Collected References, available on-line as
References for: Gio Wiederhold: Valuing Intellectual Capital, Multinationals and Taxhavens Springer Verlag 2013
VIC Citations This list includes all the references cited in Valuing Intelectual Capital [Wiederhold:13], as well as others that I have persused. For general information, I chose in [Wiederhold:13] a recent publication for citation, trusting that it will be easier to locate and cite earlier work. As is common in tax matters, opinions abound. Refereed material is italicized. Entries cited and listed in the Reference section of [Wiederhold:13] have [bold identifiers]; entries considered, but not cited are marked ‡. Entries marked † were used for [Wiederhold:06] . Transcription into the spreadsheet for VIC are marked [VIC xls /worksheet]. Shaded text is to be omitted in publication, but helpful for search or as an aide de memoire. I am adding [VIC chap#.section#] references. The notation [ACM] indicates its use in an CACM blog. A notation ε indicates its relevance to a draft article for a book on Ecological, Societal, and Technological Risks.
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[AakerJ:94] D. Aaker and R. Jacobson ‘‘The Financial Information Content of Perceived Quality”; Journal of Marketing Research, 1994. The benefits of advertising are limited to the period in which the expenditures are incurred. [VIC Ch.3.3].. [Aaron:13B] Henry J. Aaron: Tax Reform? Between a Rock and a Hard Place; Huffington Post, Brookings, 15 Jan. 2013. The 1986 reforms shifted $1T (adjusted) from individuals to Corportations over 10 years. Mobility of capital and the proliferation of multinatinal companies prevents such a solution now. Must raise personal income tax.[VIC 10.7.4] [Aaron:13G] Henry J. Aaron: You Get What You Pay For: Lessons From the IRS Scandal; Brookings, 31 May 2013. Only 1% of returns is audited. $450B is uncollected. Each dollar spent auditing yields $8. [VIC 8,7.3] [AbahoonieA:10]‡ Edward Abahoonie and Liah Alfonso: Deferred taxes on foreign earnings: A road map; Price Waterhouse Coopers (PwC), Dec.2010, updated 2012 www.pwc/us/tax. (with a nice picture of Luzern, Switzerland). [VIC 2.6] [Abba:97]† Wayne Abba: "Earned Value Management: Reconciling Government and Commercial Practices"; Program Manager, Vol.26, pp.58–69. [VIC 8.7.2] [AbdelHamid:93] T.K. Abdel-Hamid: "Adapting, correcting, and perfecting software estimates: a maintenance metaphor"; IEEE Computer, Vol.26 no.3, March 1993, pp.20-29. [VIC Chap.5.3.3.5] [AbrahamL:90] Magid M. Abraham and Leonard M. Lodish: “Getting the Most Out of Advertising and Promotion”; Harvard Business Review, May-June 1990. Profits due to advertising. [VIC Ch.3.3]. [AbrahamLLLRS:95] M.M. Abraham, L.M. Lodish, J. Livelsberger, B. Lubetkin, B. Richardson, and M.E. Stevens, ‘‘A Summary of Fifty-Five In- Market Experimental Estimates of the Long-Term Effect of TV Advertising,’’ Marketing Science, 1995. Profits due to advertising. The longterm 3-year effects double the short tem (<1 year) effects. [VIC Ch.3.3].. [AbramitzkyB:04] Ran Abramitzky and Fabio Braggion: Malthusian and Neo-Malthusian Theories; Oxford Encyclopedia of Economic History, Oxford University Press, 2004. At Stanford University.[VIC 9.4.5] [AcemogluJR:02] Daron Acemoglu, Simon Johnson and James A. Robinson: "Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution"; The Quarterly Journal of Economics, : Oxford University Press Vol. 117, No. 4 (Nov., 2002), pp. 1231- 1294. cited as [Robinson:02] ?
1
[Ackoff:04] Russell L. Ackoff: “Transforming the Systems Movement”; Third International Conference on Systems Thinking in Management, ICSTM '04, 26 May 2004; http://www.acasa.upenn.edu/RLAConfPaper.pdf. [VIC Chap.10.13] [Acritas:10] Rankings of law firms employed for cross-border litigation and deals; BBW 27Sep.2010, p20. [VIC 8.7.4] [ACS360:09] Financial Accounting Standards Board: Property, Plant, and Equipment; Accounting Standards Codification 360-10-35-4, Depreciation, Version 3.0, 1 July 2009. Depreciation is a method of allocation, not of valuation. [VIC 3.4] [Actionaid:11] ActionAid: Addicted to tax havens, the secret life of the FTSE 100; ActionAid, UK, Oct.2011, http://www.actionaid.org.uk/doc_lib/addicted_to_tax_havens.pdfl. [VIC 8.5.3] [Adams:97] James D. Adams, 1997. "The Structure of Firm R&D and the Factor Intensity of Production“; NBER Working Papers 6099, National Bureau of Economic Research, Inc.; also Working Papers 97-15, Center for Economic Studies, U.S. Census Bureau. [VIC 5.7] [Adams:12] Scott Adams: Dilbert; Famous Quotes, Retrieved Jan. 2012. “There are many methods for predicting the future. For example, you can read horoscopes, tea leaves, tarot cards, or crystal balls. Collectively, these methods are known as `nutty methods.’ Or you can put well-researched facts into sophisticated computer models, more commonly referred to as `a complete waste of time’." [VIC 5.1] [ADLittle:85] ADLittle: Development of a Methodology for Estimating the Taxpayer Paperwork Burden; IRS, June 1988. Time cost for individual and business taxpayers $1813M, $3,614M = total 5,427M hours. [VIC xls /irs] [VIC 8.2.2] [AF:04] The Appraisal Foundation: Uniform Standards of Professional Appraisal Practice; Standard 9, 2004 Edition. [VIC .3.3] [AgarwalG:99] Rajshree Agarwal and Michael Gort: First Mover Advantage and the Speed of Competitive Entry, 1887-1986; National Bureau of Economic Research (NBER), Sep.1999; SSRN library http://ssrn.com/abstract=167330. First-to-market [VIC 7.4.1] [AghionH:94] Philippe Aghion and Peter Howitt: "Growth and Unemployment“; Review of Economic Studies, Wiley Blackwell, Vol.61 no.3), pp.477-494, July 1994; CEPR Discussion Papers 577. [AGN:08]‡ AGN International: The AGN European Region - 2008 Corporate Tax Survey, 2008
[Albinus:12]‡ Phil Albinus: Fleeing Dodd-Frank, Hedge Funds Follow the Sun; Advanced Trading, 5 Jan 2012. Taxhavens protect bonuses. See [Kahn:12] .As of early November, the number of funds located in Malta had grown to more than 500 with 8 billion euros ($10.7 billion) under management from 165 funds with less than 5 billion euros under management in 2006, according to the Malta Financial Services Authority, or MFSA. [AlcockBG:09] Alistair Alcock, John Bird, and Steve Gale: Alcock, Bird and Gale on the Companies Act 2006; Jordans, 2009. s.172 CA 2006, "to promote the success of the company for the benefit of its members as a whole". It sets out six factors to which a director must have regards in fulfilling the duty to promote success. These are: 1. the likely consequences of any decision in the long term, 2.the interests of the company’s employees, 3.the need to foster the company’s business relationships with suppliers, customers and others, 4.the impact of the company’s operations on the community and the environment, 5.the desirability of the company maintaining a reputation for high standards of business conduct, and, 6.the need to act fairly as between members of a
company. This represents a considerable departure from the traditional notion that directors' duties are owed only to the company. [Alderman:10] Liz Alderman: ”In Ireland, Low Corporate Taxes Go Untouched”; The New York Times, 25 Nov.2010. “The corporate tax is one of the pillars of Ireland’s economy, because it drives exports and jobs, and creates tax revenues for the government”; said Paul Duffy, a vice president at Pfizer in Ireland, one of the biggest multinational employers here. Raising the tax could scare away companies and “would damage a recovery and our ability to repay the massive debts we’ve taken on”; he said. /Critics, however, say that in addition to siphoning business from countries with higher corporate tax rates, some multinationals operating under Ireland’s tax rules use complicated schemes to move profits in and out of subsidiaries there. In some cases, that allows them to lower their effective tax rate, they say. /That has opened Ireland to criticism from countries like Germany, where Chancellor Angela Merkel must justify why taxpayers should help pay for another bailout package. The argument is that Ireland could be collecting more money from the companies it has lured. /Tax rates have become a contentious issue in Europe, where governments are competing as never before to lure badly needed foreign investments as the economic crisis weighs on growth. [Ali:15]ε Feroz Ali : The Access Regime: Patent Law Reforms for Affordable Medicines; Oxford Univ. Press, 2015. India has often been called the ‘pharmacy of the developing world’ for providing high-quality and affordable generic and life-saving medicines. Having developed its own alternative model of conforming to the TRIPS Agreement, which is perceived as being in direct opposition to the US model of patent law, India has faced stiff opposition to its patent law reforms in the form of counter-provisions in the Free Trade Agreements entered into by the US and other countries. [Alice:13} Alice Corporation v. CLS Bank International and CLS Services Ltd: Petion for a Writ of Certiorari to The United States Court of Appeals for the Federal Circuit; Carter G. Phillips, 2 Sep. 2013. On patentability of concepts embodied in computer systems. [AlmDM:04] James Alm, John Deskins, And Michael McKee: Tax Evasion and Entrepreneurship: The Effect of Income reporting Policies on Evasion; 97th Annual Conference of the National Tax Association, Minneapolis, MN, Nov.2004. An audit rate of 10% vs 30% doubles non-compliance. [Allain:12]ε Jean Allain (editor): The Legal Understanding of Slavery: From the Historical to the Contemporary; Oxford University Press, 2012. [Allan:11] Robert B. Allen ([email protected]): Information: A Fundamental Construct; 3 [AltmanEa:12] Roger Altman, William Daley, John Podesta, Robert Rubin, Leslie Samuels,Lawrence Summers, Neera Tanden, and Antonio Weiss with Michael Ettlinger, Seth Hanlon, Michael Linden: Reforming Our Tax System, Reducing Our Deficit; American Progress, Dec. 2012 [AltshulerACK:08] Rosanne Altshuler, Alan J. Auerbach, Michael Cooper, and Mathew Knittel: Understanding U.S. Corporate Tax Losses; NBER Tax Policy and the Economy Conference, Washington, DC, 6.Oct.2008. Tax expenditures , Many Graphs. Uses form 1120 data. Cooper and Knittel are with the Treasury.”...taxpayers can engage in .excessive. or in some other way unintended use of legal tax provisions to reduce tax liabilities.” [AltshulerG:01] Rosanne Altshuler and Harry Grubert: “Where Will They Go if We Go Territorial? Dividend Exemption and the Foreign Location Decisions of U.S. Multinational Corporations”; National Tax Journal, Vol.54 No.4, Dec.2001, pp.787-809. [AltshulerM:96]‡ Rosanne Altshuler and Jack M. Mintz: “United States Interest-Allocation Rules, Effects and Policy”; in [Slemrod:96] . [AltshulerHT:10] Rosanne Altshuler, Benjamin Harris, and Eric Toder: “Capital Income Taxation and Progressivity in a Global Economy”; Virginia Tax Review, Vol.30, Fall 2010, pp.355-388. Tax gains at 28% and dividends fully yields $87B to reduce corporate tax from 35% to 26%. [Alvarez:14] Lizette Alvarez: “Economy and Crime Spur New Puerto Rican Exodus”; The New York Times, 8 Feb. 2014. Some references of the effect of the 10-year Par936 Puero Rican Tax lopphole. [Amadi:02] Confidence W. Amadi: Double Taxation of Dividends: A Clarification [Andriessen:03] Daniel Andriessen: Making Sense of Intellectual Capital: Designing a Method for the Valuation of Intangibles; Butterworth-Heinemann, Dec. 2003. Ex KPMG author, 25 methods sketched covering Management, human resources, company performance, accounting, and business transactions. Methods are critiqued; no quantitative results. [AndrusP:09] Joseph L. Andrus and Irving H. Plotkin: PKN Alert United States – Prsident Obama’s proposal to limit shifting of income through intangible property transfers; Pricing Knowledge Network, PricewaterhouseCoopers, 22 May 2009. Calls §936(h)(3)(B) a laundry list, but laundry lists do not have an entry for `other similar items’ [AngellL:15] Ian O Angell and David S. Lesperance: Flight of the Golden Geese, How the 1% Matter to the 99%; Bullhorn Press, Jan.2015, 100 pp. Advocates that HighWorth (Geese) individuals, specifically in UK and EU, should shift residence to places that osme consider taxhavens. The second half is an ad for David's consulting on shifting domicile business. no systemic recommendations. Amazon review: beautifully illustrates (with figures, facts & examples) how the policies of envy ("Tax the Rich") are both having the negative impact on the local economies and the ways out of this problem. [AngusNSW:10] Barbara Angus, ToAndruem Neubig, Eric Solomon, and Mark Weinberger: “The U.S. International Tax System at a Crossroads”; Tax Analysts, E&Y, 2010. Companies will invest if taxed more. Tables of Fortune 500 global companies. importance of intangibles and services. “Changes to the international tax rules should not be undertaken piecemeal.” [AnkenB:11] F. Anken and J.E. Beasley: Corporate structure optimisation for multinational companies; Omega, 2011. [AnsonA:03] Weston Anson and Chaitali Ahya: How to Make Transfer Pricing Work for IP and Intangible Assets; Int'l Tax Rev., Vol.1514 (2003-2004) 5 [Argy:06] Victor Argy: The Postware International Money Crisis: An Analysis; Taylor and Francis, 1981, reprinted 2006 by Routledge. Any changes? Eurodollar reserves in 1976, 222.1B SDR. $485B per Morgan Guarantee. [VIC 4.4] [ArnoldM:93] Brian J. Arnold and Thomas E. McDonnell: Report on the Invitational Conference on Transfer Pricing: The Allocation of Income and Expenses Among Countries, Tax Notes International, Vol.7, 1507 , 13 Dec.1993. Use of cost sharing by oil companies, equal risk. [ArnoldM:02] B.J. Arnold and, M.J. McIntyre: International Tax Primer; Kluwer Law International, 2002. [Aron:83]† J.D. Aron: The System Development Process, The Programming Team (Part II); Addison-Wesley, 1983. The input to software IP generation, a component of intelectual capital. Coherence and complementarity. [Arora:13] Jaime Arora: Negotiating Transfer Pricing Safe Harbors Will Take More Time, Maruca Says; Tax Notes Today, 5 Jun.2013. Unclear that the concept will be effective as long as sometax havens are left. [Arthur:83]† Lowell Jay Arthur: Programming Productivity; Chapter 8 on Maintenance, Wiley, 1983. [ArthurEa:12]‡ Brian P. Arthur: IRS Issues Final Regulations for Cost Sharing Arrangements; Baker & McKenzie, 9 Jan 2012. The platform approach to transfer pricing is now official, and applicable to transactions made after 5 Jan.2009. [ASCAP:10] The American Society of Composers, Authors and Publishers: Customer licensees; ASCAP, 2010, [Atkinson:12] Robert D. Atkinson: Enough is Enough: Confronting Chinese Innovation Mercantilism; The Information Technology & Innovation Foundation, Washington DC (ITIF) report, 28 Feb.2012, 7 [Austin:08] David Austin: Effects of Gasoline Prices on Driving Behaviour and Vehicle Markets; Congressional Budget Office, Congress of the United States, Jan.2008. [AutorS:17] David Autor and Anna Salomons1 Does Productivity Growth Threaten Employment?; Brookings, 19 Jun.2017. the expansion of services relative to other sectors has tended to favor high- and low-skill workers at the expense of middle-skill workers [AviYonah:95] Reuven S. Avi-Yonah: “The Rise and Fall of Arm's Length: A Study in the Evolution of U.S. International Taxation”; Va. Tax Rev., Vol.15, 1995, p89. [AviYonah:02] Reuven S. Avi-Yonah: For Haven's Sake: Reflections on Inversion Transactions; University of Michigan Law School, Tax Notes, Vol.95 no.12, June 17, 2002. ??AAAA [AviYonahC:08]‡ Reuven S. Avi-Yonah and Kimberly Clausing: “Reforming Corporate Taxation in a Global Economy: A Proposal to Adopt Formulary Apportionment”; in Paths to Prosperity [FurmanB:08]‡, 2008, pp.319-344, 2008. [AviYonah:12]‡ Reuven S. Avi-Yonah: Statement to Congress; University of Michigan School of Law, Permanent Subcommittee on Investigations, U.S. Congress, 20 Sep.2012. Commensurate, was emphasized in 1986, ignored again by new Cost-sharing rules, low payment for R&D, high income offshore. Split. CFC look-through regulation misused. Disregarded lower CFCs. Short term loan is only one ploy for repatriation. Blames IRS rules on RAB, override costsharing agreements, treat inatngibles properly. Misvaluation. Do away with look-through rule and check the box..MS Puerto Rico where US IP rights reside earn on the average 45K/a. [Avril:11]‡ Hillaire Avril: Africa, Emerging Trend Towards Establishing Offshore Tax Havens; Interpress Service (IPS), 17 Aug.2011. [Ayal:75]† Igal Ayal: Simple Models for Monitoring New Product Performance; Decision Sciences, 1975, Vol.6, pp.221-236. Aggregation and repurchase. BBBBBBBB [B. ... ] are references to [Wiederhold:13] Gio Wiederhold Valuing Intellectual Capital, Appendix B, Laws and Regulations. [B&McK:09] North American Tax Practice Group: Transfer Pricing, Managing Intercompany Pricing in the 21st Century; Baker & McKenzie, 2009. [B&McK:11] 2011 Aug.workshop materials in HMAT.references/2011 Aug.workshop materials in HMAT/references/Baker&McKenzie11 [Babcock:68,94] Henry A. Babcock: Appraisal Principles and Procedures; American Society of Appraisers, 1968, fifth edition 1994. [Bachman:10] Helana Bachman: “Why More U.S. Expatriates Are turning in their Passports; Time Magazine World, 20 March 2010. [Bachman:12] Helana Bachman: “Why U.S. Tax evaders Can no Longer Count on Swiss Secrecy; Time Magazine World, 15 March 2012. [BaerZ:09] Nikolaus Baer and Robert Zeidman @ Zeidman Consulting: Measuring Software Evolution with Changing Lines of Code; VIP-CATA conference 10 April 2009, 24th International Conference on Computers and Their Applications, New Orleans, LA. Cites [Wiederhold:2006] . [BahreeB:12] [VIC xls /taxhavens] [Bahl:16] Rajiv Bahl: The Economic Reactor, Creating Growth and Prosperity; Rupa Press, India. 2016. Economic Model, and advice, with some examples from India, by an entrepreneuar, i.e., a non- economist. Compares many countries. Effective and destructive taxes. Need to limit bureaucracy. Much makes sense, but is not easy to achieve. [BaileyEa:08] Paul Bailey, Paul Brown, Michael Potter, and Peter.Wells: “A practical comparison of firm valuation models: cash flow, dividend and income”;. JASSA, The FINSIA Journal of Applied Finance, Issue 2, 2008, pp. 22-28. Compares lited Australian firms Free Cash Flow versus dividenr or equity. 5-year window [BajajBN:99] : Mukesh Bajaj, Brian Becker, and Jonathan Neuberger: Transfer Pricing and Foreign Exchange Risk; Transfer Pricing Report, Vol.8 no.6, 15 July1999, pp.251-259. Have copy. Hedging, insurance, broaden the interquartile range to account for risk. [BajajDFS:01] : Mukesh Bajaj (Managing Director of Finance and Damages Practice of LECG, LLC), David J. Denis**, Stephen P. Ferris & Atulya Sarin: Firm Value and Marketability Discounts; working paper, SSRN. Managing Director of Finance and Damages Practice of LECG, LLC [Baker:05] Raymond W. Baker: Capitalism’s Achilles heel, Dirty Money and How to Renew the Free Market System; Wiley, 2005. [Baker:07] Leroy Baker: Halliburton Feels Democrat Wrath After Dubai Move; Tax-News.com, New York, 15 March 2007. [Baker:07I] Leroy Baker: IRS Locks Stable Door After IBM’s Tax Horse Bolts; Tax-News.com, New York, 8 June 2007. Stock repurchase financed by offshore tax-free earnings. [Baker:10] Raymond Baker: “Transparence First”; The American Interest, July-Aug.1010. [Baker:11] George Baker: “No Death, no taxes, The libertarian futurism of a Silicon Valley Billionaire”; The New Yorker, 28 Nov.2011. Peter Thiel’s background, attitudes, and plans. [BaldwinK:04] Agglomeration, Integration and Tax Harmonization; European Economic Review, vol.48 No.1 p-23. In [PalanMC:] . [BaltagiR:05] Badi H. Baltagi and Daniel P. Rich: "Skill-biased technical change in US manufacturing: a general index approach“; Journal of Econometrics, Elsevier, Vol.126 no.2), pp.549-570, June. 2005; IZA Discussion Papers 841, Institute for the Study of Labor (IZA). [Banks:10] Nancy Turner Banks: AIDS, Opium, Diamonds, and Empire: The Deadly Virus of International Greed; iUniverse, Kindle , May 2010 [Banner:80] Donald W. Banner: "Pricing the Technology"; Domestic & International Licensing of Technology 1980, T. Arnold and J.T. McCarthy, Eds., Practi(s/c)ing Law Institute, 1980. Not at SUL. The source appears to be an annual treatise by an institute within NYU, but is not now publicly available. ??VVVV [Baran:6x] Paul Baran Baran wrote about in the early 60's: that computer networking would bring about the decline of governments. JM had hoped to ask Kleinrock why it is that we so rarely hear of Paul Baran ("BEAR-en) NNNN [Baranson:78] Jack Baranson: Technology and the Multinationals; Lexington Books, 1978. p. 64. Cited by [Caves:83]‡. Offshore movement of IP. Have chapter around p. 33; also see p.64. [Barber:02] Benjamin R. Barber: “A Failure of Democracy, Not Capitalism”; The New York Times, 29 July 2002. [BarIlanS:96] Avner Bar-Ilan and William C. Strange: "Investment Lags"; American Economic Review, American Economic Association, Vol. 86 No.3,1996, pp. 610-622. Lag [BarL:10]‡ Michael Bar and Oksana Leukhina: The Role of Mortality in the Transmission of Knowledge; Journal of Economic Growth, Vol 15 no.4 Dec.2010. Bar is at SFSU Historical study of the years of the plague: 1650-1880. [Barthold:11] Thomas A. Barthold: Response to Lloyd Doggett, containing revenue estimates for a new repatriation under IRC 965; Joint Committee on Taxation, Congress of the United States, 15 April 2011. [BarIlanS:96]‡ Avner Bar-Ilan and William C. Strange: "Investment Lags"; American Economic Review, American Economic Association, Vol.86 No.3,1996, pp.610-622. [BarlettS:00] Donald L. Barlett and James B. Steel: The Great American Tax Dodge, How Spiraling Fraud and Avoidance Are Killing Fairness, Destroying the Income Tax, and Costing You; Little, Brown, and Co., 2000. Have. Diatribe. Belize IRS staff inadequate p.21. No resources to chck EITC. p.27 . IRS cannot track extraterritorial transfers p.55. effect of Vereinsgesetz p67. Few Shjam tranascations get caught p.73 IRS unable to deal with Internet transactions p89.Domonizing the IRS p119, Constraints on IRS personnel p.123.audits of HNWI slow p.164.. sales tax p246. 