlTax]

If you thought that my art on negotiation process for UN tax convention in this week’s ⁦@TaxNotes⁩ was overly cynical, this article offers an even more pessimistic take:

Reform of the international tax architecture: the UN fails to reach consensus https://t.co/LN9GnEtgKO

[MindyHerzfeld @InternationlTax]

Curious about the process for drafting a UN framework convention on intl tax but didn’t have time to attend 3 weeks of negotiations? Here’s my take, in this week’s @TaxNotes

Dissecting the U.N. Multilateral Convention Process https://t.co/CKkYlGPybZ

[MindyHerzfeld @InternationlTax]

Also preemptively putting the blame for future failure of UTPR on congressional Repub’s:

“EU countries' collection of the minimum tax “is in line with rules, but a Republican majority in the U.S. might threaten the EU with trade sanctions for doing so…”

Tax treaties anyone?

[MindyHerzfeld @InternationlTax]

PS-A staked his future ⁦@OECDtax⁩ on success of 2-pillar solution, & now that he’s gone he’s warning of its “likely failure”

EU-U.S. Clash Over Tax Policy Appears Likely, Saint-Amans Says | Tax Notes https://t.co/7zd9VVNigV