Skip to Main Content
 

David Rosenbloom Discusses Impact of Cutting Corporate Tax Rate

November 8, 2017, The Christian Science Monitor

The Paradise Papers also reveal that Apple and Nike used tax havens to reduce their liabilities. Apple, for example, moved to Jersey after authorities pressured Ireland to close a loophole that had allowed Apple to pay far less than the 12.5 percent corporate tax rate. In 2014, the computer and electronics giant had paid only 0.005 percent.

. . .

But the maneuver draws into question the assumption of GOP tax reformers, who claim that by slashing the US corporate tax rate from a nominal 35 percent to 20 percent, corporate money will come flooding back to the United States, creating new capital and jobs.

"I don't think that's going to happen," says H. David Rosenbloom, a former senior Treasury official and now international tax lawyer at Caplin & Drysdale in Washington. "I have seen countless companies go through hoops to reduce their Irish taxes below 12 percent."

For the full article, please visit The Christian Science Monitor's website.

Excerpt taken from the article “Why Tax Havens Persist, and Where a Rethink Could Take Hold” by Laurent Belsie for The Christian Science Monitor.

________________________________________________

About Caplin & Drysdale
Having celebrated our 50th Anniversary in 2014, Caplin & Drysdale continues to be a leading provider of tax, tax controversy, and litigation legal services to corporations, individuals, and nonprofits throughout the United States and around the world. We are also privileged to serve as legal advisors to accounting firms, financial institutions, law firms, and other professional services organizations.

The firm's reputation over the years has earned us the trust and respect of clients, industry peers, and government agencies. Moreover, clients rely on our broad knowledge of the law and our keen insights into their business concerns and personal interests. Our lawyers' strong tactical and problem-solving skills - combined with substantial experience handling a variety of complex, high stakes, matters in a boutique environment - make us one the nation's most distinctive law firms.

With offices in New York City and Washington, D.C., Caplin & Drysdale's core practice areas include:

-Bankruptcy
-Business, Investment & Transactional Tax
-Complex Litigation
-Corporate Law
-Employee Benefits
-Exempt Organizations
-International Tax
-Political Law
-Private Client
-Tax Controversies
-Tax Litigation
-White Collar Defense

For more information, please visit us at www.caplindrysdale.com.

Washington, DC Office:
One Thomas Circle, NW
Suite 1100
Washington, DC 20005
202.862.5000
        New York, NY Office:
600 Lexington Avenue
21st Floor 
New York, NY 10022
212.379.6000

___________________________

Disclaimer
This communication does not provide legal advice, nor does it create an attorney-client relationship with you or any other reader. If you require legal guidance in any specific situation, you should engage a qualified lawyer for that purpose. Prior results do not guarantee a similar outcome.

Attorney Advertising
It is possible that under the laws, rules, or regulations of certain jurisdictions, this may be construed as an advertisement or solicitation.

© 2017 Caplin & Drysdale, Chartered
All Rights Reserved.

Related Professionals

Related Practices