9 [Barra:98]† BARRA: United States Equity Version 3 (E3); MSCI, BARRA, Berkeley, CA, 1998. In 2004 acquired by MSCI, formerly part of Morgan Stanley. [Barrett:12]‡ Paul M. Barrett: “White Shoe Blues”; Bloomberg Businessweek; 23 April, 2012. [Bartlett:81]‡ Bruce Bartlett: Reaganomics: Supply Side Economics in Action; Arlington House, 1981. [Bartlett:06]‡ Bruce Bartlett: Impostor: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy; Doubleday, 2006. [Bartlett:09]‡ Bruce Bartlett: The New American Economy, The Failure of Reaganomics and a New Way Forward; Palgrave McMillan, 2009. [Bartlett:12B] Bruce Bartlett: The Benefit and the Burden, Tax Reform, Why We Need It and What It Will Take; Simon and Schuster, 2012. Have. Excellent, covers all aspects of taxation and the imbalances created. But this three page proposal at the end has no numbers, exactly what he criticizes others about. [VIC xls /taxes] [Bartlett:12G]‡ Bruce Bartlett, GOP: All Talk on Eliminating Tax Breaks – No Action, Fiscal Times, Aug. 24, 2012, http://www.thefiscaltimes.com/Columns/2012/08/24/GOP-All-Talk- on-Eliminating-Tax-Breaks-No-Action.aspx#page1. [Bartlett:12T] Bruce Bartlett: How to Avoid Reinventing the Wheel on Tax Reform; The New York Times, 24, 31 Jan. 2012. Avoid gimmicks and focus on corporate taxation. [BartschW:16] Mathias Bartsch and Andreas Wassermann: “Hochhaus steurerfrei zu verkaufen’: Der Spiegel, no..21, 2016, pp.38-39. The sale of Eurotower by the European Central Bank, avoiding tax. [Basili:90]† Victor Basili: "Viewing Maintenance as Reuse-Oriented Software Development"; IEEE Software, Vol.7 No.1, Jan.1990, pp.19-25. [Bassett:14] Jessica Bassett: House Subcommittee Airs Debate Over `Secret Law’; RegBlog, Univ.of Pennsylvania Program on Regulation, 11 Feb.2014. Protected text on standards incorporated invisibly in regulation by references [VIC B.3] [BassettCG:09] Barton W. Bassett, William F. Colgin jr., and Neal A Gordon: Veritas v. Commiossioner: Tax Court Decision Exposes Flaws in Common IRS Cost-Sharing Buy-in Theories, Morgan Lewios Tax Practice, Palo Alto, 16 dec. 2009. IRS includes workforce in place, goodwill, Going- concern value. Shows unpreparedness of IRS expert witness [Bastiat:1850] Frederick Bastiat: What is seen and What is Not seen; delivered to the National Assembly, Paris, France. July 1850; in Essays in The economics of Freedom, What your Professors won’t tell you, Frederick A. Hayek . Original in French. have on Kindle [BathalaMR:84] C.T. Bathala, K.P. Moon, and R.P. Ramesh: “Managerial Ownership, Debt Policy, and the Impact of Institutional Holdings: An Agency Perspective”; Financial Management, Vol.23 no.3, Autumn 1994, pp 38-50. . Percentage of revenue spent on R&D and advertising = 3.5 percent in cross-section [Basse:11]ε Søren Hetland Basse: Science History and The Future; Royal Danish Library reg.1992, translated and updated 11 Feb.2011, [Baumol:72]‡ William J. Baumol: "On Taxation and the Control of Externalities", American Economic Review, Vol.62 no.3, Jun.1972, pp.307–322; JSTOR 1803378. [Basel:06] Basel Committee on Bank Supervision: International Convergence of Capital Measurement and Capital Standards; Bank for International Settlements, June 2006 [Baxandall:12] Phineas Baxandall: Rogues Gallery of Major Corporate Legal Settlements; U.S. PIRG, 17 April 2012. [Baxandall FS:12] Phineas Baxandall, Abigail Caplovitz Field, and Dan Smith: Picking Up the Tab, Average Citizens and Small Businesses Pay the Price for Offshore Tax Havens; CALPIRG, April 2012. Names many companies and has good references. [Baz:09] Aureliano Gonzales Baz: Manufacturing in Mexico: The Mexican In-Bond (Maquila) Program; Banco Nacional de Comercio Exterior, 2009, 11 [Belenzon:06] Sharon Belenzon: “Knowledge Flow and Sequential Innovation: Implications for Technology Diffusion, R&D and Market Value”; University of Oxford Department of Economics Discussion Paper series, No. 259, March 2006. Internalized spillovers of R&D increase corporate value over time; external cause loss (as MRI by EMI to GE). Based on patent renewals. [BelenzonS:15] Sharon Belenzon and Mark Schankerman: " Motivation and Sorting of Human Capital in Open Innovation"; Strategic Management Journal, Vol.36, 2015: pp. 795–800. "This paper studies how business models can be designed to tap effectively into open innovationlabor markets with heterogeneously motivated workers. Using data on open source software, weshow that motivations are diverse, and demonstrate how managers can strategically influence the flow of code contributions and their impact on project performance. Unlike previous literature using survey data, we exploit the observed pattern of project membership and codecontributions—the “revealed preference” of developers—to infer the motivations driving theirdecision to contribute. Developers strongly sort along key dimensions of the business model chosen by project managers, especially the degree of openness of the project license. The results indicatean important role for intrinsic motivation, reputation, and labor market signaling, and a more limited role for reciprocity. Copyright © 2014 John Wiley & Sons, Ltd" [Bell:09a] Kay Bell: Tempting the Tax Auditor; Bankrate.com, 2009. Internalized spillovers of R&D. But if internal is not or cannot be protected then the is loss (example MRI scanners EMI to GE). [Bell:09b] Kay Bell: Taxpayer Advocate calls for help; Bankrate.com, 9 Jan 2009. Shulman, olson. [Bell:11] Kevin A. Bell: Transfer Pricing: IRS to Elevate Transfer Pricing Function, Move Directly Under Deputy Commissioner; BNA Daily Tax Report, Dec.16, 2011. [Bell:12] Kay Bell: Taxpayer Advocate calls for help; Bankrate.com, 13 Aug. 2009. [Bellew:1734] Frank Bellew: Joe Miller’s Jests, with Copious Additions; T. Read, London, 1734; on Google eBooks, 2010. [Benioff:02]† Marc Benioff: "Salesforce.com: What Economic Downturn?; Destination CRM, www.destinationcrm.com/articles/default.asp?ArticleID=391, January 2002. [Benioff:09] Marc Beniff: Behind The Cloud, the Untold Story of how Salesforce Went From an Idea ... ; 2009. On Kindle [Bennett:11] Alison Bennett: Tax Regulations: 'Mayo' Ruling Raises Bar for Challenges To Tax Regulations, Practitioners Say; BNA Daily Tax Report, 14 Feb.2011. [Bennett:11D] Alison Bennett: IRS Unveils Bonus Depreciation Guidance Giving 2010 Election Flexibility; BNA Software, 30 March 2011. Revenue Procedure 2011-26, IRS offered guidance under the Small Business Jobs Act of 2010 (Pub. L. No.111-240), and the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (Pub. L. No.111-312). In general, the two laws extend the time that taxpayers already could take 50 percent bonus depreciation and add additional 100 percent bonus depreciation in some cases. [Bennett:11U] Drake Bennett: “Do the Unemployed Get a Second Act”; Bloomberg Businessweek, 14 Sep.2011. HHHH, WS Taxrates [BennetW:13] Is College Worth it?: A Former United States Secretary of Education and a Liberal Arts Graduate Expose the Broken Promise of Higher Education; Thomas Nelson, 2013. [BenningaS:97]‡ Simon Z. Benninga and Oded H. Sarig: Corporate Finance: A Valuation Approach; McGrawHill, 1997. Gordon Model in Chapter 1. [VIC App F5.12]. [BerleM:32]Adolf A. Berle, and Gardiner C. Means: The Modern Corporation and Private Property; Macmillan, 1932. Study about economic changes as property becomes primarily owned by corporations. Have. [BerleMWJ:91] Adolf A. Berle, Gardiner C. Means, Murray L. Weidenbaum, and Mark Jensen: The Modern Corporation and Private Property; 1991. [BerleM:32] with a new introduction. [BermanKC:06] Karen Berman and Joe Knight, with John Case: Financial intelligence: A Manager’s Guide to Knowing what the Numbers Really Mean; Harvard Business School Press, 2006. Many warnings on how reports can mislead. [BernardJS:06] Andrew Bernard, J. Jensen and Peter Schott: “Transfer Pricing by U.S.–Based Multinational Firms”; NBER working paper 12493, Aug.2006. Y2000 data. Direct price methods from shipping data. [Bernasek:10E] Anna Bernasek: The Economics of Integrity; Harper Studio, 2010. Have. [Bernasek:10T] Anna Bernasek: “Should Tax Bills Be Public Information?”; The New York Times, 13 Feb.2010. Quotes Kotlikoff, lenterSS [VIC xls /Forest] . [Berndt:91] Ernst R. Berndt: The practice of econometrics; Addison Wesley, 1991. Critical pages on file. Advertsing IP brand less than a year. [Bernstein:03]† Philip Bernstein: Remark at NLM/NSF planning meeting, Bethesda, MD, 3 Feb.2003. [Bernstein:14] Jared Bernstein: “Room for Small Deals on Tax Policy”; New York Times, 3 Feb.2014. Offshore holdings now $2T. Such funds allowed Microsoft to buy Nokia. [Berry:99] Charles H. Berry: ”Berry ratios, their Use and Misuse”; Journal of Global Transfer Pricing, CCH Kluwers, 1999. [BettendorfEa09]ε Leon Bettendorf, Michael P. Devereux, Albert van der Horst, Simon Loretz and Ruud A. de Mooij: Corporate tax harmonization in the European Union; CPB Document 133, Netherlands Bureau for Economic Policy Analysis, Nov.2009. Have, EU prefers formulary apportionment to gain a common taxbase: sales, assets, & employment . No harmonized rates. [BettendorfGvdH:06] Leon Bettendorf, Joeri Gorter, and Albert van der Horst: "Who benefits from tax competition in the European Union?“; CPB Document 125, CPB Netherlands Bureau for Economic Policy Analysis, 2006. 13 [BittkerEa:3] Boris L. Bittker et al.: Summary of Testimony of Panelists on tax Reform Topics; House Joint Committee on Internal Revenue Taxation, March 1973, 148 pp. Needless complexity. Depletion, [Bickley:11] James M. Bickley: Tax Reform: An Overview of Proposals in the 112th Congress; Congressional Research Service, R41591, 20 April 2011. [BierceEa:11] Bierce et al.: `Startup America’, A Vision for American Entrepreneurs, What Role Global American Entrepreneurship?; Bierce & Kenerson. Outsourcing-Law.com, 11 Feb.2011. No capital gains tax. Limited to C-corporations. [Bingham:12] Amy Bingham: “Robin Hood Activists Look to Make Fairy Tale a Realty”; ABC News, 19 June 2012. [Birnbaum:06] Jeffrey H. Birnbaum: “Taxing Lessons, 20 Years in the Making”; The Washington Post, 22 Oct.2006. [BirnbaumM:87] Jeffrey H. Birnbaum and Alan S. Murray: Showdown at Gucci Gullch, Lawmakers, Lobbyists and the Unlikely Triumph of Tax Reform; 1987, Vintage reprint edition, 1988. On the passage of the tax reform act of 1986, well described intercations. It worked relatively well. [VIC Chap.10.1.1, Chap.6.3.2, Chap 10.10.2 [Birnkrant:10] H. Birnkrant: The Service's Approach to Transfer Pricing Takes a Drubbing from the Tax Court In Veritas; Journal of Taxation , Vol.112 no.4, 2010, page 197. [VIC Chap.5.4, F5.7] [Birstingl:16] Andrew Bisrstingl: Buyback Quarterly; Factset, S&P500, 20 Sep..2016. Market cap data. [Bischoff:14] Bill Bischoff: Earn less than $229,000? Great news; Market Watch, 13 May 2014. 2014 Tax rates Indiv rates base/ long-term capital gains and qualified dividends 10%/0%, 15%/0%, 25%/15%, 28%/15%, 33%/15%, and 35%/15%, couples with income above $450,000 39.6%/20% + medicare 3.8%. Also aces for real esate depreciation, collectibles, [VIC Chap.8.6.1] [Bishop:08] Keith Paul Bishop: “Silver Standard”; Los Angeles Lawyer, Nov.2008, pp.32-42. California and Nevada corporate taxes. Nevada has 2.66% of out-of-state corporations, while Delaware has 91% of Calif. Corps, Local Ca. 0.19% only [BittkerEa:3] Boris L. Bittker et al.: Summary of Testimony of Panelists on tax Reform Topics; House Joint Committee on Internal Revenue Taxation, March 1973, 148 pp. Needless complexity. Depletion, [BittonHT:97] Dina Bitton, Michael D. Hanrahan, and C. Turbyfill: “Performance of Complex Queries in Main Memory Database Systems”; Proc.IEEE CS Intl.Conf. on Data Engineering 3, Feb.1987. [Bivens:11]‡ Josh Bivens: Failure by Design: The Story behind America's Broken Economy; Cornell University Press, Economic Policy Institute, 2011. Bought, past statistics, only vague recommendations. [Bizac:93] Rene Bizac: Transfers of Profits: The New Article 26 of the Belgian Income Tax Code and Article 57 of the French General Tax Code - Siamese Twins? (Part Two); INTERTAX 420, 430, Sep.1993. [Black:96] Fischer Black: Noise; Journal of Finance, July 1986 . Due to noise a range of two can be expected in the market [p.530-533] . [BlackJS:72] Fischer Black Black, Michael C. Jensen & Myron Scholes:m"The Capital Asset Pricing Model: Some Empirical Tests, in Studies in the Theory of Capital Markets; pp.85-87 in [Jensen:72] ed. 1972; [Blagdon:13] Jeff Blagdon: Twitter the latest Company looking to play the tax avoidance Shell game; The Verge, 19 Oct.2013, www.theverge.com/2013/10/19/4854306/.... [ACM]. [BlairM:06] David B. Blair and Dwight N. Mersereau: “Chief Counsel revamps case-specific advice procedures to match LMSB's new enforcement paradigms”; The Tax Executive, July-August, 2006. [Blake:10] Rich Blake: Smaller Fish to Fry – IRS targets self-Employed; ABC News, 9April 2010. $345B. In 2006, the IRS conducted around 1.2 million examinations of individuals who earned less than $200,000; last year, there were around 1.3 million of those types of examinations. Still, roughly 90 percent of the 1.4 million IRS audits conducted in 2009 involved persons earning under $200,000. By comparison, the IRS conducted just 28,349 examinations of individuals who earned more than $1 million. The bulk of the agency's audit resources are allocated to its Small Business/Self Employment division. 150000B for self-employed schedule C filers. [Blessing:09]‡ Peter H. Blessing: testimony, Hearing on Banking Secrecy Practices and Wealthy American Taxpayers; The Subcommittee on Select Revenue Measures of the House. Committee on Ways and Means, 111th Cong. 2, 2009 http://waysandmeans.house.gov/media/pdf/111/pbless.pdf (, Partner, Shearman & Sterling “It never will be possible to eliminate criminal or fraudulent behavior in respect of financial accounts, even such behavior on a very large scale.”). [Block:09] Cheryl D.Block: “Corporate Taxation: Examples and Explanations 4th edition”; Aspen Publishers, 2004. [Blodget:13] Henry Blodget:: How Snapchat Plans To Make Money; Business Insider, 20 Nov.2013. Nice layout for a startup valuation. [Bloomberg:12] Bloomberg View: “The Silliness of Soak-the-Rich Schemes”; Bloomberg Businessweek, 23 Mar 2012. Based on HM Treasury study the 50% tax would only collect £2.4 instead of £7.8. Better get original study. 91 [VIC xls /taxproposals] [Bloomquist:03]‡ Kim M. Bloomquist: Tax Evasion, Income Inequality and Opportunity Costs of Compliance; 96th Annual Conference of the National Tax Association, 2003. Senior Economist, Internal Revenue Service Office of Research: widening income inequality contributes to the propensity to evade [Blouin:12]‡ Jennifer Blouin: “Taxation of Multinational Corporations”; Foundations and Trends® in Accounting: Vol.6 no.1, 2012, pp 1–64. http://dx.doi.org/10.1561/1400000017 Location affected by taxation. [BlouinKR:12]‡ Jennifer L. Blouin Linda P. Krull, and Leslie A. Robinson: Where in the world are `permanently reinvested’ earnings?; SSRN 2154662, Sept. 2012; The Accounting Review, Vol.87 no.5, Sept. 2012, pp.1463-1491. Regression on data from 1999 to 2004.. Uses permanent, although indefinitely is actually the expression used, refers to [BlouinKR:12A]‡ [BlouinKR:12A] : Jennifer L. Blouin Linda P. Krull, and Leslie A. Robinson “Is U.S. Multinational Dividend Repatrition Policy Influenced by Reporting Incentives?” [BLS:07]‡ Bureau of Labor Statistics: National Employment and Wage Data Survey; May 2007. [BLS:04?]‡ 4663 jobs lost 1Q94 [BLS:04]‡ News USDL 04-148 BLS releases 2002-12 Employment Projections. [BLS:11] Establishment Data Historical Employment (employees on nonfarm payrolls 1961 to April 2010, 15 [Bohr:18] Niels Bohr: "It's hard to make predictions, especially about the future”; quoting a Danish expression in 1918. U.S.A., 22 Dec 2017. [Branch:74] Ben S. Branch: "Research and Development and Profits: A Distributed Lag Analysis"; Journal of Political Economy, September-Oct.1974, pp.999-1011. Uses patents as a metric of R&D, lead to short lags fom invention to sales. [Branch:02] Ben Branch: “The Flat Tax: How to Fix It”; Presented to the 1997 Eastern Finance Association meetings; Business Quest; http://www.westga.edu/~bquest/202/flattax.htm>. Useful justification of assumptions. 