September 29, 2010
- A d v e r t i s e m e n t
The House this week is once again expected to prevent “treaty shopping” when it votes on legislation providing aid to people whose health was seriously impacted at Ground Zero during the 9/11 clean up.
Treaty shopping can be used to avoid paying U.S. taxes. It occurs when multinational companies located in a country without a U.S. tax treaty receive U.S. income through a subsidiary in another country that has a treaty with the U.S. to avoid paying U.S. taxes.
To prevent the avoidance, subsidiaries serving as a conduit to firms without a treaty would be subject to a withholding tax.
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