Coverart for item
The Resource IRS could better protect U.S. tax interests in determining the income of multinational corporations : report to the Chairman, House Committee on Ways and Means, by the Comptroller General of the United States

IRS could better protect U.S. tax interests in determining the income of multinational corporations : report to the Chairman, House Committee on Ways and Means, by the Comptroller General of the United States

Label
IRS could better protect U.S. tax interests in determining the income of multinational corporations : report to the Chairman, House Committee on Ways and Means
Title
IRS could better protect U.S. tax interests in determining the income of multinational corporations
Title remainder
report to the Chairman, House Committee on Ways and Means
Statement of responsibility
by the Comptroller General of the United States
Title variation
  • Internal Revenue Service could better protect U.S. tax interests in determining the income of multinational corporations
  • I.R.S. could better protect U.S. tax interests in determining the income of multinational corporations
Creator
Contributor
Subject
Language
eng
Summary
GAO reported on the Internal Revenue Service's (IRS) administration of the Internal Revenue Code section 482 when auditing multinational corporations. Specific changes were discussed which would improve IRS enforcement of existing regulations. The larger question was explored of whether more fundamental changes in the regulations together with additional approaches to taxation of multinational corporations could alleviate some of the uncertainty and administrative burden presently being experienced by IRS and corporate taxpayers. Multinational corporations have both the incentive and the opportunity to shift income between jurisdictions to take advantage of disparate corporate tax rates. One incentive is the minimization of taxes. The opportunity lies in the pricing of interorganizational transactions. This presents an excellent opportunity for abuse. IRS has not yet developed baseline information on the incidence and magnitude of multinational corporation noncompliance in terms of improper shifting of income. Thus, IRS has no basis for determining the amount of audit resources to be assigned to the problem, nor for gauging the success of those resources that are applied to it. Enforcement difficulties are compounded by the complexities involved in measuring the amount of income misallocated. Thus, regulations and the resulting enforcement process create an unacceptable level of uncertainty and a significant administrative burden both for corporate taxpayers and IRS examiners. Neither GAO nor IRS knows how much noncompliance exists, nor how many more adjustments IRS should have made. However, it can reasonably be concluded that the potential for greater enforcement exists
Cataloging source
AD#
Government publication
federal national government publication
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
bibliography
http://bibfra.me/vocab/lite/organizationName
United States
http://library.link/vocab/relatedWorkOrContributorName
United States
http://library.link/vocab/subjectName
  • United States
  • United States
  • International business enterprises
  • International business enterprises
  • United States
Label
IRS could better protect U.S. tax interests in determining the income of multinational corporations : report to the Chairman, House Committee on Ways and Means, by the Comptroller General of the United States
Instantiates
Publication
Note
  • Cover title
  • "September 30, 1981."
  • GGD-81-81
  • B-202972
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Dimensions
27 cm
Extent
x, 95 pages
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
c
Note
Hein Online
Other physical details
illustrations
System control number
  • (OCoLC)640401477
  • (OCoLC)ocn640401477
System details
  • Mode of access: World Wide Web
  • System requirement: Adobe Acrobat reader
Label
IRS could better protect U.S. tax interests in determining the income of multinational corporations : report to the Chairman, House Committee on Ways and Means, by the Comptroller General of the United States
Publication
Note
  • Cover title
  • "September 30, 1981."
  • GGD-81-81
  • B-202972
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Dimensions
27 cm
Extent
x, 95 pages
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
c
Note
Hein Online
Other physical details
illustrations
System control number
  • (OCoLC)640401477
  • (OCoLC)ocn640401477
System details
  • Mode of access: World Wide Web
  • System requirement: Adobe Acrobat reader

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