25%flat for income + SSn 4100 exemption. Taxes currently are NOT really progressive ! (U mass, finance), evasion and avoidance. [BranchC:10] Ben Branch and Cosette Chichirau: "Mispricing versus Risk Premiums in R&D Intensive Firms"; International Review of Financial Analysis. Vol.19, Issue 5, Dec.2010, pp.358-367. [BranchT:05] Ben Branch and Gary Tameo: "Managing a Pension Plan Shutdown in Chapter 7"; Journal of Corporate Renewal, Vol.18 No.7, July 2005, July 2005, pp.8-13. [BranscombEa:91]† L. Branscomb (chair) et al: Intellectual Property Issues in Software; Computer Science and Telecommunications Board, National Research Council, National Academy Press, 1991, 17 [BronfenbrennerL:04] Kate Bronfenbrenner and Stephanie Luce: The Changing Nature of Corporate Global Restructuring: The Impact of Production Shifts on Jobs in the US, China, and Around the Globe; Cornell University, Oct.2004, [BruinsESS:23] M. Bruins, M. Einaudi, M. Seligman and Sir Josiah Stamp: Theoretical Study of Double Taxation; for League of Nations, report (document F.19) published in March 1923. [BrunerRR:18] Jennifer Bruner. Dylan G. Rassier. And Kim J. Ruhl: Multinational Profit Shifting and Measures Throughout Economic Accounts; NBER Working Paper 24915, Aug. 2018, http://www.nber.org/papers/w24915. [Brynjolfsson:98]† Erik Brynjolfsson and Lorin Hitt: "Beyond the Productivity Paradox"; Communications of the ACM, Vol.41, No.8, August 1998, pp.49-55. Finley Intro : Economists estimate that adjusting for U.S. multinationals’ shifting of profit into low-taxed foreign holding companies results in significant changes to macroeconomic statistics, including a 1.5 percent increase in U.S. GDP. [Bucci:03] Alberto Bucci: "R&D, Imperfect Competition and Growth with Human Capital Accumulation“; Scottish Journal of Political Economy, Scottish Economic Society, Vol.vol.50 no.4, 2003, pp.417-439, 2009. Human resources will move to where it is most profitably employed, no tax effects, theroretical. [Buchheit:12] Paul Buchheit: Who Takes the Gold for Tax Avoidance in 2011?; Nation of Change, 9 Apr 2012 19 [Burman:11] Leonard E. Burman: Tax Reform Options: Marginal Rates on High-Income Taxpayers, Capital Gains, and Dividends; Statement before the Senate Committee on Fianace, 14 Sep.2011. Tax capital gains as income, use revenue to cut corporate tax. Nice graphs. [Burman:99] Leonard E. Burman: The Labyrinth of Capital Gains Policy: a Guide for the Perplexed; The Bookins Institution, 1999. [BurmanGT:08] Leonard E. Burman, Christopher Geissler, and Eric J. Toder: “How Big Are Total Individual Income Tax Expenditures, and Who Benefits from Them?”; American Economic Review, papers and proceedings, Vol.98 no.2, May 2008, pp.79-83. [BurnhamO:05] Paul Burnham and Larry Ozanne: Taxing Capital Income, Effective Rates and Approches to Reform; Congressional Budget Office, Congress of the United States, Oct.2005. Ignores IP, shows strong effect of borrowing versus equity financing. Proposes a.o non-deductabilty of interest and effect on effective tax rates, but not the amount lost. [Burns:12]‡ Alexander Burns: Romney Endorses Ryan Plan; Politico, 20 March 2012. [Burrows:14] Peter Burrows : “Growing Your Apps in Isolation”; Bloomberg BusinessWeek, 18 Dec 2014. [Bush:05] George W. Bush: President's Advisory Panel on Federal Tax Reform: "Simple, Fair, and Pro- Growth: Proposals to Fix America's Tax System"; 1 Nov. 2005, Doc 2005-22112, 2005 TNT 211-14. Comprehensive Business Income Tax (CBIT) proposal . To be applied to all businesses equally. Corporate intrest would not be deductinble, but taxed at 31.5% Eliminates taxation of dividendsd. Individual interest would not be taxed. [see Sullivan:11] ,[ Gideon:05] [BusinessWeek:05] BW: Taxes: A race to the bottom; 4 April 2005 [Butler:09] Eamonn Butler: "Save the tax havens – we need them"; The Times of London: 4 Dec 2009. [Byrne:12] Janet Byrne (ed.), The Occupy Handbook; Back bay Books, 2012. On Kindle [ByrnesL:03] Nanette Byrnes and Louis Lavelle: The Corporate Tax Game; Business Week, 31 March 2003. Marriott. Limited IRS capability. CCCCCCCCCC [CaballeroJ:02] R. J. Caballero and A. B. Jaffe: “How High Are the Giants’ Shoulders? An Empirical Assessment of Knowledge Spillovers and Creative Destruction in a Model of Economic Growth”; in [JaffeT:02]. [Cairncross:97] Frances Cairncross: The Death of Distance; Orion, 1997. Have. [Caldwell:13] Christopher Caldwell: “"Dangers squared by a circle of liked, tweets and texts"; Financial Times, 19 Oct.2013, p.9. Review of [Egger:13]. `.... the ideology, widespread among technology entrepreneurs, that 'knowledge is property and no one can own it' [Camp:11] David Camp: Tax Reform Act of 2011; Ways and Means Discussion Draft, House of Representatives, 26 Oct.2011. Favors territorial taxation [Campbell:92] Charles G. G. Campbell: Availability and Effects of Host Country Transfer Pricing Administrative Rulings (France); Tax Mgm't. Int'l Forum; Vol.13 no.4, 1992. [CampbellW:12] Matthew Campbell and Zijing Wu: “Why Europe’s Tech Firms Love New York”; Bloomberg Businessweek, 9 April 2012, pp.56-57. Price/book value of MSCI US Information Technology Index is 3.7. Information on market to book ratio and IPO’s. 3.7 for MSCI index IT companies. [Canale:09] David Canale et al.: Global Transfer Pricing Survey Findings – Tax Authority Insights; Ernst & Young, Thought Center Podcast, 2 Oct.2009. IRS adding 350 people. Services being finalized. [Cantley:03] Beckett G. Cantley: “Corporate Inversions: Will the REPO Act Keep Corporations from Moving to Bermuda?”; Houston Business and Tax Law Journal, Vol.3, 2003. Available at SSRN: [CaplowHW:05?] Theodore Caplow, Louis Hicks, and Ben J. Wattenberg: The First Measured century: An Illustrated Guide to Trends in Amaerica, 1900-2000; PBS. . Includes Middletown study < http://www.pbs.org/fmc/book.htm.> [Carl:06] Walter J. Carl: “What's all the buzz about? Everyday communication and the relational basis of world-of-mouth and buzz marketing practices”; Management Communication Quarterly, Vol.19 No.4, May 2006, pp.601-634. [Carlin:13] Wendy Carlin: "Economics explains our world - but economics degrees don't"; Financial Times, 18 Nov.2013. @university college London. I agree with weaknesses in education of economists. I am not as sanguine that we have the models that are adequate for the modern world. In addition to asymmetric behavior of individuals neglecting the leverage of intellectual capital in high-tech enterprises omits the largest fraction of income generation. The worries expressed about loss of intellectual property is meaningless if the generating process is ignored. [Carlisle:14] Linda Carlisle: People pay at ...; comments with [GrimWC:14]. rules for TIAs [CarlsonFG:06] Murray Carlson, Adlai Fisher, and Ron Giammarino: Corporate Investment and Asset Price Dynamics: Implications for SEO Event Studies and Long-Run Performance; The Journal of Finance, Vol.61, Issue 3, June 2006, pp.1009–1034. [Carmel:00] Erran Carmel: B2B History, Kogod school, American University, 2000, retrieved Nov 2013. [CarmelA:02] Erran Carmel and R. Argawal:. “The Maturation of Offshore Sourcing of InformationTechnology Work”; MISQ Executive, Vol.1 no.2, 2002, pp.65 – 77. Globalization. [VICchap.2] [CarmelT:05] Erran Carmel and Paul Tjia: Offshoring Information Technology: sourcing and Outsourcing to a Global Workforce; Cambriudge university press, 2005. Globalization. ??NNNN [CarmichaelEa:09]‡ Philip Carmichael, Brian A. Cromwell, Holly E. Glenn, Robert S. Kirschenbaum, Gregg D. Lemein, Marc M. Levey, Holly K McClellan, Margreet G. Nijhoff, John M. Peterson, and Salim R. Rahim: IRS Issues Long-Awaited Temporay Regulations on Cost Sharing Arrangements; Baker & McKenzie, 12 Jan 2009. Based on investor model issued 2005. uses platform contributions. (PCT) Ersn profit on R&D contribution. Temp. Treas. Reg. § 1.482-7T(c)(5) (Example 2). narrower range of deviations Temp. Treas. Reg. § 1.482-7T(c)(5). (Example 2). Now a finite period. Temp. Treas. Reg. § 1.482-7T(c)(5)(Example 2).. Temp. Treas. Reg. § 1.482-7T(c)(5) (Example 2).. Difference in risk. Moreover, the 2005 proposed regulations provided that external contributions may include an expert R&D team and suggested that an assembled R&D workforce may constitute a valuable intangible. The Preamble to the 2005 proposed regulations stated that “[T] he Treasury Department and the IRS believe that a contribution of such an experienced team in place would result in the contribution of intangible property within the meaning of §1.482-4(b) and section 936(h)(3)(B) (emphasis added).” The temporary regulations do not limit platform contributions that must be compensated in PCTs to the transfer of intangibles defined in section 936(h)(3)(B). If the PCT Payee contributes the services of its research team for purposes of developing cost shared intangibles pursuant to the CSA, the PCT Payor would owe compensation for the services of such team under Temp. Treas. Reg. §1.482-9T. The temporary regulations provide that treatment of the contribution of services of a research team as controlled services is without any inference concerning the potential status of workforce in place as an intangible within the meaning of section 936(h)(3)(B). Thus, the temporary regulations purport to decouple the compensation due for an assembled work force and the finding of an intangible transfer, perhaps recognizing that the definition of intangibles under section 936(h)(3)(B) is not as broad as the IRS might have wished. [Carney:13] Tim Carney: How corporate tax credits got into the `cliff’ deal; Tax Notes. 2 Jan .2013. Refers to the The Family and Business Tax Cut Certainty Act of 2012 [Carr:12]‡ Beth Carr:: Statement to Congress; International Tax Services, Ernst & Young LLP, Permanent Subcommittee on Investigations, U.S. Congress, 20 Sep.2012. Works for HP. 21 [Carroll:1932] Mitchell B. Carroll: Taxation of Foreign and National Enterprises; League of Nations Doc. C73M38.1932.II.A, 1932. [Carroll:10] Robert Carrol: The economic Effects of the Lower Tax Rate on Dividends; The Tax Foundation,Special Report 181,7 Jun/2010 [Carson:08] Ron Carson: “Intellectual Property Audit and Management”; Chapter 33B in [ParrS:05]‡, 2008 Cumulative Supplement, Wiley 2008. [CarterK:11]‡ Zach Carter and Sara Kenigsberg: Panama Trade Deal Would Undercut Efforts To Get Rich Americans To Pay Taxes; Huffington Post, 9 Aug.2011, also a video, Banking secrecy, $200 to set up a corporation. [VIC xls /taxhavens] [Cassanos:03] Robert Cassanos: “Single Taxation of Publicly Traded Entities”; Tax Notes. Vol.99 June 16, 2003, pp.1663-1681. [Cassidy:11] John Cassidy: “The Demand Doctor”; Annals of Economics, New Yorker Magazine, 10 Oct 2011 – What would John Maynard Keynes tell us to do now – and should we listen? “the main impediment [Cassidy:13] Mike Cassidy: Google sues IRS Over AOL In Today’s A;lphabet Soup Winner; Mercury News, 28 Jun 2013. [Castle:11] Stephen Castle: Europeans Introduce Corporate Tax Plan; The New York Times, 10 March 2011. Tension beween Ireland and the EU n 12.5% taxralte Ch.8. [CavalliSforzaF:81] Luigi Luca Cavalli-Sforza and Marcus W. Feldman: Cultural Transmission and Evolution: A Quantitative Approach; Princeton University Press, 1981. [CavenaughEa:04] John Cavenaugh, Jerry Mander, et al.: Alternatives to Economic Globalization, A better World Is Possible; Report of the International Forum On Globalization, 2nd Ed., Berrett-Koehler, 2004. Have, diatribe. $300B more outsourcing is possible for service jobs per McKinsey. [Caves:82] Richard E. Caves: Multinational Enterprises and Economic Analysis, 1st ed.; 1982 , have 3rd edition. [Caves:07] Richard E. Caves: Multinational Enterprise and Economic Analysis, 3rd Ed ; Cambridge University Press, 2007. Have. Many multinationals exist because of a failure in the market for intangibles. Intra-form transactions are more profitable [CavesCK:83] Richard E. Caves, Harold Crookell, and J. Peter Killing: "The Imperfect Market for Technology Licenses"; Oxford Bulletin of Economics and Statistics, 1983, pp.249-268. many multinationals exist because of a failure in the market for intangibles. Intra-firm transactions are more profitable [CBO:05] CBO: Corporate Income Tax rates: International Comparison; Congressional Budget Office, Congress of the United States, Nov.2005. Shifting sources. Ignores investments in intangibles. Companies will invest in countries with lower taxrates (Chap.6, <10>) [CGSCF:10]‡ Entrepreneurship and Expeditionary Econmics, Kauffmam, Command and General Staff College Foundation, cites ketsdever [Censky:11] Annalyn Censky: “Boost spending on equipment, create more Jobs”; CNNMoney, 12 Sep.2011. [VIC xls /taxexpenditures] [CerfK:00] Vint Cerf and Bob Kahn: "Al Gore and the Internet"; 29 Sep.2000, 23 Harbor p.109 Risk, History of Cost Sharing On PC Kindle as study of Intercomp00unit.azw. Ordered. Foreign source R&D, Questions validity or arm’s length (Chap.10). [Charette:13] The STEM crisis Is a Myth; IEEE Spectrum, 30 August 2013. [ChatfieldG:73]† C. Chatfield and G.J. Goodhardt: “A Consumer Purchasing Model with Erlang Interpurchase Times”; Journal of the American Statistical Association, Dec.1973, Vol.68, pp.828-835. [VIC Ch.3.2.3, App.F.3.3] [ChauvinH:93] K.W. Chauvin and M. Hirschey: “Advertising, R&D Expenditures and the Market Value of the Firm”; Financial Management, 1993. advertising has an asset value. [VIC Ch.3.3].. [ChavezTW:98] Andrea Chávez, Catherine Tornabene, and Gio Wiederhold: "Software Component Licensing Issues: A Primer"; IEEE Software, Vol.15 No.5, Sept-Oct 1998, pp.47-52. [ChenWS08] Roger C.Y. Chen, Chao-Shi Wang, and Ru-Ping Shi:: “R&D intensity and the performance of IPOs“; International Journal of Innovation and Learning, Vol.5, no.3, 2008, pp.241-254. [VIC Chap.5.3.7] [ChennellsG:97] Lucy Chennells and Rachel Griffith Taxing profits in a changing world; London: Institute for Fiscal Studies, 1997. [Chittum:10] Ryan Chittum: “How 60 billion are lost in tax loopholes”; Bloomberg Business Week, 21 Oct.2010. based on [Drucker:10b] . [VIC Chap2.6] xls /forest] ..[ACM]. [Chittum:11] Ryan Chittum: “GE Flubs a Pushback Against The New York Times”; Columbia Journalism Review, 31 March 2011. ..[ACM]. [ChoiSW:97] Song-Yong Choi, Dale O. Stahl, and Andrew Whinston: The Economics of Electronic Commerce; Macmillan, 1997. [ChoiH:04] Eun Kwan Choi and James Hartigan (eds.): Handbook of International Trade, Vol.1; Basil Blackwell, 2004. don’t have? [ChoiH:05]‡ Eun Kwan Choi and James Hartigan (eds.): Handbook of International Trade, Vol.2; Basil Blackwell, 2005. have. Disconnect of law and economics. [ChristensenCN:01] K. Christensen, R. Cline, and T. Neubig: “Total corporate taxation: `Hidden’”; National Tax Journal, Sep.2001, Vol.54 no.3, pp.495-506. above-the-line, non-income taxes [ChristensenR:03] Clayton M. Christensen and Michael E. Raynor: The Innovator's Solution: Creating and Sustaining Successful Growth; Harvard Business school, 2003. [ChristensenvB:14] Clayton M. Christensen and Derek van Bever: The Capitalist’s Dilemma-Are Investors Bad For Business; Harvard Business Review, June 2014, pp.60-68. HBR1 Metrics and ratios provide little guidance for investing. “When the World Is Awash in Capital “, “Spreadsheets: The Fast Food of Strategic Decision Making”.[VIC Chap.5.3.5]. [Christians:09] Allison Christians: “Sovereignty, Taxation, and Social Contract”; Minnesota Journal of International Law, Vol.18, August 2009, p.99. < http://ssrn.com/abstract=1259975>. Global vs national issues. US tax initiatives, OECD. Good citations. Sovereign countries have the right not to tax. [Christians:10]‡ Allison Christians: Taxation in a Time of Crisis: Policy Leadership from the OECD to the G20; 5 Nw. J. L. & Soc. Policy. 2010, p.19, [Ciesielski:12] Jack T. Ciesielski: Statement to Congress; R.G. Associates, Inc., Permanent Subcommittee on Investigations, U.S. Congress, 20 Sep.2012. Deferral does not affect tax law. Management has a valid reason bias to foreign investment. Equity-based investment. Incentive problems. Deferral stated in 1959, but more easy to use now, IASB did not act on the issue in 2004. Invetors don’t know what is going on. 1.5T accumulated in S&P 500 firms. 72% owned by 18 companies. [CIA:11]‡ [VIC xls /taxhavens] [CIP:05] Dept. of the Treasury: Coordinated Issue Paper; Large and Medium Size Businesses, IRS, LMSB- 04—0907-9227, to be effective Sep.2007, first presented as Proposed Treasury Regulation §1.482- 7(g)(4), 29 Aug.2005; Updated 30 jan 2012. . [VIC 3.3., refer to app B, VIC]. [Clark:10] Sue Clark: Letter of response to Martin Hearson, ActionAid UK; SABMiller plc, 11 Nov.2010, 25 [Clark:07] Gregory Clark: A Farewell to Alms: A Brief Economic History of the World; Princeton University Press, 2007, ISBN: 978-0-691-12135-2. [ClarkSP:99] Richard A. Clark, Hy Sanders, and Lawrence D. Powell: Global Transfer Pricing; TALS, Deloitte & Touche, Oct.-Nov.1999, pp.13-20. See D&T. [ClarkSP:99] Richard A. Clark, Hy Sanders, and Lawrence D. Powell: Global Transfer Pricing; Deloitte & Touche, October-November 2009, pp.13-20. [Clement:10] Douglas Clement (ed.): Interview with Robert Hall, 16 March 2010; The Region, The Federal Reserve Bank of Minneapolis, 10 June 2010. [Clevenger CS:03] Novella Clevenger, Martha Crumpacker, and Ray Siehndel: Corporate Inversion: A Symbol of a Changing Paradigm of Corporate Behavior? Balancing Global Competitiveness, Fiduciary Duty, and Ethical Behavior; Washburn University Working paper series no.2 - Nov.2003. [ClevengerP:04] Novella Clevenger and Ken Pfannestiel: “Double Taxation of Dividends: Is the question resolved?; New Accountant, REN Publishing, 2004. Considers the 15% rate started by Bush in 2003 a reasonable compromise. [Clinton:11] Hillary Clinton: Remarks preceding President Hu’s State visit to the U.S.; U.S. Department of State, 14 Jan.2011. [ClintonG:95] William Clnton and Albert Gore: Reinventing Envisonmental Regulations; EPA, 1995. [CMSR:11] Centre for International Cooperation and Development: Corporate income tax; Slovenia, document ACT-2, 2011, www.cmsr.si/en/. [Coase:60] Ronald H. Coase: “The Problem of Social Cost”; Journal of Law and Economics, Vol.3, Oct.1960, The University of Chicago Press, pp.1-44. [Coase:88] Ronald H. Coase: “The Nature of the Firm: Influence”; Journal of Law, Economics, & Organization, Vol.4, No.1 (Spring, 1988), Oxford University Press, pp.33-47. [Coase:12] Ronald H. Coase: “Saving Economics from the Economists”; Harvard Business Review Magazine, Dec.2012. [CobhamJ:17] Alex Cobham and Petr Janský: Global distribution of revenue loss from tax avoidance, Re- estimation and country results; United Nations University, WIDER Working Paper 2017/55, March 2017. Data on effective corporate tax rates and revenues in a variety of categories. [Cobourn:07] Bill Cobourn: Exploiting intellectual property in a complex World; Technology Executive Connection, Vol.4, based on a survey by The Economist, March 2007. File tecv4ip.pdfl>. [CoburnH:12]‡ Tom Coburn with John Hart: Breach of Trust, How Washingon turns Outsiders into Insiders; [Coburn:12]‡ Tom Coburn: Statement; U.S. Congress, 20 Sep.2012. Congress is to blame, it’s all legal. Code is too complex. Thinks s the difference is between 27 and 18% off shore, but its 4%. [Coglianese:11] Cary Coglianese: Federal Agency Use of Electronic Media in the Rulemaking process; Final Report to the Adminstrative Conference of the United States, Dec 2011; also “Enhancing Public Access to Online Rulemaking Information”; Michigan Journal of Environmental and Administrative Law, 2012. [Coglianese:11] Cary Coglianese: “Federal Regulations: Let's Review the Rules”; Los Angeles Times, 29 April 2011; RegBlog, Univ.of Pennsylvania Law School, 29 April 2011. [Coglianese:12] Cary Coglianese: Regulatory Breakdown: The Crisis of Confidence in U.S. Regulation; University of Pennsylvania Press, 2012. Have. Pigouvian taxation. 2Taxes vs. subsidies p.156. [Coglianese:12E] Cary Coglianese: “Enhancing Public Access to Online Rulemaking Information,” Michigan Journal of Environmental and Administrative Law, 2012. [CoglianeseK:07] Cary Coglianese and Robert A. Kagan: Regulation and Regulatory Processes; Ashgate, 2007. [CoglianeseN:01] , Cary Coglianeseand Kalypso Nicolaidis: “Securing Subsidiarity: The Institutional Design of Federalism in the United States and Europe”; in Kalypso Nicolaidis and Robert Howse (eds): The Federal Vision:Legitimacy and Levels of Governance in the United States and the EuropeanUnion, Oxford University Press, . 2001. [CohanA:12] William D. Cohan and Jonathan Alter: “A Fair and Balanced Plan for Eliminating the Corporate Income Tax”; Bloomberg Businessweek, 25 June 2012. [Cohen:11] Norma Cohen: Multinationals face more tax audits; Financial Times, 3 May 2011. [Cohen:14] Roger Cohen: “Europese transactietaks dreigt vooral de kleine aandelenbelegger te raken”; Het Financieele Dagblad, 5 June 2014. Rate considered is 0.1% on shares and 0.01% on bonds, yielding €30B- € 35B (mrd) nnually. [Cohn:12]‡ Michael Cohn: IRS Commissioner Shulman Addresses Tax Delays; Accounting Today, 22 Mar. 2012. Too may temporary provisons in the tax code.Bush tax cuts undecided. 2012 Budget cit by $300M [CohnC:11] Peter Cohn and Mathew Caminiti: The Multinational Advantage; Bloomberg Businessweek, 20 and 24 Jan 2011. Uses data from [MarkleS:09]‡ North Carolina study. [Collier:10, Paul Collie: The Plundered Planet; Oxford University Press, 2010. [Collier:10W] Paul Collier: The political Econmy of Natural Resources; Social Research, Vol.77 no.4 Winter 2010: , professor of economics, Oxford University, and Michael Spence, 2001 Nobel Laureate in economics . “‘Currently there is both an agency problem – ministerial corruption – and an information asymmetry: companies know better than governments what rights are worth. The consequences are often grotesque… In 2006 the Democratic Repub?