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WTO tells U.S. to end tax havens. (Insider Report).(World Trade Organization )(Brief Article)
A January 14th decision by the World Trade Organization (WTO) "could cost American companies billions of dollars in higher taxes," reported the New York Times. A WTO appellate panel ruled that "offshore tax havens allowed by United States tax law amounted to an illegal trade subsidy and must be scrapped."
By approving U.S. membership in the WTO in 1994, Congress surrendered its constitutional powers to regulate foreign trade to a body of unelected, unaccountable foreign bureaucrats in Geneva. The January 14th WTO decision suggests that Congress has also surrendered at least a portion of its powers to set U.S. tax policy.
Under U.S. law, explained the Times, "exporters can avoid paying taxes on some overseas sales by channeling profits through subsidiaries in places like Guam and the ...
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...Business News Jun. 14--The World Trade Organization yesterday gave the United States until the end of the year to revise...international trade rules and urged the United States to revise it. If the United States does not comply with the ruling...
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- Magazine article from: Vanderbilt Journal of Transnational Law Greisberger, Andrea May 1, 2004 700+ words
...ABSTRACT The World Trade Organization (WTO) has...nations like the United States and the members...UNION AND THE UNITED STATES TO THE ACWL...involving the World Trade Organization (WTO...neither the United States nor the European...
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...subsidies to the World Trade Organization (WTO). "For almost a year, the United States has tried to convince...not end them." The United States was expected today...last October that the United States was withdrawing from...
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- Press release article from: PR Newswire July 26, 2002 700+ words
VANCOUVER -- The United States Department of Commerce's long-running battle to put import...softwood lumber was dealt another blow today by the World Trade Organization (WTO). International Trade Minister Pierre Pettigrew has...
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- Magazine article from: WWD Ellis, Kristi October 10, 2001 700+ words
...iron out a deal on concessions for Pakistan in return for its support in the fight against terrorism, the World Trade Organization has ruled that the U.S. should rescind quotas on combed cotton yarn imports from Pakistan. In light of the...
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- Magazine article from: WWD September 17, 2002 700+ words
The World Trade Organization ruled Monday that a U.S. law authorizing the government to pay the proceeds from anti-dumping and countervailing duties to...
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- Magazine article from: The Food Institute Report March 21, 2005 700+ words
Details of a split decision by a World Trade Organization panel regarding a complaint from the U.S. and Australia against the European Union's position on the right of foreign exporters...
Source: HighBeam Research, WTO tells U.S. to end tax havens. (Insider Report).(World Trade...