September 20, 2012
Senate Holds Hearing Today on Offshore Profit Shifting and the U.S. Tax Code
The Permanent Subcommittee on Investigations of the Senate Committee on Homeland Security and Governmental Affairs holds a hearing today on Offshore Profit Shifting and the U.S. Tax Code:
The Subcommittee will examine the shifting of profits offshore by U.S. multinational corporations and how such activities are affected by the Internal Revenue Code and related regulations.
- Reuven Avi-Yonah (University of Michigan School of Law)
- Jack T. Ciesielski (President, R.G. Associates)
- Stehen E. Shay (Harvard Law School)
- Bill Sample (Corporate Vice President for Worldwide Tax, Microsoft)
- Bett Carr (Partner, International Tax Services, Ernst & Young)
- Lester Ezrati (Senior Vice President and Tax Director. Hewlett-Packard)
- John N. Mullen (Senior Vice President and Treasurer, Hewlett-Packard)
- Susan M. Cosper (Technical Director, Financial Accounting Standards Board)
- Michael Danilack (Deputy Commissioner (International), Large Business and International Division, IRS)
- William J. Wilkins (Chief Counsel, IRS)
- Bloomberg, Microsoft Avoided Billions in U.S. Tax, Senate Memo Says
- Politico, Carl Levin Targets Microsoft, HP Tax Strategies
- Reuters, Microsoft, HP Skirted Taxes Via Offshore Units: Senate Panel
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I see that Senate hearings are scheduled today on the issue of offshore profit shifting and the U.S. tax code. Hasn't anybody noticed who the last scheduled speaker is? It is IRS Chief Counsel, William Wilkins. He is a former lobbyist for...."The Swiss Bankers Association"! In light of what is going on with respect to these Swiss banks, perhaps he ought to be taken in for questioning, downtown, instead of testifying before the U.S. Senate.
Posted by: Dave | Sep 20, 2012 4:51:58 AM
Dave, the problem is that all of these people work for each other. It is going to be a very long time before there is any real change coming. Revolving Door is a very real thing in the U.S. Government, unfortunately.
Posted by: Alex | Sep 20, 2012 1:52:43 PM