> [CollinC:13] Pierre Collin and Nicolas Collin: Task Force on Taxation of the Digital Economy; report of the Ministere de l’Economie et des Finances, Republique Francaise, 17 Jan.2013, 142pp. + appendices. In English. The Google tax. Conclusion `France should recover the power to tax the profits derived from the “free labour” of Web users situated in France’. [Collins:11D] Chuck Collins: Stop Corporate Tax Dodging: Talking Points and Background Information; Institute for Policy Studies, 23 Mar.2011. Picture of Ugland house [Collins:11I] Lauren Collins: “House Perfect, is the IKEA concept comfy or creepy?”; The New Yorker magazine, 3 Oct.2011. Includes IKEA’s tax avoidance. [CollinsS:99] Julie H. Collins and Douglas B. Shackelford: Corporate Domicile and Average Effective Tax Rates; in [Slemrod:99] . Canada, Japan, UK, US. Does not consider Tax havens [Compustat:98]‡ Compustat: Tools for Tranfer Pricing Analysis Developed by the APA program, 5 Mar.1998. [Compustat:04] Compustat: Financial Results of Companies in SIC code 7372 for 1999 to 2002; obtained Nov.2004. [Conard:12] Edward Conard: “Unintended Consequences: Why Everything You’ve Been Told About the Economy Is Wrong”; Portfolio, 2012. Bain Capital participant [Conason:11] Joe Conason: Exclusive: John Kerry Says "Chinese Are Laughing All The Way To The Bank" Over Prospect Of U.S. Credit Downgrade; National Memo, Thu, 07/28/2011 - 5:15pm [ConconiPR:07]‡ Paola Conconi, Carlo Perroni, and Ryamond Riezamn: Is Partial Tax Harmonization Desirable?; European Center for Advanced Research in Economics and Statistics (ECARES), March 2007. [Conley:05] James Gerard Conley: "Patents Come and Go - Trademarks are Forever"; Executive Counsel. Vol..2 No.2, 2005. [ConnerS:09] Patrick D. Conner, E. Andrew Southerling: New SEC Chairman Mary L. Schapiro Pledges Swift and Vigorous Enforcement; Morgan Lewis Litigation Practice, 12 feb 2009 [ConnicM:83] Connick v. Myers: 461 U.S. 138; United States Supreme Court 461 U.S. 138; 1983, 27 Studies, Vol. 11, No. 3 (Winter, 1980), pp. 47-62. Palgrave Macmillan Journals, http://www.jstor.org/stable/154735 [Contractor:81] Farok J. Contractor: International Technology Licensing, Costs and Negotiation; Lexington Books, 1981. p. 125. –have chapter around that page. [Contractor:85]‡ Farok J. Contractor: Licensing in International Strategy, A Guide for Planning and Negotiation; Praeger, 1981. [Contractor:00] Farok Contractor: “Valuing Intangible Assets and Corporate Knowledge: Some General Principles”; Knowledge and Process Management, Vol.7 no.4, Oct.2000. [Contractor:01] Farok J. Contractor (ed): Valuation of Intangible Assets in Global Operations; Greenwood, Quorum, 2001. Collection of papers, have, Bargaining in IP negotiations [p.16] , arm’s-length lag [p.120] . Bin Srinidhi: MNEs will devlop intangibles [p,173] . Profits under the 3 IRS methods [p177] . IP life [p220] . Ravi Sarathi: Ownership of software [p.225] . CISCO acquisitions [p.243] . Elisabeth King: Valuing the workforce [p.264] [Contractor:02G] Farok Contractor: “The Growth of Alliances in a New Knowledge-Based Economy”; International Business Review, Vol.11, No 4, Aug.2002. [Contractor:02K] Farok Contractor: “How Knowledge Attributes Influence Alliance Governance Choices; A Theory Development Note”; Journal of International Management, Vol.8 no.1, Spring 2002. [CookC:10] Nancy Cook and Eric Cook: System and method for analyzing tax avoidance; US patent 7,716,104 B2, granted 11 May 2010. Focus on interstate transfers . Refers to IRC 482. Parameter- based. Chapter 5 formulas, ratios. [CooperEa:15] Michael Cooper, John McClelland, James Pearce, Richard Prisinzano, Joseph Sullivan, Danny Yagan, Owen Zidar, Eric Zwick:, Business in the United States: Who Owns it and How Much Tax They Pay; NBER report 20 Sep. 201 [CopelandKM:10] Tom Copeland, Tim Koller, and Jack Murrin: Valuation: Measuring and managing the value of companies, 5th ed.; John Wiley & Sons 2010. Free cash flow method, Have 3rd ed. No mention of intangibles, Goodwill only in an example – of writeoff Europe vs, US, [CordesEG:05] Joseph J. Cordes, Robert D. Ebel\ , and Jane G. Gravelle: Encyclopedia of Taxation and Tax Policy; Urban Institute Press, Oct.2005. [Corbet:07] Jonathan Corbet: Who wrote 2.6.20?; http://LWN.net/articles/222773, 20 Feb. 2007 [Cornez:00]‡ Arnold Cornez: The Offshore Money Book: How to Move Assets Offshore for Privacy, Protection, and Tax Advantage, 2nd Ed; Contemporary Books, 2000. Mentions IP, p.57,58. [Cornford:04] Andrew Cornford: Enron and Internationally Agreed Principles for Corporate Governance and the Financial Sector; G-24 Discussion paper 30, UNCTAD, June 2004. [CorradoS:04]† Carrol Corrado and Dan Sichel: "Measuring Capital and Technology: An Expanded Framework"; Federal Reserve, Aug.2004, [Cowen:09] Tyler Cowen: Modern Principles of Economics; Worth Publishers, 2009. [Cowen:11C] Tyler Cowen: Corporate Income tax as a share of Corporate profits; Marginal Revolution, 17 Nov 2011. Nice Graphs. Corporate Tax should be zero. Used in Figure AppG.3. < 29 [CroninLH:04] Bruce Cronin, Lesley Catchpowle, and David Hall: “Outsourcing and Offshoring”; CESifo Forum, a quarterly journal, Summer 2004, The IFO institute for Economic Research and Ludwig- Maximilians-Universität , Munich, Germany, www.cesifo.de, pp.17-21. Globalization. [Crowell:37] Chester Theodore Crowell: “Our Tax Jungle”; Harper’s Magazine, Vol.175, Nov.1937. Quotes Morgenthau on importance of fairness. [CTJ:12] CTJ: Policy Options to Raise Revenue; summary of [Wamoff;12], Citizens for Tax Justice, 8 Mar. 2012. [VIC 10] [Cummings17] Jasper L. Cummings, Jr. :The Supreme Court's Federal Tax Jurisprudence, 2nd ed.; 2017. [Cunningham:12] Peter Cunningham: Capital Sins; 2012. A novel set during the Irish financial crisis , starting in 2008. [Cunningham:13] Peter Cunningham: "A dark, cruel comedy at the expense of the Irish taxpayer"; Financial Times, 27 Jun.2013, p.9. Lack of banking yregulations in Ireland and the guarantee provided to the Anglo-Irish bank settles the Irish with abligations approaching Euro 30B. [Cusack:11] Bob Cusack: Gang of Six Collapses: Winners and Losers; The Hill, 22 May 2011. [Cusumano:95]† Michael Cusumano and Richard Shelby: Microsoft Secrets, How the World's most Powerful Software company Creates Technology, Shapes Markets, and Manages People; MIT, 1995. [Cusumano:04] Michael A. Cusumano: The Business of Software; Free Press, 2004. Excellent review, with numbers and graphs. Favors synchronize and stabilize approach to software creation. [Cutler:13] Joyce E. Cutler : Tax Litigation: IRS Seeking Quick Hits Involving Company Methodologies in Big Transfer Pricing Cases; Daily Tax Report, 25 Oct. 2013. [Cyprus:11] Cyprus tax: Taxation of Interest, Dividends and Capital Gains in Cyprus; DDDDDDDD [Dagan:00] Tsilly Dagan (Bar Ilan School of Law): The Tax Treaties Myth; NYU Journal of International Law and Politics , Vol.32, Oct.2000, p.939-996. Working Paper No.FIN-99-024. R&D cost should be treated as (tax deductible) capital expenses. Putting IP on books was possible before 1975 in U.S., and under IAS 9. [Damodaran:00] Aswath Damodaran: ”An Updated Amazon valuation”; working spreadsheet at 31 undertaking or engaged in the trade or profession possess permanent establishments. ... The real centres of management, affiliated companies, branches, factories, agencies, warehouses, offices, depots, shall be regarded as permanent establishments. Should the undertaking possess permanent establishments in both Contracting States, each of the two States shall tax the portion of the income produced in its territory.The fact that an undertaking has business dealings with a foreign country through a bona fide agent of independent status (broker, commission agent, etc.), shall not be held to mean that the undertaking in question has a permanent establishment in that country. Should the undertaking possess permanent establishments in both Contracting States, each of the two States shall tax the portion of the income produced in its territory. Article 7. Salaries, wages or other remuneration of any kind shall be taxable in the State in which the recipients carry on their employment. Salaries of officials and public employees who are serving abroad shall, however, be taxable in the State which pays these salaries. [DARPA:07] DoD: Research, Deve,opment, Test, and Evaluation, Vol.1 Defense Advanced Research Projects Agency; Budget, Feb.2007. [DauchyN:09] Estelle Dauchy and Tom Neubig: "President Obama's Business Tax Proposals: Industry Effects"; Tax Notes, 19 Oct. 19, p. 314. Doc 2009-21147, or 2009 TNT 202-8 . Ernst & Young LLP Quantitative Economics and Statistics calculations. U.S.-headquartered global companies pay a little more than half of the total U.S. corporate income taxes. Quotes rules for new Japan deduction. [Daum:01] Juergen Daum: The New DASB rules for reporting in Intangible Asset – The U.S. Versus the European way; The new New Economy Analyst Report, 10 Nov.2001. Scandinavian countries report IP. [Davidoff:11] Steven M. Davidoff: DealBook: The Benefits of Incorporating Abroad in an Age of Globalization; The New York Times, 20 Dec.2011. The successful public offering of Michael Kors Holdings offers a case study on how globalization increasingly allows companies to avoid taxes and regulation in the United States. JPMorgan Chase estimates that American multinationals have $1.375 trillion in cash sitting overseas. [ACM] [Davidson:11]‡ Adam Davidson: “Can Anyone Really Create Jobs?”; The New York Times, 3 Nov. 2011. [Davidson:12] Adam Davidson: “The Purpose of Spectacular Wealth, According to a Spectacularly Wealthy Guy”; The New York Times, 1 May 2012. Preview of Conard, defending the 1%. [Davis:09] Manny Davis: Symantec Wins Tax case – Not responsible for IRS Back Taxes ; BackTaxHelp.com , 11 Dec.2009, retrieved 11 Oct 2011. $545M savings. [VIC xls /forest] [DavisRKM:11] Benjamin Davis, Elizabeth Ridlington, Gary Kalman, and Jeffrey Musto: "Tax Shell Game: How much did Offshore Tax havens Cost you in 2010?"; U.S. Public Research Interest Group , 18 April 2011. http://www.uspirg.org/reports/usp/tax-shell-game-how-much-did- offshore-tax-havens-cost-you-2010>. Annual loss is $100B. Tax Evasion: Tens of Billions in Taxes Avoided Through Offshore Activity, Havens, U.S. PIRG Says. [VIC xls /taxrates] [DavisM:97] Shelley L. Davis and Mary Matalin: Unbridled Power: Inside the Secret Culture of the IRS. Harper Collins, 1997. ISBN 0-88730-829-5. Former IRS historian. [DavydenkoSZ:12] Sergei A. Davydenko, Ilya A. Strebulaev, and Xiaofei Zhao: , A Market-Based Study of the Cost of Default; to appear, 2012. University of Toronto, Rotman School of Management (D&Z), Stanford University, Graduate School of Business, and NBER (S) [deGrootE:11]ε Gaby de Groot and Siem Eikelenboom: “Fiscale BV’S onder de loep genomen”; Het Financieele Dagblad, 19 Jan.2013. Problems with resolving Enron’s bankrupt shell operations in the Netehrlands, Enron used Dutch rulings to avoid reporting. Chnges as of 2004. But still, shells gew from 9000 in 2004 to 1400 in 2010. Dutch report due in march/April 2013. [DeHoon:12] Iven de Hoon: Tax advice is our passion, our passion is your benefit; Brochure, Antwerp, Belgium. 2012. Straightforward information on Hong Kong, Curacao, Isle of Man, Luxembourg. [DekkersG:10] Carol Dekkers and Ian Gunter: “Using `Backfiring’ to Accurately Size Software -- More Wishful Thinking than Science?”; Quality Plus Technologies, Inc. Nov.2000. Question code conversion as a metric for development costs [VIC Chap.5.3.3] [delaVega:1668] Joseph Penso de la Vega: Confusión de Confusiones; 1668, Fridson, Martin, ed. Confusion de Confusiones (trans.); in Mackay: Extraordinary Popular Delusions and the Madness of Crowds & Confusión de Confusiones, Wiley, 1996; Sonsbeek Publishers, 2006, facsimile, Martino Fine Books, 2013. The first stock market, Amsterdam, trading in shares of the second multinational, the VOC (verrengide Oostindisch Companie), after the British East India Company. [DelMonte:10] James Del Monte: IT Employer Information, Cost of Hiring/Turnover (CoH); JDA professional Services, 2010, 33 [Denning:13C] Steve Denning: Did Ronald Coase Get Economics Wrong; Forbes, 25 Sep..2013. Now we have the creative econmy. .Cites Andrew Hill (no, due to C-suite compensation, Oligogolies, getting government breaks, finacial engineering, hiding low RoI), Vitari (yes, diseconomies), Hagel (scalable learning, decentralize organizations around employees, needs paradigm shift) , Roger Martin (distinguishes algorithmic versus heuristic work – requring smarts, often from external Sources) [Denning:14C] Steve Denning: Clayton Christensen: Do We Need A Revolution In Management?; Forbes, 26 May 2014. Outsourcing, Apple Foxconn, and TSMC. [VIC Chap.6.3] [Denning:14H] Steve Denning: Has Capitalism Reached a Turning Point?; Forbes, 26 Sep. 2014. Reformation – Luther, Zwingli . [VIC Chap.6.3] [Denniston:11P] Lyle Denniston: Argument preview: Corporate “personhood” – again; 18 Jan.2011. March 2005. Who uses taxhavens?. Multinationals, companies with R&D. does not distinguish types of taxhavens. [DesaiFH:05E] Mihir A. Desai, C. Fritz Foley, and James R. Hines jr.: “Do Tax Havens Divert Economic Activity?”; Economics Letters, Vol.90, Elseviers 2006, p.219-224. [DesaiFH:05I]‡ Mihir A. Desai, C. Fritz Foley, and James R. Hines Jr. "Foreign Direct Investment and the Domestic Capital Stock“; American Economic Review Vol.95 no.2, May 2005, pp.33-38. [DesaiFH:06A] Mihir A. Desai, C. Fritz Foley, and James R. Hines jr.: "Taxation and Multinational Activity; New Evidence, New Interpretations“; Survey of Current Business, Vol.82 no.6 Feb.2006, pp.16-22. Indirect foreign taxes do not receive tax credit. [DesaiFH:06E] Mihir A. Desai, C. Fritz Foley, and James R. Hines jr.: "Do Tax Havens Divert Economic Activity?“; Economics Letters, Vol.90, Elseviers 2006, p.219-24; also Ross School of Business Working paper Series no.1024S, University of Michigan; SRN No.704211, April 2005. Increases FDI in other offshore activities. [DesaiFH:07] Mihir A. Desai, C. Fritz Foley and James R. Hines jr.: "Economic Effects of Dorgan, Levin, & Feingold, Deficit Reduction. Senate Bill 110, Subtitle B, Section 212. R 25 Jan.2007. 35 [Dey:89] Richard Morris Dey: In the Way of Adventure: The Story of John Caldwell and Palm Island; Offshore Press, 1989, 35pp.Out of print. [Dharan:02] Bata G. Dharan: Enron’s Accounting Issues – what we can learn to Prevent Future Enrons; Testimony prepared to US House Energy and Commerce Committee’s Hearings on Enron’s Accounting, Feb.2002. [DharmapalaH:06] Dhammika Dharmapala and James R. Hines jr.: Which countries became Tax Havens? National Bureau of Economic Research, 2006, Cambridge; revised May 2009. [Dharmapala:08] . Dhammika Dharmapala: “What problems and opportunities are created by tax havens?”; Oxford Review of Economic Policy, Oxford University Press, 2008. [DharmapalaFF:09] Dhammika Dharmapala, C. Fritz Foley, and Kirstin J. Forbes: `Watch what I do, Not what I say’: The unintended Consequences of the Homeland Investment Act; NBER working paper 15023, June 2009. HIA is an alternate for the AJCA. $300B repatriated, the same amount paid out in dividends. [DiamondZ:08] John W. Diamond and George R. Zodrow (eds): Fundamental Tax Reform: Issues, Choices and Implications; MIT Press, 2008. Foreword by James Baker III. Have. [DickinsNW:05] Denise Dickins, Thomas G. Noland, and Kenneth M. Washer: “Primer on Partnership- Compensation Models”; The CPA Journal, Aug.2005. [Dijkstra:72]† O. J. Dahl, E. W. Dijkstra, and C. A. R. Hoare, Structured Programming, Academic Press 1972. [Dill:1898]ε James Brooks Dill: The Statutory and case law applicable to private companies; Baker, Voorhis & Co, 1898. Internet Archive, 3rd Ed. The original corporation law, as defined in New Jersey, 1896. [VIC App.B]. [Dillon:13] Pat Dillon: Response of Irish Tax Accounts to [OECD:13]; CIOT, 19 Dec, 2014. Its not an issue of digital- it the intangibles, Ireland is sovereign [Dilulio:17] John J. Dilulio, jr.: "10 questions and answers about America’s `Big Government'; Brookings Institution, .Monday, February 13, 2017. Data on gowth, fed vs.local, federal contractors. [Dingh:10] Leuyen Dingh: Transfer Pricing: IRS Disagrees With Tax Court's Findings, Legal Interpretations in 'Veritas' Ruling; BNA Daily Tax Report, 12 Nov.2010. [DinopoulosT:99] Elias Dinopoulos and Peter Thompson:. "Scale effects in Schumpeterian models of economic growth“; Journal of Evolutionary Economics, Springer, Vol.9 no.2, , 1999, pp.157-185. [DinopoulosS:99] Elias Dinopoulos and Paul Segerstrom: "The dynamic effects of contingent tariffs“; Journal of International Economics, Elsevier, Vol.47 no.1, , Feb. 1999, pp.191-222. [Dionne:12] E.J. Dionne: Ideological Hypocrites; The National Memo, 20 Feb.2012. Earmarks and bailouts. [Ditmer:11] Philip Dittmer: "U.S. Corporations Suffer High Effective Tax Rates by International Standards"; Tax Foundation Special Report No.195, Sep.2011. [Doebele:04] Justin Doebele: “Flex Forward: Flextronics' Michael Marks says that outsourcing can only get much, much bigger”; Chief Executive, 1 July 2004. [Doernberg:08] Richard L. Doernberg: International Taxation in a Nutshell, 8th edition; Thomson West Law, 2008, 612pp. On Kindle. The 9th edition appeared 1 Feb.2012. [Doggart:02] Caroline Doggart: Tax Havens and Their Use; Economist Intelligence Unit, 2002. Quotes Powell defintiom. [Dohmen:09] Joep Dohmen: “Multinationals betalen vrijwel geen belasting”; NRC Handelsblad, 21 Feb.2008, updated 25 Nov.2009, [DollarK:04]ε David Dollar and Aart Kraay: Trade, Growth, and Poverty; Economic Journal, Vol. 114, Feb.2004, pp.22-49. Draft available 2001, distinguish Rich countries (29), Globalizers (24 small and large), Non-globalizers (48). [DonadioP:11] Rachel Donadio and Elisabetta Povoedo: “Italy Tries Raising the Social Stigma on Tax Evaders”; The New York Times, 24 December 2011. $150B annually lost, underground economy is 17.5% of GDP. [Donmoyer:10] Ryan J. Donmoyer: IRS Trims Demand for Corporate Tax-Shelter Lists - Businessweek, Sep 24, 2010. www.businessweek.com/.../irs-trims-demand-for-corporate-tax-shelters..., – The U.S. Internal Revenue Service scaled back its requirement that companies begin listing all tax-saving transactions to help the agency. [Dooley:11] Brian Dooley: International Taxation in America; Authorhouse, 2010. Non-professional writing. [Dorgan:07] Dorgan et al.: US senate Deficit Reduction Bill of 2007, Senate Bill 681, Subtitle B, S. 212, 110th Cong., 1st Sess. 2007. Radical changes of legislation are being proposed to change taxation rules for CFCs both within countries, as the U.S., and among OECD members. [DossaniK:03]ε Rafiq Dossani and Martin Kenney: “The relocation of Service provision to Developing Nations, The Case of India”; 2003; Wiley, 2009, pp.193-217. [DoT:07] Department of the Treasury: Treasury Conference on Business Taxation and Global Competitiveness; background paper, 23 Jul.2007, 54pp. 37 [Drucker:10]ε Jesse Drucker: “Globe-trotting Profits, U.S. Companies Dodge $60 Billion in Taxes with Global Odyssey”; Bloomberg Businessweek, 14 May 2010. Lexapro & Forest labs. ..[ACM].[VIC Chap.2.6.1]. [Drucker:10A] Jesse Drucker: “Tax `Shenanigans’ Turn U.S. Sales to Foreign Income with Billions Offshore” ; Bloomberg Businessweek, 20 July 2010. Based on a report describing 6 anonymous companies to the House Ways and Means committee. sources, subsidiearies companies. Used Federal contract obligations can be found at USA Spending, www.usaspending.gov NNNNN [DunneHT:96] Timothy Dunne, John Haltiwanger, and Kenneth R. Troske: "Technology and Jobs: Secular Changes and Cyclical Dynamics“; NBER Working Papers 5656, National Bureau of Economic Research, Inc. , 1996. ; Working Papers 96-7, Center for Economic Studies, U.S. Census Bureau; Carnegie-Rochester Conference Series on Public Policy, Elsevier, Vol.46 no.1), pp.107- 178, June. [DuPont:79] E.I. DuPont de Nemours & Co. v. United States, 608 F.2d 445 (Ct. Cl.1979). The basis for use of the Berry ratio. [VIC .5.3.5] [Durden:10] Tyler Durden: HR 2487 = Capital Controls Act (Read Subtitle A—Foreign Account Tax Compliance); 29 March 2010 , EEEEEEEEE [E:09] Lean Startup: Debunking Myths of Entrepreneurship; Stanford Video 4:28min 30 Sep 2009. [E&Y:xx] Ernst & Young License Agreement Library. 39 [EatwellMN:89] John Eatwell, Murray Milgate, and Peter Newman (eds.): Money; The New Palgrave; W.W. Norton Publishers, 1989,.330pp. Excerpt of a 4-Vol.Dictionary of economics. About 40 entries, most around 5 pages, Friedman has 40 pages. Classical macroeconomics”. [EatwellEtAl:89] John Eatwell et al. (eds.): Finance: The New Palgrave; W.W. Norton Publishers, 1989.Excerpt of a 4-Vol.Dictionary of economics. 1300 entries. Classical macroeconomics”. Recent The fall and rise of Keynesian Economics? 2011“ 25 books total. [Ebert:11] Natalie Ebert: Netherlands Antilles; [Economist:13C] Economist: After the personal computer; The Economist, 6 Jul.2013, pp.60-61. Useful quantitative data about the PC industry, Taiwan, China, and the move to mobile. [Economist:13M] Economist: plumbers in suits; The Economist, 6 Jul.2013, pp.63-64. Markit, a company controlled by banks, serving banks. Tried to buy LCH.Clearnet in 2011. [Economist:13N] Economist: Crashing exchanges, Code blue; The Economist, 31 Aug.2013. Eurex, (not Euronex) shut down 1 hour 26 Aug.2013, closing European trading of NASDAQ listed stock. Problem at NYSE’s ARCA. Prior failures May 2012, killing Knight Capital, and 20 Aug. 2013 affecting GoldmanSachs dark pool operations. [Economist:13P] Economist : “The new American capitalism, Rise of the distorporation”; The Economist, 26 Oct.2013, pp.63-64. The rise of Master Limited Partnerships, which are able to circumvent rules placed on cporoporations. Another reason for abolishing corporate taxation [VICch10.5] [Economist:14]ε Economist : “Dropping the Bomb”; The Economist, 28 June 2014. “America’s fierce campaign against tax cheats is doing more harm than good”. [Eden:98] Lorraine Eden: Taxing Multinationals: Transfer Pricing and Corporate Income Taxation in North America; Univ. of Toronto Press, 1998. [EdenK:05] Lorraine Eden and Robert T. Kudrle: “Tax Havens: Renegade States in the International Tax Regime”; Law & Policy, Vol.27 no 1, January 2005, pp.100-127. On subpart F [Edgar:10] U.S. Securities and Exchange Commission: Company Search; 41 [EismanW:81] M.M. Eisman and W.M. Wardell: "The Decline in Effective Patent Life of New Drugs"; Research Management, Vol. 24 no.1, January 1981, pp. 18-21 [Eisinger:12A] Jesse Eisinger: How Shareholders Are Hurting America”; Pro Publica Trade, 27 June 2012. Many good comments [Eisinger:12B] Jesse Eisinger: Incoming Regulator promises no more Coddling of Banks”; Pro Publica Trade, 13 June 2012. Treasury sluggish in dealing with banks [ElitzurM:96] Ramy Elitzur and Jack Mintz: “Transfer Pricing Rules and Corporate Tax Competition”; Journal of Public Economics,Vol.60 no.3, 1996, pp.410-422. [Elias:11] Christopher Elias: MF Global and the great Wall St re-hypothecation scandal; Thomson Reuters News & Insight, 12 July 2011. Earlier in Thomson Reuters’ Business Law Currents, [Elliott:12D] Justin Elliott: when the GOP Tried to ban Dark Money; proPublica, 8 March 2012. Quote in comment: John - Walter, you’re right on target regarding the founders, but metaphors aside, money is not speech. Especially in a world that includes the Internet and volunteers, it’s entirely feasible to put a strict limit on campaign spending across multiple organizations. And whether or not a corporation is a person, it absolutely isn’t a citizen, and we explicitly ban non-citizens from political speech to sway campaigns. So the infrastructure already exists to limit any of these corporate entities the way we’d limit a Chinese millionaire. [Elliott:12] Amy Elliott: International Practice Networks Differ from Issue Practice Groups, Danilack Says; BNA Daily Tax Report, 4 Oct..2012. [Ellis:77] Arthur K. Ellis: Elementary Social Studies, 6th edition; Allyn & Bacon 1977. Source for some quote. [Elmendorf:11] Douglas W. Elmendorf: Reducing the Deficit: Spending and Revenue Options; Congressional Budget Office, Congress of the United States, Mar.2011, 182–83. [Erlich:94] Jacob Erlich: "Royalty Rate Basics for U.S. Transactions"; Les Nouvelles, Licensing Executive Society, June 1964, pp.86-88. See FFFFFFFFF [F ... ] are references to Appendix F, Formulas in [Wiederhold:13] Gio Wiederhold: Valuing Intellectual Capital, Multinationals and Taxhavens; series Management for Professionals, Springer Verlag, New York, to appear 2013. 43 [FaderHH:03]† Peter S.Fader, Bruce G.S. Hardie, Chun-Yoa Huang: A Dynamic Changepoint Model for New Product Sales Forecasting; Wharton School of Business, Univ. of Pennsylvania, On-line reports, July 2003. [Faiferlick:01] Christopher J. Faiferlick: Transfer Pricing of Computer Programs; Chapter 45 in [Feinschreiber:01] Transfer Pricing Handbook, 3rd Edition, Wiley, 2001. [Faiferlick:06] Chris Faiferlick, Robert Miall, And Paul Balkus: Response of members of Ernst & Young’s Global Transfer Pricing Team to the OECD’s Invitation to Comment on Transactional Profit Methods; OECD, Paris, 2006. In [OECD:06] In OECD: TransactionalProfitMethods- ResponsesToTheOECD InvitaiontoComment. [Fallon:12] Padraic Fallon; (ed):; Euromoney magazine. On iPad [FamaF:98] Eugene F. Fama, and K.R. French: “Taxes, Financing Decisions and Firm Value”; Journal of Finance 53, 1998, pp 819-843. Data 1963 to 1998, found that companies that paid dividends provided a higher rate of return. (7.8 % versus 5.4%) than those companies that did not pay dividends. [FamaM:73] Eugene F. Fama and James D. MacBeth: “Risk, Return, and Equilibrium: Empirical Tests”; J. Political Econ., Vol 81, 1973,pp. 607-636 [FarhangDR:07] Ali R. Farhang, Tim Deeter, and Sunit Rikhi: “Co-optimization of Product Design and Semiconductor Process Technology: The Core of a Winning DFM Strategy”; Future Fab International, Vol..22, Chapter 3, 9 Jan. 2007. Design for Manufacturability, Intel’s Tick-Tock approach to the synchronizationof the life cycle. Received from Gupta, Intel Oregon `Fabless does only Tock, using existing libraries’. [Farrell:12] Maureen Farrell: “Calpers: We’re getting even more activist”; CNNMoney, 2 May 2012. [FarrellKS:05] Diana Farrell, Noshir Kaka, and Sascha Stürze: “Ensuring India's offshoring future”; McKinsey Quarterly, Sep.2005. <200,000 jobs gained 2004 by Indian NAS&S companies> [FASB:85] Financial Accounting Standards Board: Accounting for the Costs of Computer Software to be Sold, Leased, or Otherwise Marketed - FAS 86; 1985. The capitalization of external use software development costs is required once functionality is demonstrated. Customer maintenance and support costs for computer software should be expensed when related revenue is recognized or when those costs are incurred, whichever occurs first, [FeenstraH:04] Robert C. Feenstra and Gordon H. Hanson: Global production sharing and rising inequality: A survey of trade and wages; in [ChoiH:03] , pp.146-185. Strongly suggests that globalization has contributed significantly to income inequality. [FeenstraEa:10] Robert C. Feenstra et al.: Report on the Sate of Available Data for the Study of International Trade and Foreign Direct Investment; National Bureau of Economic Research, Working paper 16254, Aug.2010. [FeenstraMRS:09] Robert C. Feenstra, Benjamin Mandel, Marshall B. Reinsdorf, and Matthew Slaughter: Effects of Trade Gains and Tariff Changes on the Measurement of U.S. Productivity Growth; NBER working paper No.15592, Dec.2009, also working paper, Univ. of California, Davis , March 2008. [FehrJKK:13} Hans Fehr, Sabine Jokisch, Aswin Kambhampati, and Laurence J. Kotlikoff: Simulating the Elimination of the U.S Corporate Income Tax; National center for Policy Analysis, 2013. The average US corporate tax is 13% from [MintzC11]. Extensive demographic model, to 2100. Other countries’ corporate tax rates stay fixed. [FeigenbaumP:83] Edward Feigenbaum and Pamela McCorduck; The Fifth Generation: Artificial Intelligence and Japan’s Computer Challenge to the World; Addison Wesley Publishing Company; 1983. [FeigenbaumMNP:88]† Edward Feigenbaum, Pamela McCorduck, H.Penny Nii, and Tom Peters: The Rise of an Expert Company: How Visionary Companies Are Using Artifical Intelligence to Achieve Higher Productivity and Profits; Macmillan, 1988. [FeigenbaumW:95] Edward Feigenbaum, Gio Wiederhold (eds.), Elaine Rich, and Michael Harrison (authors): Advanced Software Applications in Japan; Noyes Publications, 1995. (see Database Use in Japan, 1992.) [Feinberg:71] Feinberg, Lumbard, Smith: Georgia-Pacific Corporation v. U.S. Plywood-Champion Papers Inc.; United States Court of Appeals, Second Circuit, argued 16 Feb 1971, decided 15 June 1971, certiorari denied 12 Oct 1971, see 92 S.CT 105. A fundamental decision on setting royalty rates. [Feinschreiber:01] Robert Feinschreiber: Transfer Pricing Handbook, 3rd edition; Transfer Pricing Consortium, John Wiley Publishers, April 2001. [Feinschreiber:04] Robert Feinschreiber: Transfer Pricing Methods: An application Guide; Wiley, 2004. There has never been an easy-to-use and convenient book that addresses salient and fundamental transfer pricing issues . . . until now. Designed to specifically assist mid-sized businesses facing transfer pricing issues now and in the future, Transfer Pricing Methods is a comprehensive guide that provides in-depth coverage of various transfer pricing methods and applications that are available to today's mid-sized corporations. An invaluable reference for all tax managers, CEOs, and CFOs, Transfer Pricing Methods provides a practical focus on the techniques available and their consequences. Featuring contributions from industry experts, complete coverage includes: Comparable profits methods Cost sharing Transactional net-margin method Adjustments of interest rates Resale price techniques Benefiting from the cost-plus method Market share Organisation for Economic Co-operation and Development guidelines Life-cycle analysis Use of multiple-year data. [Feldstein:13] Martin Feldstein: A Simple Route to Major Deficit Reduction; Wall Street Journal, 20 Feb.2013. Cap deductions at 2%. Critcal comments. [FeldsteinHH:95] Martin Feldstein, James R. Hines Jr. and R. Glenn Hubbard (eds.): Taxing multinational corporations; University of Chicago Press, 1995. Collection of analytical papers. Have [FeldsteinHH:95-1] Martin Feldstein, James R. Hines Jr. and R. Glenn Hubbard eds.: The effects of taxation on multinational corporations; Chicago: University of Chicago Press, 1995. HD2753.A333 ISBN 0- 226-24094-9. [FeldsteinS:78] Martin Feldstein and Joel Slemrod: "Inflation and the Excess Taxation of Capital Gains on Corporate Stock"; National Tax Journal Vol.31, 1978, pp.107–118; [Felt:76] Mark Felt (Deep Throat): Discussion with Bob Woodward; All the President’s Men, Warner Brothers, 1976. True identity on revealed in 2006. 45 [FentonP:92]† Norman E. Fenton snd, Shari Lawrence Pfleeger: Software Metrics; Less (11 pages, 3 pages of criticism: 15, 97,148,259-265, 326, 413-414, 453) on Function Points. See FentonPages.jpg. [Fernandez:09] Pablo Fernandez: “Market Risk Premium Used in 2008 by Professors: A Survey with 1,400 Answers”; SSRN some of these elephants in the room in our work in this space, try to draw them out so we get to a better place, and do it in a way so that it's not merely a rewriting of the technical rules?" [Finley:18N] Ryan Finley: “No Apologies for IRS’s Transfer Pricing Litigation Record”; TaxNotes.com, 8 Jun 2018; Comments on presentation by Kenneth Wood, IRS deputy associate chief counsel (international), defending the IRS’s interpretation of section 482 and the section 482 regulations June 7 at the global transfer pricing conference in Washington sponsored by Baker McKenzie and Bloomberg Tax. Referring to the IRS’s unsuccessful attempts to apply proÒt-based intangible valuation methods in high-proÒle U.S. Tax Court cases, Wood said there was nothing wrong with the economic analyses performed by the IRS. [Finley:18T] Ryan Finley: “The TCJA, Tax Court, and Transfer Pricing: Second Time a Charm?”; Taxnotes.com, 11 Jun 2018. [FinneganM:78] Marcus B. Finnegan and Herbert H. Mintz: "Determination of a Reasonable Royalty in Negotiating a License: Practical Pricing for Successful Technology Transfer"; Licensing Law and Business Report 1 No.2 , June-July 1978, p.19. Cited by [Contractor:81] . Not at SUL. [FisherH:11] Ken Fisher and Lara Hoffman: Markets Never Forget (But People Do); Wiley, 2012. [FisherS:09]ε William W. Fisher & Talha Syed: A Prize System As A Partial Solution To The Health Crisis In The Developing World; Discussion Paper No.5 10/2009 Harvard Law School Cambridge, MA 02138. An alternative to patent protection, but the government pays the prize for success. [Fishman:12] Stephen Fishman:: Amortizing Patents. Copyrights and Other Intangible Property; http://www.intellectualpropertylawfirms.com/resources/invention-law/amortizing-patents- copyrights.htm , 2012.. Simplistic, incomplete. [FishmanW:01] Raymond Fishman and ShangYu Wei: Tax rates and Tax Evasion: Evidence from `Missing Imports’ in China; National Bureau of Economic Research (NBER), working paper 8551, Oct.2001. [Fitzgibbon:18]ε Will Fitzgibbon: Zimbabwe’s List Of Alleged Offshore Offenders Includes Panama Papers Shell Companies; International Consortium of Investigative Journalists, 26 Mar 2018. [Flatley:14] Jay Flatley: The Gene factory; New Yorker Magazine; 6 Jan 2014. At Illumina `It’s one thing to sell Coke and another thing to sell the formula for Coke’ [Fleischer:12]ε Victor Fleischer: “Overseas Cash and the Tax Games Multinationals Play”; New York Times, 3 Oct. 2012. Trillion $ offshore Use of indefinite blocker statements. {ACM] [Fleischer:13]ε Victor Fleischer: “Why Twitter May Have to Pay Income Taxes One Day”; New York Times, 6 Nov.2013. Writing down IP valuation, implies ownership changes, but fails to recognize motivation to transfer rights offshore. {ACM] [Fleischer:14] Victor Fleischer: “The So-Called Blackstone Bill, Resurrected”; New York Times, 17 Feb.2014. Provisions on the 979 page Camp bill removes exemptions for Passive income PTPs, private equity corporations, limting them to tghose that trade energy futures.. Bill also incudes a &86B tax on SIFIs, Systematically Important Finacial Institutions. [FlignorO:06] Paul Flignor and David Orozco: Intangible Asset & Intellectual Property Valuation: A Multidisciplinary Perspective; WIPO , Kellogg School of Business, June 2006. Exclusive licenses. [Folbre:11] Nancy Folbre: Tax Havens and Treasure Hunts; The New York Times , 4 April 2011. Shows Corporate tax revenue/ GDP. [Foley:09] Judge Maurice Foley: Veritas Software and Subsidiaries v. Commissioner of Internal Revenue; US Tax Court. 133 T.C. no.14, Docket No.12075-06, filed 10 Dec.2009. Also available from Tax Management Transfer Pricing Report, proquest.umi.com, Vol.18 no 15, 2009, pp.890. In the case, Judge Maurice Foley held the IRS improperly valued the buy-in payment in the cost-sharing agreement between VERITAS, a U.S.-parented software company, and its Irish subsidiary (236 DTR K-1, 12/11/09). Discount rate 20.47%. [Fornito:05] Roberto Fornito: Haftung imVerein; Müller-Eckstein Rechtsanwälte, Staad, Switzerland, 2005. 47 [Fors:97]‡ Gunnar Fors: “Utilization of R&D Results in the Home and Foreign Plants of Multinationals”; The Journal of Industrial Economics, Vol.45 Issue 3, pp.341–358, Sept.1997. R&D is used by CFCs, but not the other way around. [Foster:12] Noel Foster: Africa, report 2012. [VIC xls /taxrates] [Fowler:89] Bradley A. Fowler: “What Do Venture Capital ‘Pricing’ Methods Tell About Valuation of Closely Held Firms?”; Business Valuation Review, June 1989, pp.73–79. Startup: 70-50%, First stage (testing prototypes }60-40%, Second stage (sample products, no income) 50-35%, Third stage (revenue growth, net loss) 50-30%, Fourth stage (rapid growth, modest risk) 40-30%, Mezzanine (6 months before IPO) 34-25%. [Fowler:99] Martin Fowler and Kent Beck: Refactoring: Improving the design of existing code;14th edition, 1999. [Fox:09] Justin Fox: The Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street; Harper Business, 2009. On Kindle and hardcover. [Foxman:12] Simone Foxman: “Citi’s Chief Econmist Rips the US Tax system For Almost Giving Him `a Nervous Breakdown’” Business insifer, 21.Mar21012. Citigroup’s chief economist Willem Buiter said on Bloomberg Radio Tuesday, fiscal policy at the federal level we're talking about now is a complete disaster. “As a U.S. citizen, I had to try and get the data together to give to the person who prepares my tax returns, and I almost had a nervous breakdown collecting the data! The US tax system is completely incomprehensible! My wife and I are both PhD’s in economics—both of us!—and we can’t make head or tails of it.”’ [FPA:11] Fiscal Policy Associates: Developing Consistent Tax bases for Broad-based Reform ; Sep.2011. Also good summary data. Includes a national sales tax. Support for Herman Cain 9-9-9 proposal. Run by Gary Robbins. [Fram:12] Alan Fram: Simpson-Bowles Plan rejected by the House; AP 29 mar 2012? 382-38. [Frank:05] Steven J. Frank: "Source Out, Risk In"; IEEE Spectrum, April 2005. pp.60,62. Outsourcing, Globalization risk. [Frank:11] Robert Frank: Are Taxes Causing the Rich to Renounce Their Citizenship?; The Wealth report, The Wall Street Journal, 13 June 2011. 499 left in 1q2011. No indication if they are rich. [FrankOW:09] Peter B. Frank, Vincent E O'Brian, and Michael J. Wagner: "Patent Infringement Damages"; Chapter 22 in Roman Weil, Michael J. Wagner, and Peter B. Frank: Litigation Services Handbook, 2009 cum. Supplement, Wiley. [FreemanAB:09] Nick J. Freeman, George Abonyi, and Atipol Bhanich Sipapol: Globalization of Production and the Competitiveness of Small and Medium-sized Enterprises in Asia and the Pacific: Trends and Prospects; United Nations Economic and Social Commission for Asia and the Pacific, Studies in Trade and Investment No.65 (ST/ESCAP/2540). 2009. [Friedman:62] Milton Friedman: Capitalism and Freedom, The Distribution of Income; University of Chicago Press, 1962. "All things considered, the personal income tax structure that seems to me best is a flat-rate tax on income above an exemption, with income defined very broadly and deductions allowed strictly for defined expenses of earning income”; [p.174.] . [Friedman:70] Milton Friedman: New York Times, 1970. The prmary roleof a cpmpany is to make money for its shareholdes [Friedman:86]‡ Milton Friedman: On the 1986 Tax Reform; Wall Street Journal: 7 July 1986. The end result is a tax system so complex that literally no one can master it in full detail. --From the citizens' point of view, the function of tax legislation is to decide who shall pay how much to finance government spending. But from Congress's point of view, tax legislation has an additional and very important function: It is a way to raise campaign funds. Why is it that hardly a year passes without a new tax bill? The reason is that so long as a tax bill is under consideration, with many billions of dollars at stake, lobbyists are actively pressing for the introduction or retention of special provisions to benefit their clients. And so long as lobbyists are active, thousand-dollar-a- plate dinners and similar devices will tap them for campaign funds. That is why members of Congress put such a high value on being assigned to the Ways and Means or Finance committees. And that is also why Congress has denied the citizenry the benefit of a GGGGGGGGGG [Gabriel:10] Caroline Gabriel: 3G Americas remaned for the 4G era; Retink Wireless, 28 Sep.2010. [Gabriel:11] Trip Gabriel: “Gingrich Strikes Economic Themes in Hitting Romney”; New York Times, 27 Dec.2011. Supply side invokes Arthur Laffer curve , Jude Wanniski [GabrielS:11] Trip Gabriel and Susan Saulny: “With Just Three 9s, Cain Refigured Math for Taxes”; New York Times, 12 Oct.2011. computed by adviser, Rich Lowrie, for Hermann Cain, uses Laffer curve. [Gaetan:06] Nicodaeme Gaetan: "Corporate tax competition and coordination in the European Union: What do we know? Where do we stand?“; European Economy - Economic Papers 250, Directorate General Economic and Monetary Affairs, European Commission, 2006. [Galandak:13] John Glandak: Uncertainty: Good for Science, Bad for Bisiness; Commerece, The Business of New Jersey, www.commercemagnj.com, Jun.2013. .. 23% of small business owners cite taxes as the single most important problem [NFIB].. it costs small businesses 76% more (basis?) yo comply 49 with the tax code than larger competitors, 2 billion hours or ~$18B annually, corporate only would increase taxes paid by individual owners of pass-through usinesses by 8% or $27B annually. 77$% are organized as S-corps, LLCs. LLPs, or Sole Proprietor ships. [Gale:99] William G. Gale: What can America Learn from the British Tax System: in [Slemrod:99] . tax expenditures in the US 1993 $403B, stable laws. The UK provides no tax relief on second homes. Ref to effect of changes in capital gains. [GaleH:10] William G. Gale and Benjamin H. Harris: A Value-Added Tax for the United States: Part of the Solution; Economic Studies, Brookings Institution, 22 July 2010. VAT [GaleH:11]‡ William G. Gale and Benjamin H. Harris: Don’t Fall for Corporate Repatriation; Politico, Brookings Institution, 27 June 2011. 1.5Trillion offshore. [ACM]. [Gale:11O] William G. Gale: The Big Hidden Tax Ideas In Obama’s Budget; Brookings Institution, 22 Sep.2011. Buffet Rule instead of AMT. 28% limit to itemized deduction. Affects excessively high mortgage deductions. No AMT and 30% tax rate for income above $1M, “raising taxes is a better way to control spending -- making the cost of spending clear and current” [Galor:04] Oded Galor: From Stagnation to Growth: Unified Growth Theory; Handbook of Economic Growth, Vol.1, 2004, pp.171-293 . [GAO:07] GAO: Tax Administration: Additional Time Needed to Complete Offshore Tax Evasion Examinations; Government Accountability Office report GAO-07-237, March 2007. [GAO:08] GAO: Comparison of the Reported Tax Liabilities of Foreign- and U.S.-Controlled Corporations, 1998-2005; Government Accountability Office report GAO-08-957, July 2008. [GAO:08F] GAO: Tax Compliance: Businesses Owe Billions in Federal Payroll Taxes; GAO-08-617, 23 July 2008). uncollectible. gaO noted that the IRS assigned to revenue officers about $7 billion, and about $9 billion remained in the queue awaiting assignment.In addition, GAO’s analysis found that the number of businesses with more than 20 quarters of tax debt (five years of unpaid payroll tax debt) more than doubled between 1998 and 2007 [GAO:09] GAO, International Taxation: Large U.S. Corporations and Federal Contractors with Subsidiaries in Jurisdictions Listed as Tax Havens or Financial Privacy Jurisdictions; U.S. Government Accountability Office report GAO-09-157, Dec.2008, 63pp.Of the 100 largest US corporations 83 have taxhaven subsidiaries. [GAO:12] GAO: Internal Revenue Service, Interim Results of 2012 Tax Filing Season and Summary of the Fiscal Year 2013 Budget Request; US Government Accountability Office report GAO-12-566, 20 Mar.2012, 33pp. 2012 budget %305M less than 2011. Worse performance due to other finding peiorities. Requested increase $944.5M (8%) + 2.5B + 330M for modernization . Reduced performance goals. Data in VIC spreadsheet. [GAO:13] GAO: Corporate Income Tax, Effective Tax rates an Differ Significantly from the Statutory Rate; US Government Accountability Office report GAO-13-520, May 2013, 38pp. 13%, of world- wide, 17% with local taxes, 22.7 with unprofitable filers. [GarciaUW:01]† Hector Garcia-Molina, Jeffrey Ullman, and Jenifer Widom: Database Systems, The Complete Book ; Prentice-Hall, 2001. [GarciaZambranoRG:13] Lidia Garcia-Zambrano, Arturo Rodriguez-Castellanos and Jose Domingo Garcia-Merino: Effect Of Investments On Training And Advertising On The Market Value Relevance Of Intangibles; University Of The Basque Country, Spain, 5th European Conference on Intelectual Capital, Bilbao, April 2013. [Gardner:14] David Gardner: “Why `Overvalued’ Stocks are a Buy”; The Motley Fool, 14 Jan 2014. The market does a good job over time. [GardnerR:98]† William Gardner and Joseph Rosenbaum: Intellectual Property: Database Protection and Access to Information; Science, Vol.281, Issue 5378, pp.786-787 , 7 Aug.1998. [GarmusH:01]† David Garmus and David Herron: Function Point Analysis: Measurement Practices for Successful Software Projects; Addison-Wesley Information Technology Series, 2001. [Garofalo:12] Pat Garofalo: CEOs of Tax Dodging Corporations Want to Cut Their Own Taxes Too; Nation of Change, 15 May 2012. In Obama’s plan for incomes over $250,000. [Gaskins:71] Darius W. Gaskins, jr. : “Dynamic limit pricing: Optimal pricing under Threat of Entry”; Journal of Economic Theory, Vol.3, 1971, p.306-323. A convex curve, extended by [Pakes:79] to an S-shaped diminution curve (staying high initially) implies temporary monopoly power. [Gates:98]‡ Bill Gates: "Compete, don't delete"; Economist, 11 June 1998. [Gates:00] Bill Gates: Business @ the Speed of Thought: Succeeding in the Digital Economy; Warner Books, 2000. [Gates:04] Bill Gates: "Losses due to copying must be balanced with disincentives and costs of protection methods"; quote during a discussion on "Building Confidence in a Connected Marketplace", 1 Oct 2004, Computer History Museum, Mountain View, CA. [GathmannS:07] Christina Gathmann and Uta Schönberg: "How General Is Human Capital? A Task- Based Approach“; IZA Discussion Papers 3067, Institute for the Study of Labor (IZA), , 2007; Journal of Labor Economics, University of Chicago Press, Vol.28 no.1, pp.1-49, 2010. 51 [GaukeEa:10] David Gauke et al.: Corporate Tax Reform: delivering a more comprehensive System; HM Revenue and Customs, 20 Oct. 2010. Planning By moving to full deductabilty of dividends for corporate profits, territorial taxation becomes closer. But taxhavens can stll be addressed. [Gauzente:02] Claire Gauzente: “Ethical marketing for competitive advantage on the Internet”; Academy of Marketing Science Review, vol.2001 no.10, 2002, http://www.amsreview.org/articles/gauzente10- 2001.pdf. from Sonny Chan CS207. [Gay:02] Joshua Gay: Free Software, Free Society, selected essays of Richard M. Stallman; GNU Press, 2002; reprinted with a foreword by Lawrence Lessig, 2009. Does not try to deal with software in general, but focuses on compilers, editors, and opeationg systems, while implying more [ACM]. [Garst:11] Huntsman Plan Targets Double Taxation. Posted by Brian Garst on Aug.31, 2011; Eliminate The Taxes On Capital Gains And Dividends In Order To Eliminate The Double Taxation On Investment. Capital gains and dividend taxes amount to a double-taxation on individuals who choose to invest. Because dollars invested had to first be earned, they have already been subject to the income tax. Taxing these same dollars again when capital gains are realized serves to deter productive and much-needed investment in our economy. [Gelles:13] David Gelles: “New Corporate Tax Shelter: A Merger Abroad”; The New York Times, 8 Oct.2013. An inversion by Applied Materials merging with a foreign corporation, Tokyo Electron, with a new residency in the Netherlands. Expects 17% tax instead of 22%. Likely less, since the Netherlands may only be an intermediary. [GenerationLibre:13] Anonymous: Impostition Numerique: Posture et Imposture; GenerationLibre, Mar.2013, 32pp, < http://www.generationlibre.eu/wp-content/uploads/2013/03/Fiscalite_numerique.pdf>.. A severe critique of [CollinC:13], the Google tax. In French, there is an English summary. Simple country summary of effect of tax policies on startups. [George:08] J. Russell George: Treasury Inspector General for Tax Administration Seminanual Report to Congress, Oct.2001 –March 2008; Inspector General for Tax Administration, TIGTA, 2008. Focus on intermnal audits. Acount Managment Servives (AMS). Tax gap of self-emplyment tax is $39B! Security. Tax law complexity. Excess IRA contributions. Idnty theft causing misreporting of income. [George:11] J. Russell George: Management and Performance Challenges Facing the Internal Revenue Service for Fiscal 2012; Inspector General for Tax Administration, TIGTA, 14 Oct.2011. Tax l;aw changes, specically from the affordable Health care Act (HHS), includes tax credits. Earned Income Tax Credit EITC payment, Additional Child Tax Credit, Hope Scholarship cridt (dep.education) , Refundable adption credits, Electric vehicle credit (transporation) ,Hombuyer credit, Globalization Holdings have grown from $188B to in 1976 to 14.5T in 2007. Lack of information. Dealing with differing jurisdictions. Focus on-highrisk cases. FATCA, Significant foreign opposition to FATCA. Solution is to withhold 30% of apyments to forieign finacoal institution - but does not address IP. .. Effort needed to implement changes. Hunman capital “attempts by taxpayers and tax practitioners to evade compliance with the tax laws become more sophisticated.” Globalization US businesses from 368B (1996)to nearly 15T (2007) “The IRS is still challenged by a lack of information reporting on many cross-border transactions. In addition, the varying legal requirements imposed by different jurisdictions result in complex business structures that make it difficult to determine the full scope and effect of cross-border transactions.”, “The IRS expects that these efforts will improve international tax compliance by allowing it to focus on high-risk issues and cases with greater consistency and efficiency.”, “Taxpayers with undisclosed foreign accounts and assets who do not submit a voluntary disclosure run the risk of detection by the IRS. If caught, these taxpayers face the imposition of substantial penalties, including the fraud and foreign information return penalties, as well as an increased risk of criminal prosecution. “, “According to the IRS Commissioner, “FATCA is an important development in U.S. efforts to combat offshore noncompliance. At the same time, the IRS recognizes that implementing FATCA is a major undertaking for financial institutions.”1[32] Based on the initial feedback from foreign financial institutions as well as foreign governments, the IRS will continue to face significant opposition from abroad in implementation of this Act.” [GerdesS:09]‡ Lindsey Gerdes and Louis Lavelle: “Best Places to Launch a Career”; Business Week, 14 Sep.2009. [GerthMH:11] Jeff Gerth, Megan Murphy, and Vanessa Houlder: Corporations Couldn’t Wait to `Check the Box’ on Huge Tax Break; Probublica, Nation of Change, 27 Sept.2011. [Gibbs:09]ε Robert Gibbs: Leveling the Playing Field: Curbing Tax Havens and Removing Tax Incentives For Shifting Jobs Overseas; The White House, 4 May 2009. US multinationals paid 2.3% tax in 2004. [VIC xls /pointers] [Gideon:05] Kenneth W. Gideon: The Comprehensive Business Income Tax; presentation slides, Skadden, Arps, Slade, Megher and Flom, 13 May 2005, 53 [Gleckman:10] Howard Gleckman: The Bowles-Simpson Plan: Tax Hike Or A Tax cut; Forbes, 11 Nov.2010. [Gleckman:11] Howard Gleckman: Gingrich’s Tax Plan: Big Tax Cuts, Big Deficits; Tax Policy Center and Brookings Institution, 12 Dec 2011. [Gleckman:12] Howard Gleckman: Rick Santorum's Tax Plan Would Blow A Huge Hole In The Budget; Forbes, 3 July 2012. [Gleeson:94] William Gleeson: Anderson near to Pounds 1m per partner; The Independent, 12 June 1994. In five of the big six firms, the average profit per partner ranges from between pounds 340,000 and pounds 418,000 [Gobeli MK:01] D. H. Gobeli, C. S. Mishra, and H. F. Koenig:: “Strategic value of technology and brand equity for multinational firms”; in [Contractor:01] pp.321–333. [Gobry:11] Pascal-Emmanuel Gobry: “Boom! CityVille zooms past 100 million users”; Business Insider, 13 Jan. 2011, http://www.businessinsider.com/boom-cityville-zooms-past-100-million-users-2011- 1. Freemium, from Sonny Chan CS207. [GolderY:04] Peter N. Golder and Gerard J. Tellis: Growing, Growing, Gone: Cascades, Diffusion, and Turning Points in the Product Life Cycle; International Journal of Research in Marketing, 2004 - Elsevier . [Goldman:97] Eric Goldman: Private label and Co-Branding Deals: New Deal-Making Paradigms on the Internet; Journal of Online law, 1997. [GoldscheiderJM:02] Robert Goldscheider, John Jarosz, and Carla Mullhern: "Use of the Twenty-Five Percent Rule in Valuing Intellectual Property"; Les Novelles, LES, Dec.2002. See Chapter 3 in [Parr:07] . Based on a 1950 study of a Swiss subsidiary of a U.S. company. Three year renewable terms, 20% profit, 5% royalty on revenues. IP was being maintained. Mentions that [Lee:92] , among many others, cites that rule. ] . Fig 3 vs 6 shows general unreliability of royalties based on profit, as [Parr:07 warns] . It appears that the summaries do not consider that many semiconductor products require multiple licenses. 0% licenses are likely for association members. [Gooch:00] Lawrence Gooch: "In-Process R&D"; Chapter 9, p.176, Handbook of Advanced Business Valuation, McGraw-Hill, 2000. "... the cost approach is generally not a good measure of IPRG 9in- process R&D) value”; [VICchap .5> [Goodfriend:93]‡ Marvin Goodfriend: Eurodollars; Chapter 5 in <> ; Federal reserve Bank of Richmond, VA, 1993 . 1988 estimate by Morgan 2,587B [GoodlatteS:11] Bob Goodlatte and Rober C. Scott: Business Activity Tax Simplification Act, (BATSA); HR 1439, 13 April 2011. State and Internet taxation harmonization. Cites case of Quill Corp. vs North Dakota. [Goodman:67]‡ George J.W. Goodman (George (Adam Smith): The Money Game; Random House, 1967, republished 1976. On the stock market: “in the long-run the future earnings represent present value [although] in the short run the dominant factor is the elusive [...] temper of the crowd. also George J.W George." The world is not the way they tell you it is”. [Goodman:82]‡ George J.W. George (Adam Smith): Paper Money; MacDonald & Co., 1982. [Goolsbee:00] Austan Goolsbee: “In a World Without Borders: The Impact of Taxes on Internet Commerce”; Quarterly Journal of Economics 115, May 2000, 561-576. Globalization. [Goolsbee:04]‡ Austan Goolsbee, University of Chicago - Graduate School of Business; National Bureau of Economic Research (NBER): “The Impact of Corporate Income Tax: Evidence from State Organizational Form”; Journal of Public Economics, Vol.88 no.112004, pp.2283-2299. In Retail establishments a 1% increase in corporate tax vs non-corporate tax reduced the share of corporate forms by 2.5% and 7% of sales. [GoolsbeeC:02] Austan Goolsbee and Judith A. Chevalier: Measuring Prices and Price Competition Online: Amazon and Barnes and Noble; July 2002, University of Chicago - Graduate School of Business; National Bureau of Economic Research (NBER), NBER Working Paper No.W9085. First- mover advantage, price leverage 20%. RB and QX case. [GopalMKS:03] A.Gopal, T. Mukhopadhyay, M.S. Krishnan, and K. Sivaramakrishnan: “Contracts in Offshore Software Development: An Empirical Analysis”; Management Science, Vol.49 no.12, 2003. pp.1671-1683. [Gore:08] Al Gore: The Assault on Reason; Bloomsbury Publishing, 2008. [GoreR:98] Al Gore and Robert E. Rubin: Reinventing Service at the IRS; GPO report 1998. MS01, Eliminate dollar goals. [Gordon:62]‡ Myron J. Gordon: The Investment, Financing and Valuation of the Corporation; Irwin, 1962; reprint Greenwood Press, 1982. [Gordon:82]† Myron Gordon: The Investment, Financing, and Valuation of the Corporation; The Irwin Series in Economics, Greenwood Press reprint, 1982. [Gordon:86]‡ Roger H. Gordon: “Taxation of Investment and Saving in the World Economy”; American Economic Review, Vol.76, 1986, pp.1086-1102. [GordonG:97] Joseph R. Gordon and Myron J. Gordon: "Finite Horizon Expected Growth Model"; Financial Analysts Journal, Vol.53 no.3, May June 1997, pp.52-61. [GordonH:02] Roger H. Gordon and James R. Hines jr.: “International taxation”; in [AuerbachF:02] pp.1395-1995. [GordonL:00]‡ Roger H. Gordon and Young Lee: Do Taxes Affect Corporate Debt Policy? Evidence from U.S. Corporate Tax Return Data; Korea Development Institute, 25 Aug 2000. [GordonM:95]‡ Roger H. Gordon and Jeffrey K. Mackie-Mason: “Why is there corporate taxation in a small open economy? The role of transfer pricing and income shifting”; in Martin Feldstein, James R. Hines Jr. and R. Glenn Hubbard eds., The effects of taxation on multinational corporations (Chicago: University of Chicago Press, 1995). A 10% reduction in non-corporate income tax only shifted 0.2% of assets out of corporation form.[deMooij:07]‡ risk is more important. , but see [Goolsbee:04]‡ [VICchap.9> [GordonN:97]‡ Roger H. Gordon and Soren Bo Nielsen, Tax evasion in an open economy: Value-added vs. income taxation; Journal of Public Economics, Nov.1997, 66 (2), 173-197. [GordonS:00]‡ Roger H. Gordon and J. Slemrod: “Are ‘Real’ Responses to Taxes Simply Income Shifting Between Corporate and Personal Tax Bases?” in J. Slemrod, ed., Does Atlas Shrug? The Economic Consequences of Taxing the Rich; Russell Sage Foundation and Harvard University Press, 2000., 240–80. [Gowri:98] Aditi Gowri: “Speech and Spending: Corporate Political Speech Rights Under the First Amendments”; Journal of Business Ethics, Vol.17 no.16, Dec.1998, pp.1835-1860. [GPO:12] US budget Summary Tables, Government Printing Office, 2009. [Not cited] [Graetz:02] Adjust personal income taxes to compensate for uneven burden of expenditure taxes. [Graham:94]† Dorothy Graham: "Testing"; in [Marciniak:94] [GrahamF:00] R.C. Graham Jr. and K.D. Frankberger4 ‘‘The contribution of changes in advertising expenditures to earnings and market values”; Journal of Business Research, 2000. Profits due to advertising. [VIC Ch.3.3].. {GrantThornton:08] GrantThorton: 7th Annual Government Contractor Industry Survey; 2008. [Grassley:10] Sen. Charles Grassley, republican senator from Idaho, has stated (11/18/2010) that "making the R&D tax credit permanent" should be one of the actions that Congress takes to rejuvenate manufacturing in the U. S. The context was a discussion on jobs going to China. [GravelleH:05] Jane G. Gravelle and Thomas L. Hungerford. “Corporate Tax Reform: Issues for Congress”; Congressional Research Service, April 2008. [Gravelle:09]‡ Jane G. Gravelle: Tax Havens: International tax avoidance and evasion; Congressional research Service, 9 July 2009. . [Not cited] [GravelleS:01] Jane Gravelle and Kent A. Smetters: ‘‘Who bears the Burden of the Corporate Tax in the Open Economy?”; NBER working paper no.8280, May 2001. Basis for [GravelleS:06] . Employee benefit assignments. 55 [GravelleS:06] Jane Gravelle and Kent A. Smetters: ‘‘Does the Open Economy Assumption Really Mean That Labor Bears the Burden of a Capital Income Tax?”; Advances in Economic Analysis & Policy, Vol.6 no.1, 2006. Counteracts employee benefit assignments. [Gravelle:13] Jennifer Gravelle: Options for Taxing U.S. Multinational Corporations; Congressional Budget Office, Congress of the United States, report, revised 13 Feb 2013. Reviewed by Kimberly Clausing and David Shay. [Gravelle:13T] Jennifer Gravelle: Tax havens: international Tax Avoidance and Evasion; Ceate Space. 12 Feb.2013, 60pp. [Greeley:12] Brendan Greeley: ”Obama Spoils for an Election Year Tax Fight”; Bloomberg Businessweek, 27 Feb.2012. Pp.34-36. 28%rate. 2.7% of tax take on 2010. Keeps R&E, domestic manufacturing, & renewable energy. [Green:12] Petr S. Green: “Plenty of Love, But where is the Acxtion?; Bloomberg Businessweek, 17 Sep.2012. [Greenstein:11] Robert Greenstein: Gang of Six Plan Represents Useful Step Forward, Despite Troubling Elements; Center on Budget and Priorities, 22 July 2011. Basically Bowles-Simpson. [Greenstein:12] Robert Greenstein: Cooper-LaTourette Budget Significantly to the Right of Simpson Bowles Plan; Center on Budget and Priorities, 28 March 2012. Adaptation of Bowles-Simpson. [Gregory:12] Dolores W. Gregory: IRS Withdrawing 2007 Issue Paper on Cost Sharing Buy-Ins; BNA Daily Tax Report, Jan.20, 2012. [Gregory:12T]‡ Dolores W. Gregory: “Transfer Pricing: IRS, Treasury Officials Field Questions Related to new Cost Sharing Regulations”; BNA Daily Tax Report, 15 March 2012. Recomputing RABs. Go back to basic principles if in doubt [Gregory:13A] Dolores W. Gregory: ‘‘Overcoming Veritas: Can the IRS Make a Better Argument For the Income Method in Amazon’s $2.2 Billion Challenge?”; Tax Management Transfer Pricing Report, Vol. 21 No. 959, 7 Feb.2013 [Gregory:13I] Dolores W. Gregory: Transfer Pricing: Maruca Says IRS Litigatiom Emphasizing `Reasonable Outcomes’; BNA Daily Tax Report, June 7, 2013. Selection of cases for litigation. Focus on income-based methods. [GregoryS:11] Neil Gregory and Susan Symons: Paying Taxes 2011, The global picture; The Word Bank Group and Price Waterhouse Coopers, PWC, 2011. Compares 183 countries. Taxes are on the average nearly half of earnings. Worlswide taxes are down 5% between 2006-2011. [GriffithK:04] Rachel Griffith and Alexander Klemm: "What has been the tax competition experience of the past 20 years?“; Institute for Fiscal Studies, IFS working paper W04/05, 2004. [GriffithMO:11] Rachel Griffith, Helen Miller and Martin O'Connell: "Corporate taxes and the location of intellectual property," CEPR Discussion Papers 8424, 2011. C.E.P.R. Discussion Papers. [GriffithS:09] Cara Griffith and Stephanie Stewart: Drop shipments and flash title: establishing sales tax nexus in complex commercial transactions; The Tax Adiser, Vol.40 No.9 American Institute of CPAs, 22 Sep.2009. On Amazon bookshelf. Defines, but applies it to State taxes. More description in [Waters:09]‡. [GriffithsT:93]† Thomas Griffiths and Joshua Tenenebaum: Teacakes, Trains, Taxicabs, and Toxins: A Bayesian Account of Predicting the Future; Stanford Business School report, 1993. [Grilliches:63] Zvi Grilliches: “Capital stock in investment functions: Some problems of concept and measure- ment; in Measurement in economics:Studies in mathematical economics and econometrics in memory of Yehuda Grunfeld, ed. Carl F. Christ. Stanford UniversityPress.. Measuring current effects and future effects of IGE. [Grilliches:73] Zvi Grilliches: “Research expenditures and growth accounting”; in Science and technology in economic growth, ed. B. R. Williams, , Macmillan, 1973. p.59-83. [Grilliches:80] ] Zvi Grilliches: “Returns to research and development expenditures in the private sector”; in New developments in productivity measurement and analysis, ed. J. W. Kendrick and B. N. Vaccara, Conference on Research in Income and Wealth: Studies in Income and Wealth, 1980, vol. 44. Chicago: University of Chicago Press for the National Bureau of Economic Research. p.419-54. [Grilliches:84] Zvi Grilliches: R&D, Patents, and Productivity; Univ. of Chicago Press, 1984. Rate of return for private investment in the late 50ties and early 60ties are 30-45%. 57 [Gupta:91]† Sunil Gupta: Stochastic Models of Interpurchase Time with Time-dependent Co-variates; Journal of Marketing Research, Feb, 1991, Vol.XXVIII, pp.1-15. (Erlang Distributions) [GuptEa:04]† Amar Gupta et al. : Productivity from Information Technology (PROFIT) Initiative; working papers on IT productivity and outsourcing, see http://mitsloan.mit.edu/research/profit/profit.html, 2004 [GuptaS:07] Amar Gupta and Satwik Seshasai: The 24-Hour Knowledge Factory, Using Internet technology to leverage spatial and temporal separations; ACM Transactions on Internet Technology (TOIT), Vol.7 no.3, Aug.2007, article 14. [GuptaWS:09] Amar Gupta, Gio Wiederhold , David Branson Smith, and Devin Sreecharana : Outsourcing from the Perspectives of International Protocols, Law, Intellectual Property, and Taxation; Arizona Legal Studies Discussion Paper 09-18 , University of Arizona, 7 Jan. 2009, HHHHHHHH [H&W:49]‡ "The intangibles being not reducible to statistics, the food of all bureaucracy, count for nothing"; Here And Now, 30 Oct 1949. [Haass:13] Richard Haass: Foreign Policy Begins at Home; Basic Books, 2013. Cannot separate domestic and foreoign plocy in modern economics. Coeps are as big as middle-sized countries. have. [HackerL12] Jacob S. Hacker and Nate Loewentheil: Prosperity Economics, Building an Economy for all; Yale University, 2012. Myths. Worker productivity vs compensation. Effective tax ratw low (p.59), Deferral . Low receipts. Stock option graph p.63 [HackerP:10] Jacob S. Hacker and Paul Pierson: Winner-Take-All Politics: How Washington Made the Rich Richer--and Turned Its Back on the Middle Class; Simon and Schuster, 2010. Entertaining diatribe, blames politics, uninformed electorate. Have. [Halberstam :86] David Halberstam: The Reckoning; William Morrow, 1986. Recommended by James M. Kaplan for business-technology. Is any business story more fascinating or more terrifying than the decline of US auto manufacturers in the 1960s and 1970s? By my lights, this is the best of Halberstam’s many books, far better than, say, The Best and the Brightest, which is mostly about people writing memos to each other. The Reckoning documents the rise of Nissan and the declining market share of US automakers. Why is this an important technology book? Because it provides a cautionary tale of many of the pitfalls business technologists must avoid: suspicion of new approaches, short-term decision making, managerial distance from frontline operations and distortive managerial accounting. [Haldane:09] Andrew G. Haldane: Rethinking The Financial Network; Executive Director, Financial Stability, Bank of England, Speech delivered at the Financial Student Association, Amsterdam, April 2009, [Hall:99]‡ Robert E. Hall: "The Stock Market and Capital Accumulation"; NBER Working Paper 7180, National Bureau of Economic Research, Cambridge MA, June 1999. [Hall:01]‡ Bronwyn H. Hall: Tax Incentives for innovation in the United States; Asesoria Industrial ZABALA-Spain, report Inno-00-93 the EU, 15 Jan.2001. R&E data and many more. [Hall:07] Bronwyn H. Hall: Measuring the Returns to R&D: The Depreciation Problem; Annales d'Economie et de Statistique, ENSAE, issue 79-80, Aug.200 pp.341-381. [Haller:09]‡ Tobias Stanislas Haller, BSG: Saint Matthew the Accountant Tenders His Account, 5" x 7" (oil) Tobias Stanislas Haller, BSG (brothers of Saint Gregory) 2009. http://forallsaints.wordpress.com/2011/09/21/saint-matthew-apostle-and-evangelist/ Matthew appears in the Gospels as a tax collector for the Roman government in the city of Capernaum. [HallC:10]‡ Robert Hall and Douglas Clement: “An Economist’s Economist”; Hoover Digest, Stanford University, 2010 No.4, 29 Sep.2010. 59 [Hanssens:11] Dominique Hanssens: “What Is Known About the Long-Term Impact of Advertising”;’ MASB Practitioner Paper No. 2011-01, 2011. described the relationship between advertising and sales and profit in the long term and short term with the following statement: ‘‘Advertising’s short-term impact is double to triple over the longer term.[VIC VChap.3.3] [Hansen:98] Reginald Hansen: Assessing and Tax Accounting Principles in the German Civil and Commercial Code and the Impact on Tax Compliance; European Journal of Law and Economics, Kluwer Academic Publishers, 1998, Vol.7 no.1, pp.15-47. Deterioration of the Massgeblichkeitsprinzip by the folk in the City of London. [Hanson:11] Jay Hanson: From Capitalism To Democracy; Dieoff blog [Harris:09]‡ Harris: Corporate Tax Incidence and Its Implications for Progressivity”; Urban-Brookings Tax Policy Center, Nov.2009. [Harrison:03] Bonnie Harrison: “Intangible Assets”; Chapter 10 in Weygandt, Kieso and Warfield: Fundamentals of Intermediate Accounting, Wiley 2003. Intangibles are written off over their useful lives, where the assets have determinable useful lives. Where the intangibles have indefinite useful lives, they are not amortized. Trademarks and Trade names are renewable indefinitely by the original user in periods of 10 years each. Goodwill has an indefinite life and should not be amortized. Impairment test performed at least annually, If applicable, loss recorded. No impairment if sum of expected future net cash flows from use and disposal of asset is equal to or more than the carrying amount [HarsenC:11] Brett Harsen and Alex Cwirko-Godychi: Equity and Executive Compensation at Recently Public Companies in the Technology and Life Sciences Sector; Radford Research. 2011. Data on Pre-IPO pay and derived early market value. [Hart:10] Robin Hart (CRAI): Landmark US Transfer Pricing ruling is a victory for the taxpayer; Financier Worldwide Magazine, CRA, Feb.2010. [Harvey:11] J. Richard Harvey: “Offshore Accounts: Insider’s summary of FATCA and Its Potential Future; Villanova Law Review, Vol.57 no.3, Dec. 2011”; Villanova Public Law and Legal Theory Working paper series, No.2011-24, Dec. 2011. Success of FATCA depends on other countries cooperating. Focus on Finacial institutions. Recommendations: Fix 1 Incomplete reporting depends on due diligence, 2 passthru, requires multilateral coppration. Now it’s unilateral. [Harvey:12] J. Richard Harvey: FATCA and Schedule UTP, Are these unilateral US actions doomed unless adopted by other countries?; Villanova Public Law and legal Theory Working paper series, No.2012-2005, Mar.2012. FATCA requires multilateral coppration. UYTP disclousure Now it’s unilateral [HassettB:07] Kevin A. Hassett and Alex Brill: “Revenue-Maximizing Corporate Income Taxes: The Laffer Curve in OECD Countries”; AEI Working Paper 137, Washington, DC, July 31, 2007, www.aei.org/paper/26577. NNN [HassettM:10] Kevin A. Hassett and Aparna Mathur: Spatial Tax Competition and Domestic Wages; American Enterprise Institute for Policy Research (AEI), Working paper, 1 Dec 2010. Update of a 2006 paper Taxes and Wages. If capital stocks are depleted investment shifts to lower wage countries, depressing wages [HassettM:11] Kevin A. Hassett and Aparna Mathur: Report Card on Effective Corporate Tax rates: United States Gets an F; Tax Policy Outlook 2011,No.1, American Enterprise Institute for Policy Research (AEI) no.1 Feb.2011. Statuary tax rates versus actual distribution. [HauflerS:00] Andreas Haufler and Guttorm Schjelderup: “Corporate Tax Systems and Cross Country Profit Shifting”; Oxford Economic Papers, vol.2, 2000, pp.306-325. Chap.9 [Hawkes:08] Alex Hawkes: Isle of Man urged to rebrand; Accountancy Age, 18 Jun 2008, 61 businesses , 3597 partnership, 6756 corpor. 36M form 1042 foreign persons. 29,497K employment [VIC xls /irs] [Heidegger:76] Martin Heidegger: Zur Sache des Denkens; Niemeyer Verlag, 1976. Being and time as semantic attributes. Present from Joaquin. [HeiresG:04] Neal Heiress and Jared Guckenberger: Process for calculating the economic value created by a business activity; US Patent 20040267599 A1, issued 26 Jun 2004; also US 744307. Many flow charts. [Herbst:11] Moira Herbst: “Restoring U.S. Competitiveness: Navigating a Path Forward Through Innovation and Entrepreneurship”; Center for Public Policy Innovation, Washington, D.C., Sep.7, 2011, section xxiii. R&E credits [xxiv] . Where? [VIC chap.10.5.1, R18] [HerbstM:15] Daniel Herbst: and Alexandre Max: “Peer effects on Worker output in the Laboratry Generalize Into the Field”; Science, Vol.350 Issue 6260, 30 Oct 2015. An average productivity spillover of about 12% is seen in workers joining a productive setting. [HerraizRRGB:14] Israel Herraiz, Daniel Rodriguez, Gregorio Robles, and Jesus M. Gonzales-Barahona: The Evollution of the Laws of Software Evolution,: A Discussion Based on a Systematic Literature Review; ACM Computing Surveys, Vol. 48, no.2, 2014, pp.28-1-28:28. Stabilty of growth, and paper results. [VIC Chap.5.3.3.1] [Heylighen:97]† F. Heylighen: Occam's razor; in Principia Cybernetica Web, 1997. Also the principle of parsimony. English spelling: Ockham. "Entia non sunt multiplicanda praeter necessitatem" Entities should not be multiplied unnecessarily. Base of Bayes. 63 [HinesS:09] James R Hines, jr. and Lawrence H. Summers: “How Globalization Affects Tax Design”; in Tax Policy and the Economy, Vol.23. Ed. Jeffrey R. Brown and James M. Poterba. University of Chicago Press, 2009, p.123-157. Small countries (not taxhavens) had to adapt already to deal with mobility of economic activity, and rely less on income taxes. During the period from 1950 to 2004, total world exports and imports grew by an average of 5.9% a year. From 1975 to 2004 the rate of growth of international trade relative to world output quickened for all goods to 2.3 percent a year, and for manufacturing to 3.0 percent a year. “given the looseness of the resulting legal restrictions, it is enterily possible for firms to adjust transfer prices in a tax-sensitve fashion without violating any laws” [p.7] . [Hirschey:85] M. Hirschey: “Market Structure and Market Value”; Journal of Business’; Vol. 58, No. 1 Jan.1985, pp. 89-98; University of Chicago Press Stable Chicago Press Stable, http://www.jstor.org/stable/2352911. advertising has an asset value. [Hirschey:85] M. Hirschey : “Market Structure and Market Value”; Journal of Business’; Vol. 58, No. 1 Jan.1985, pp. 89-98; University of Chicago Press Stable Chicago Press Stable, http://www.jstor.org/stable/2352911. advertising has an asset value. [VIC Ch.3.3].. [HirscheyS:92] Hirschey and S. Spencer: “Size Effects in the Market Valuation of Fundamental Factors”; Financial Analyst Journal, 1992. advertising has an asset value. [VIC Ch.3.3]. [HirscheyW:85] Mark Hirschey and Jerry J. Weygandt: Amortization Policy for Advertising and Research and Development Expenditures; Journal of Accounting Research, Vol.23,No.1, Spring, 1985, pp.326- 335. 5. R&D amortization 10-20% advertising 10-20% for non-durable goods and 30-60% for durable goods, also later [HirscheyW:98] R&D has double the life of Marketing. [Hirst:02] Clayton Hirst: “Silicon fen `needs £2bn’ to stop business exodus”; The Independent, 21 Sep.2002. .. urgent need for the UK Government to throw money at the road network. [HirtlHK:09] Peter B. Hirtle, Emily Hudson, and Andrew T. Kenyon: Copyright and Cultural Institutions; Cornell University Library, 2009, [HoggEa:08] Andrew Hogg et al.: Death and Taxes, the true toll of tax dodging; Christian Aid, London,UK, 2008. 65 [Hsieh MG:03] Ping-Hung Hsieh , C.S. Mishra, and D.H. Gobeli: “The Return on R&D versus capital expenditures in pharmaceutical and chemical industries”; IEEE Transactions on and Engineering Management, May 2003, Vol.50 no.2 , pp.141 – 150. 20% on operating margin/Tobin’s Q. [Hsueh:11]‡ Roselyn Hsueh: How China Outsmarted the WTO; RegBlog, Univ.of Pennsylvania Law School, 26 Dec.2011. [Huber:80] Mick Huber: “Offshore Tax Havens;: Crackdown”; Accounting Age, 27 Nov. 2008. Quoted in [Palan:10] “the offshore environment Has been changing over the years. It adopts new solutins when when legislative regimes come into play’ [VIC Chap.10] [Hubbard:92] Glenn Hubbard: Integration of the Individual and Corporate Tax Systems: Taxing Business Income Once; US Treasury report, 1992. Led to CBIT and Bush:05 plan. Equal taxation of all businesses. [Hughes:07]‡ Gordon Hughes: Hard Drive; 2007. On Kindle, about Xerox etc. [HuizingaG:03] Harry Huizinga & Nicodeme Gaetan:" Foreign Ownership and Corporate Income Taxation: An Empirical Evaluation“; CEPR Discussion Papers , 2003. 3952, C.E.P.R. Discussion Paper 3952; Public Economics 0310005, EconWPA ; European Economy - Economic Papers 185, Directorate General Economic and Monetary Affairs, European Commission; European Economic Review, Elsevier, Vol.50(5), pp.1223-1244, July. [HuizingaN:97] Harry Huizinga and Soren Bo Nielsen: “Capital income and profit taxation with foreign ownership of firms”; Journal of International Economics, Feb.1997, 42 (1-2), 149-165. [Hulten:06] Charles Hulten: Intangible Capital and Economic Growth; National Bureau of Economic Research (NBER), Working Paper 11948, Jan.2006, IIIIIIIIII [IASB:10] International Accounting Standards Board: Who we are and what we do; IFRS Foundation, March 2010. [IATI:12] IATI: The Israeli Success Story; Israel Advanced Techmnogy Industries, 2012, < http://www.iati.co.il/high-tech-in-israel/the-israeli-success-story>. [IBA:04]‡ Institute of Business Appraisers: Glossary. [Ibbotson:04] Ibbotson Associates: Stocks, Bonds, Bills, and Inflation; 2004 Yearbook, Wiley. The risk premium for 1926 through 1999 historic averages att of 8.1 percent ’ Cost of Capital 2000 Yearbook 34 states: “In all of the beta regressions, the total returns of the S&P 500 are used as the proxy for the market returns. The series used as a proxy for the risk-free asset is the yield on the 30-day T-bill”; [IBM:71]‡ IBM: Analysis of Some Queuing Models in Real Time Systems, 2nd edition; IBM Data Processing Division, 1971. Erlang distributions. Used, but not cited ‡ [IBM:11]‡ IBM Canada: Monitor. Manage, Perform.; IBM Software Group White paper, 2011. Referred to by (an updated version of [VBM:04]‡ [Idris:03] Kamil Idris: Intellectual Property: A Power Tool for Economic Growth – Overview; World Intellectual Property Organization, 2nd Edition, June 2003. [IEEE:98]‡ IEEE Standard for Software Maintenance; Document 1219-1998, issued 1998. Section 3 contains definitions for adaptive, corrective, emergency, and perfective maintenance. These four categories cover all of software maintenance. [IEEE:02] IEEE Standard Glossary of Software Engineering Terminology; 610.12-1990, (R2002), revised 2002. [IFPUG:02]† International Function Point Users group: IT Measurement, Practical Advice from the experts; Addison-Wesley 2002. [ILO:11] International Labour Organization: Key Indicators of the Labour Market, 7th Edition; ILO Publications, Geneva, Switzerland, 2011. [Immelt:11] Jeffrey H. Immelt: Growth Starts Here, GE 2010 Annual Report; General Electric Corporation, 25 Feb.2011. [Immelt:11I]‡ Jeff Immelt: GE’s interview; 20 Oct. 2011, 67 1985. The main law fro transger pricing, only one paragraph, the rest is defined by regulations [IRSregs-482]. [IRC-901:85] Dept.of the Treasury: USC Title 26, §901: Taxes of foreign counries and of possessions; based on The yyyy Act of 1984; US House of Representatives H.R.tttt, Public Law lll, date. Limits IRC 904. [IRC-904:85] Dept.of the Treasury: USC Title 26, §904: Limnitiation on credit; based on The yyyy Act of 1984; US House of Representatives H.R.tttt, Public Law lll, [IRC-936:75] Dept.of the Treasury: USC Title 26, §367: Puerto Rico and possession tax credit; based on The xxx Act of 1984; US House of Representatives H.R.nnnn, Public Law llllll, 1975. Defines US nearshore taxhavens. Prrovides the definition of intangible property. [IRS-400:08]‡ The 400 individual Tax Returns Reporting the Highest Adjusted Gross incomes Each Year, 1992-2203. IRS, [IRS-EF:09] IRS: Fiscal Year 2008 Enforcement Results; 2009, 69 [IRS-TAM:09] IRS: Whether a network used in a business is intangible property, foreign goodwill, or going concern value per §936(h)(3)(B); TAM # 20090724,10 Nov. 2008 release date 13 Feb 2009. They are all IP, unless tainted. [IRS-TF:12]‡ IRS: The Tax gap for the year 2006, overview. $450B. Corp. non-reporting $122B business income on individual returns, 48B large corps, 18B small corps. [IRS-TG:07] IRS: Reducing the Federal Tax Gap, A Report on Improving Voluntary Compliance; Department of the Treasury, 2 Aug.2007. http://www.irs.gov/pub/irs-ews/ tax_gap_report_final_080207_linked.pdf. [IRS-TG:12] IRS: Official IRS Local Travel Guide; Internal Revenue manual, Part 1, Chapter 32, Section 1, 7 Feb 2012. The section 25 Jan 2008 (30.5.2.5) on foreign travel has been deleted as of 7 Feb.2012 [IRS-TI:09]‡ IRS: Transactions of Interest; IRS Revenue Bulletin 2009-31, 3 Aug.2009. Notes about tax abuse, manly for individual taxes. [IRS-TI:11]‡ IRS tax information for corporations: FASB Interpretation No.48, Accounting for Uncertainty in Income Taxes; IRS, 17 March 2011 [IRS-TP:88]‡ IRS: A study of Transfer Pricing under Section 482 of the Code; Oct 1988. = [Chapoton:88]‡ [IRS-TP:94] IRS: Regulations on Transfer Pricing, Methods to Determine Taxable Income In Connection with a Transfer of Intangible Property; U.S. Internal Revenue Service: Title 26 Chap.I Subchap.A Part 1 §1.482-4, 8 Jul.1994; amended 4 Aug.2006, Federal Register, Vol.71 no.150, pp.44479-44519. [IRS-TP:04] IRS: Studies into transfer pricing rules, Income Tax Treaties, and Corporate Expatriation, amendments to IRC § 482; US Congress, Subsec.806, Pub.L.108-357, 2004. [IRS-TP:07]‡ Transfer Pricing; 28 Nov 2007. [IRS-TP:12] Regulations on Transfer Pricing, Methods to Determine Taxable Income In Connection with a Cost Sharing Arrangement; U.S. Internal Revenue Service: T.D. 9568, 19 Mar.2012. In Federal Register and effective Dec.2011, Plattforms, PCT versus CST. [IRS-TS:06] IRS: Final report on Treatment of Services under Section 482--9T; August 2006, 189pp. CostPlusMethod , [IRS-TT:10]‡ IRS: United States Income Tax Treaties - A to Z; [IRS-TS:06] IRS: Final report on Treatment of Services under Section 482--9T; Aug.2006, 189pp. CostPlusMethod, [IRSregs482-7(c):96]‡ T.D. 8670; 18 Sep.1996 Revision of Section 482 Cost Sharing Regulations. These regulations eliminate the active conduct rule of _1.482-7(c) as a requirement for qualification as a controlled participant in a qualified cost sharing arrangement. Section 1.482-7(c)(1) of these regulations substitutes a general rule that a controlled taxpayer may be a controlled participant in a cost sharing arrangement only if it reasonably anticipates that it will derive benefits from the use of covered intangibles. In addition, _1.482-7(f)(3)(ii) provides that if a controlled participant transfers covered intangibles to another controlled taxpayer, the participant's benefits will be measured with reference to the transferee's benefits rather than with reference to any consideration paid by the transferee. (This gives rise to results similar to those under the subgroup rules of the proposed regulations by different mechanics.) Finally, _1.482-7(f)(3)(ii) continues to provide that the amount of benefits that each of the controlled participants is reasonably anticipated to derive from covered intangibles must be measured on a basis that is consistent for all such participants. [IRSregs482-7:01]‡ Internal Revenue Service: Regulations on Transfer Pricing, Sharing of costs; Title 26 Chap.I Subchap.A Part 1 §1.482-7, 2001. [IRSregs482-8:94]‡ Internal Revenue Service: Regulations on Transfer Pricing, Examples of the best method rule; Title 26 Chap.I Subchap.A Part 1 §1.482-8, 1994. [IRSregs936-6b:96]‡ Internal Revenue Service: T.D. 8669 10/8/1996 Computation Of Combined Taxable Income Under the Profit Split Method When the Possession Product Is a Component Product or an End-Product Form for Purposes of the Possessions Credit Under Section 936 [ITEP:00]‡ (ITEP) Institute on Taxation and Economic Policy, Study Finds Resurgence in Corporate Tax Avoidance, 19 Oct.2000, pp.1-3. [ItoN:14] Kunio Ito, Makoto Nakano (eds.): International Perspectives on Accounting and Corporate Behavior; Springer 2014. IFRS versus local accounting standards. JJJJJJJJJ [Jackson:10] James K. Jackson: Outsourcing and Insourcing Jobs in the U.S. Economy: Evidence based on Foreign Investment; Congressional Research Service, Report for Congress, Cornell University, 15 April 2010. Data specific for multinational corporations and their affiliates, outsourcing, productivity, employment over time, intrafirm trade, sales, R&D, [VIC xls /pointers] [Jacobs:10]‡ Vernon K. Jacobs: The Tax Reform Alternative, Txation, Inflation, and Expatriation; Offdshore Press Inc, Prarie Village KS. Discrimnatory taxes. Elimnate all income taxes, Move to a consumption tax. No double tax on cororate profits. Discusses Flat, fair, Sales taxes (best?) VAT taxes, The solution is to move offshore! [Jacobs:12] Deborah L. Jacobs: The Best Foreign Retirement Havens; Forbes, 21 Nov 2012 [JacobsonL:15] Ivar Jacobson and Harold “Bud” Lawson (eds,) : Software Engineering in the Systems Context; College Publications. 2015.www.collegepublications.co.uk . [JaffeT:02] A. B. Jaffe and M. Trajtenberg, eds.: Patents, Citations and Innovations: A Window into the Knowledge Economy; MIT Press, 2002. [JagadishEA:14] H. V. Jagadish, Johannes Gehrke, Alexandros Labrinidis, Yannis Papakonstantinou, Jignesh M. Patel, Raghu Ramakrishnan, and Cyrus Shahabi: “Big Data and Its Technical Challenges”; Communications of the ACM, Vol.57, no.7, July 2014, pages 86-94 [JanebaP:99]‡ Eckhard Janeba and Wolfgang Peters: “Tax Evasion, Tax Competition, and the Gains from Nondiscrimination: The Case of Interest Taxation in Europe”; The Economic Journal, Vol.109:, 199, pp.93-101. [JanebaS:03] Eckhard Janeba and Michael Smart: “Is Targeted Tax Competition Less Harmful than its Remedies?”; International Tax and Public Finance, Vol.10, 2003, pp.259-280. Uses immobile for tangible and mobile for capital and intangible assets. [Jayson:10] Seth Jayson: Here’s How Flextronics International May be Failing You; The Motley Fool, 30 Nov 2010. [VIC xls /forest 71 [JCT:84]‡ Joint Committee On Taxation: General Explanation of the Revenue Provisions of the Deficit Reduction Act of 1984; US Congress, JCS-41-84, 31 Dec.1984 ([Rostenkowski84]). [JCT:03] JCT: Report of the Joint Committee on Taxation Relating to the Internal Revenue Service as Required by the IRS Reform and Restructuring Act of 1998; Joint Committee on Taxation, 20 May 2003, 174pp., Modernization, recruitment, staff p.64, p160. Corporate Tax shelters p.5-6, Audit 5,7 32, 36, 85, unauthorized inspection of returns (§1203) p.9, 128-129, p.156 tax gap $280B and growing, Data on hrs/return corps and large corps p106 , Cycle days large corps 567 p.140. 80% need change p.141. appeals 250, tax court p151. Top salaries, with priors. p132. Tenure p.134. [JCT:06] Joint Committee on Taxation: The Impact of International Tax Reform: Background and Selected Issues Relating to U.S. International Tax Rules and the Competitiveness of U.S Businesses; JCT report JCX-22-06, 21 June 2006. World-wide vs. Territorial. [JCT:08]‡ Joint Committee On Taxation: A reconsideration of Tax expenditure Analysis ; JCX 37-08, 12 may 2008. Tax subsifies are tax provisons that are “deliberately inconsistent with an identifiable general rule of the present tax law” quted by Hungerford:11]‡ [JCT:10] Joint Committee on Taxation: Present Law and Background Related to Possible Income Shifting and Transfer Pricing; JCT report (JCX-37-10, 20 July 2010. Section 936 Conversions-p.37. [JCT:11] JCT: Tax Incentives for Research, Experimentation, and Innovation; Joint Committee on TaxationR&E §174. Compares other countries.forms get most (table 3) Complex, compliance cost.; and JCT: Background Information on TaxExpenditure Analysis and Historical Survey of Tax Expenditure Estimates; Joint Committee on Taxation JCX-15-11, 28 Feb.2011, 37pp. and JCX-45- 11, 16 Sep.2011. [JCT:11P]‡ Joint Committee On Taxation: Description of Revenue Provisions Contained in the President’s Fiscal Year 2012 Budget Proposal; US Congress, JCS-3-11USPO, June 2011. Deferral (p.161, property transfers p.218. [JCT-12:12] JCT: Selected Issues Relating to Choice of Business Entity; Joint Committee on Taxation, 27 July 2012, JCX 66-12, 88pp.C-corps vs LLCs , pass-throughs . data 22.6 soleprops, 1.7M C-corps, 1.9m farms, 3.1 LLC, 4.1m S-corps.(since 1958) . Growing in all sizes, but more stable since 2003. In HMAT.xlx Corptax, Uniform pass-through. Large c-corp – large S corp by 2003 [JCT-18:12] JCT: Overview of the Federal Tax System as in Effect for 2012; Joint Committee on Taxation, 24 Feb.2012, JCX 66-18, 32pp. Good description with data. [Jefferson:1816]‡ Thomas Jefferson, 1816 “I hope we shall... crush in its birth the aristocracy of our moneyed corporations which dare already to challenge our government in a trial of strength, and bid defiance to the laws of our country”; [Johnson:05S] Calvin H. Johnson: Tales from the Skunk Works: The Basis-Shift or Defective Redemption Shelter; Tax Analysts, Special report, 2005. “Complexity has a tendency to intimidate and deter any outside review. “ Individual tax shelters promoted are FLIP — short for ‘‘Foreign Leveraged Investment Program’ using a Cayman corporation, ’; later OPIS — short for ‘‘Offshore Portfolio Investment Strategy”using a Cayman partnership and derivatives. [Johnson:05V] Erinn R. Johnson: "A $13.5 billion merger between Symantec Corp. and VERITAS Software Corp"; Black Enterprise, 2005. 13.5M , later valued at 11B, actually paid 13.2 [Johnson:07] Calvin H. Johnson: “Replace the Corporate Tax with a Market Capitalization Tax”; Tax Notes, Vol.117, 10 Dec. 2007, pp.1082. [Johnson:08] Colin Johnson: “Analog design expertise is rare, valuable” 04 Jan 1606; EE Times, 27 May 2008. [Johnson:12]‡ Sarah Johnson: “More Vitriol Aimed at Obama’s Tax Plan”; CFO magazine, 7 Mar.2012. Changes in taxation of pass throughs may again reconsider their structure. Also LIFO. ransfer pricing. [JohnsonK:xx] Johnson and Kaplan: Relevance Lost; [Johnston:98]‡ David Cay Johnston: Behind IRS hearings, a GOP plan to End the Tax Code; The New York Times, 4 May 1998. Quotes Harberger and later papers that put more of the burden of the corporate tax on labor. [Johnston:02]‡ David Cay Johnston: “IRS audits of Working poor increase”; NYT , 1 March 2002. [Johnston:03] David Cay Johnston: Perfectly Legal; Portofolio Publishers, 2003, Penguin 2005. IRS unaware of many tax fraud techniques p2. Audit as an option value p 168. Inversion p238. Jonathan Blattmachr p264. Congress unaware p294. Rossotti final report on audits p296. Audits down p298. Trust in ATA p300. Archer: pull it out by its roots p.301. [Johnston:03E]‡ David Cay Johnston: “Tax Moves by Enron Said to Mystify the I.R.S.”; The New York Times, 13 Feb.2003. The IRS and Enron "Enron and other big companies have escaped taxes in recent years through financial maneuvers so complex that the Internal Revenue Service has been unable to understand them," and that these transactions, while legal, "create [undisclosed] risks for shareholders" [Johnston:07]‡ David Cay Johnston: Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense, (and StickYou with the Bill); Reed Elsevier, 2007, Portfolio Trade, 30 Dec.2008. Remy Welling, an Internal Revenue Service investigator who blew the whistle on improper tax breaks for the wealthy and lost her job. Review: no solutions at all. Settlemnts sealed p.198. [Johnston:09] David Cay Johnston: Donald C. Alexander, 87, Who Resisted Nixob at I.R.S., Is Dead; NYT, 8 Feb. 2009. IRS Commissioner 1973 to 1977. “prissy about legal procedure”. [Johnston:11]‡ David Cay Johnston: First Look at US Pay data, it’s awful; Reuters, 19 Oct 2011, based on [SSN:11]‡; Reuters Video: U.S. median wage lowest since 1999; 20 Oct 2011, 73 Act, part of a 2010 jobs bill. (France, Germany, Italy, Spain, and UK), not Switzerland, Canada, China, Japan. The primary taxhavens are ignored as well.. [Jones:95]‡† Capers Jones: "Backfiring: Converting Lines of Code to Function Points"; IEEE Computer, Vol.28 no.11, Nov.1995, pp.87-88. [Jones:96] Capers Jones: Applied Software Measurement: Assuring Productivity and Quality; McGraw- Hill, 1996. [VIC Ch5.3.3]. [Jones:97]† T. Capers Jones: Software Quality -- Analysis and Guidelines for Success; International Thomson Computer Press, Boston, 1997. [Jones:97]† T. Capers Jones: Applied Software Measurement: Assuring Productivity and Quality; Prentice Hall - PWS. 1997 [Jones:98] † T. Capers Jones: Estimating Software Costs;; 2nd edition 2007, McGraw-Hill, 1998. Includes code size ratios for several kanguages, [VIC Ch5.3.3]. [Jones:02] Handel H. Jones: “How to Slow the Design Cost Spiral”; Electronics Design Chain, Summer 2002. Data on ratio of chip hardware to software efforts over time [VIC Ch5.3.3.1]. [Jones:05]‡ Charles I. Jones, 2004. "Growth and Ideas“; NBER Working Papers 10767, National Bureau of Economic Research, Inc.; Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, Vol.1, chapter 16, Elseviers, pp.1063-1111. [Jones:13C] Capers Jones: A Hort History of Software Estimation Tools, v.12; 12 Aug.2013. retrieved from Table 8 illustrates a factor in first mover advantage. . [VIC Ch5.3.3]. [Jones:13]‡ Sam Jones: Cayman Islands to open to scrutiny; Financial Times, 16 Jan 2013. [VIC 6.1] [JonesCNDG:13] Robert P. Jones, Daniel Cox, Juhem Navarro-Rivera, E.J. Dionne, Jr. and William A. Galston: Do Americans Believe Capitalism & Government Are Working? Findings from the 2013 Economic Values Survey by the Public Religion Research Institute and Governance Studies at Brookings, 18 Jul.2013. Overall half of Americans still do. [VIC Ch.10] [JonesW:00] Jones, C. I., and J. C. Williams: “Too Much of a Good Thing? The Economics of Investment in R&D”; Journal of Economic Growth, Vol.5 No.1, 2000, pp.65–85. [Jopson:05]‡ Barney Jopson: “Global standards: A challenge not yet surmounted ”; Financial Times, 7 Sep.2005. David Tweedie One set of financial accounting rules. [Jorda:03] Karl F. Jorda: "Color Me Confused, Confounded," Les Nouvelles, Journal of the Licensing Executives Society"; Vol. XXXVIII, no.2, June 2003, pp. 53-56. Alternatives in licensing [VIC App.C.] [JordaJ:07] Karl F. Jorda and Wayne Jaeschke: "Harvesting New Intellectual Assets: The Role of Business Method Patents and Trade Secrets in Strategic IP Management"; in [Kahn:07]. [VIC Chap.3.1.1] [JorgensonLN:06]‡ Dale W. Jorgenson, J. Steven Landefeld, and William D. Nordhaus, eds.: A New Architecture for the U.S. National Accounts; Studies in Income and Wealth, Vol.66, Chicago: University of Chicago Press, for the National Bureau of Economic Research, 2006. [JorgeS:90]‡ Antonio Jorge, Jorge Salazar-Carrillo: Lucrum Cessans, Damnum Emergens and the Market Place; Journal of Forensic Economics: Winter 1990, Vol.4 no.1, pp.117-118. : Lucrum Cessans= Lost profits, Damnum Emergens = Actual losses. Concepts in French law. The term foregone profits is, indeed, an ambiguous one. Strictly speaking, it is a conceptual category radically alien to the logic of economics itself. [Joseph:13] Mathai Joseph: Digital Republic, India’s Rise to IT Power, History and Memoir: Power Publishers, 2013. On Kindle & cloud [Jovanovich:02] Juan Martin Jovanovich: Customs Valuation and Transfer Pricing: Is It Possible to Harmonize Customs and Tax Rules?; Kluwer, Series on International Taxation, 2002. [Jussawalla:92] Meheroo Jussawalla: The Economics of Intellectual Property in a World Without Frontiers; Praeger/Greenwood, 1993. Fujitsu-IBM case, p.113. KKKKKKKK [Kahn:07] Edward Kahn: Innovate or Perish, Wiley, 2007. [Kahn:12] Jeremy Kahn: Malta Lures Hedge Funds with 300 Days of Sunshine; Bloomberg Markets Magazine, 10 Jan 2012. As of early November, the number of funds located in Malta had grown to more than 500 with 8 billion euros ($10.7 billion) under management from 165 funds with less than 5 billion euros under management in 2006, according to the Malta Financial Services Authority(MFSA). [VIC 6.3.1] [Kaiser:09] Robert G. Kaiser: So damn Much Money; Knopf, 2009. On lobbying, lobbyists and Congress. [VIC 8.2.2] [KakaKS:06]‡ Noshir F. Kaka, Shailesh S. Kekre, and Saipriya Sarangan: “Benchmarking India's business process outsourcers”; McKinsey Quarterly, July 2006. [VIC 6.4] [KamiyamaSM:06]‡ S. Kamiyama, J.Sheehan, and C.Martinez: “Valuation and Exploitation of Intellectual Property”; STI Working Paper 2006/5, 2006, Statistical Analysis of Science, Technology and Industry. 75 [Keefe:16] Patrick Radden Keefe: “The Bank Robber”, Thev New Yorker, 30 May 2006, pp.37-47. Hervé Falciani removed data on hidden accounts by tax evaders from H.S.B.C. in Geneva, becoming a criminal in Switzerland and a hero in France. Swiss pprivacy protection law being challenged. [Keen:01] Michael Keen: “Preferential Regimes Can Make Tax Competition Less Harmful”; National Tax Journal, vol.54, 2001, pp.757-762. Compares two symmetric countries, and shows that tax revenues will decrease. But does not consider Double Irish nor fairness. [KellerY:03] Wolfgang Keller and Stephen R. Yeaple: Multinational Enterprises, International Trade, and Productivity Growth, Firm-level Evidence from the United States; IMF Working Paper WP/03/248, International Monetary Fund, Dec.2003; NBER Working paper 9504, Feb.2003. Published 2009. Data from the International Investment Division, U.S. Bureau of Economic Analysis (BEA). Have. [KellerY:09] Wolfgang Keller and Stephen R. Yeaple: “Multinational Enterprises, International Trade, and Productivity Growth, Firm-level Evidence from the United States”; The Review of Economics and Statistics, MIT Press, Vol.91 no.4, pp.821-831. Data from the International Investment Division, U.S. Bureau of Economic Analysis (BEA). Published version of [KellerY:03]‡. [KeisoWw:13] Donald E. Kieso, Jerry J. Weygandt, and Terry Warfield: Intermediate Accounting; Wiley, 2013. "The concepts we presented in Chapter 2 determine what to recognize in the accounts. An item should be recognized in the financial statements if it is an element, is measurable, and is relevant and representationally faithful. Consider human resources. R. G. Barry & Co. at one time reported as supplemental data total assets of $14,055,926, including $986,094 for “Net investments in human resources.” AT&T and ExxonMobil also experimented with human resource accounting. Should we value employees for balance sheet and income statement purposes? Certainly skilled employees are an important asset (highly relevant), but the problems of determining their value and measuring it reliably have not yet been solved. Consequently, human resources are not recorded. Perhaps when measurement techniques become more sophisticated and accepted, such information will be presented, if only in supplemental form." [Kelton:85] W.D. Kelton: “Transient Exponential-Erlang Queues and Steady-State Simulation”; Communications of the ACM, Vol. 28 no.7, Jul.1985, pp.741-749. [Kemerer:93]† Chris Kemerer: "Reliability of Function Points Measurement: A Field Experiment"; Comm. ACM, Vol.36 no.2, Feb.1993, pp.85-97. [KemmererL:12] Jonathan E. Kemmerer and Jiaqing Lu: Profitabilty and royalty rates across Industry: Some preliminary evidence; Global Valuation Institute (Yves Courtois, DougMvPhee and Jean Florent Rerolle), KPMG, 2012, 24pp.. [Kennedy:06] : Garcetti v. Ceballos, 547 U.S. 410; Supreme Court of the United States, 2006. First Amendment free speech protections for government employees. The plaintiff in the case was a district attorney who claimed that he had been passed up for a promotion for criticizing the legitimacy of a warrant. The Court ruled, in a 5-4 decision, that because his statements were made pursuant to his position as a public employee, rather than as a private citizen, his speech had no First Amendment protection.[VIC 8.7.3]. [Kennedy:07] Justice Anthony Kennedy: Microsoft Corp. v. AT&T Corp.; Supreme Court of the United States 30 April 2007. Manufacturing CD copies offshore from a Golden master disk supplied from the US does not infringe US patent rights. [VIC Ch3.1.1] [KenneyD:05] Martin Kenney and Rafiq Dossani: “Offshoring and the Future of U.S. Engineering: an Overview”; The Bridge, National Academy of Engineering, Fall 2005. Introduction to related articles in the issue. Closing Article by William Wulf: “A Disturbing Mosaic”.[VIC ch9.3]. [Kenny:11] Charles Kenny: “Small Isn’t beautiful”; Bloomberg Businessweek, 3 Oct.2011. Only a very small fraction of small businesses innovate and grow. Based on [HurstP:11] [VIC. Ch9.2.2]. [Kenny:14] Charles Kenny: “Factory Joibs Are Gone. Get Over It;” Bloomberg Businessweek, 27 Jan.20141. 1953 manufacturing was 28% of GDP, 12% in 2012, bit with GDP growth, that means it tripled in 60 years.. But fewer people are needed. 16M in 1953 and 12M in 2012. Protecting from cheap manufacturing offshore hurts the US workers overall. [VIC Ch9.6.2]. [KerinVP:92] Roger A. Kerin, P. Rajan Varadarajan and Robert A. Peterson: “First-mover advantage: A synthesis, conceptual framework, and research propositions”; The Journal of Marketing, 1992, pp: 33-52. Model with 19=8 variables, no quantification. [KerriganHWLW:03] Shawn Kerrigan, Charles Heenan, Haoyi Wang, Kincho Law, and Gio Wiederhold: "Regulatory Information Management and Compliance Assistance"; NSF's National Conference on Digital Government Research (dg.o2003) (under Panels/E-rulemaking), Boston, May 2003. [KesslerE:06] Wolfgang Kessler and Rolf Eicke: “Closer to Haven? New German Tax Planning Opportunities; Tax Notes International, Vol.42 no.6, 8 May 2006. Dutch Sandwiches are called and illustrated as Hilversum 1 & 2. [KesslerE:10] Wolfgang Kessler and Rolf Eicke: “The New German GAAP – the Gap Between Commercial and Tax Accounting”; Tax Notes International, Vol.59 no.7, 16 Aug), 2010. For more than 100 years the principle of strict book-tax conformity (or the authoritative principle, or Maβgeblichkeitsprinzip) ("§ 5 exp. 1 P. 2 EStG “) was the most striking feature of German tax accounting. In fact, since the enactment of the German Commercial Code (Handelsgesetzbuch, or HGB) on Jan.1, 1900, this principle was a pillar that survived all storms of reforms until the last reform, the Accounting Modernization Act (Bilanzmodernisierungsgesetz) went into force on May 29, 2009. [Ketsdever:10]‡ Nathan Ketsdever: The US should ablish agricultural subsidies; IDEA discussion, 27 Aug.2010, 77 [KingL:93] Robert G. King and Ross Levine: "Finance, Entrepreneurship And Growth: Theory And Evidence“; Journal of Monetary Economics, Elsevier, Vol.32(3), pp.513-542, December. 1993. [Kirkegaard:04] Jacob F. Kirkegaard: “Offshore Outsourcing – Much Ado About What”; CESifo Forum, a quarterly journal, Summer 2004, The IFO institute for Economic Research and Ludwig- Maximilians-Universität , Munich, Germany, www.cesifo.de, pp.22-29. Focus is on jobs, and corporate income, Globalization. [Kirkpatrick:11] David Kirkpatrick: Now Every Compnay is a Software Company; Forbes, 30 Nov. 2011. [Klein:11a,b] Ezra Klein: Herman Cain’s 9-9-9 plan in One Table; & The 9-9-9 plan in One (very-long) graph; Washington Post, 18 & 19 Oct 2011. [KleinK:01] Kenneth Klein and Philip Karter: Transfer Pricing for Services; Chapter 44 in [Feinschreiber:01] Transfer Pricing Handbook, 3rd Edition, Wiley, 2001. Here cost can be used for value. [VIC Chap.4] [Kleinbard:05] Edward Kleinbard: The Business Enterprise Tax [BEIT] ; presented to The President’s Advisory Panel on Tax Reform, USC, May 2005.. business deductions for interest or dividends paid equal to COCA. , annually included by investors. Reduce taxe to reduce Evasion (slide42) [VIC Chap.8.6.2.2] [Kleinbard:07]‡ Edward Kleinbard: Rehabilitating the Busienss Income Tax; Brookings Institution, June 2007, 64pp. A business level consumption tax proposal uses a Cost-of-capital-allowance to tac only non-routine returns. No double taxation. Review of current tax problems and evasion. Balance debt vs equity. Deals with derivatives. [VIC Chap.8.6.2.2] [Kleinbard:10]‡ Edward Kleinbard: “An American Dual Income Tax: Nordic Precedents”; Nw. J.L. & Soc. Pol’y, Vol.5, 2010, p.41. [VIC Chap.8.6] [Kleinbard:12]‡ Edward Kleinbard: “Stateless Income”; Florida Tax Rev., Vol.9, 2011, p. 699. Cited by Sullivan. ..[ACM]. [VIC Chap.10.12.2] Very thorough exposition. [Kleinbard:12C]‡ Edward Kleinbard: “The Sorry State of Capital Income Taxation”; NYU Colloquium in Tax Policy and Public Finance, 6 March 2012. Discusses Bain Capital 30% carried interest. Not for attribution. [VIC Chap.10.8.2] [Kleinbard:12R]‡ Edward Kleinbard: “Mitt Romney’s Marvelously Unburdened Income”: Huffington Post, 27 Jan.2012. [VIC 10.9-G9] [Kleinbard:13] Edward D. Kleinbard: Testimony to the US House of Represenatives Ways and Means Committee; 13 June 2013. [VIC Chap.10] [Kleinbard:14] Edward D. Kleinbard: “Competitiveness' Has Nothing to Do With It”; USC Gould School paper 14-26; Tax Notes Vol. 144. 1055, 1 Sep.2014. On Inversions [VIC Chap.2.7] [Klepper:96] Steven Klepper: Entry, Exit, Growth, and Innovation over the Product Life Cycle; The American Economic Review, Vol.86 no.3, June 1996, pp.562-583. 8 firms and more equations. [VIC Chap 3.2.3] [Knoll:06] Michael S. Knoll: Taxes and Competitiveness; Univ. of Penn., Inst for Law & Econ Research Paper No.06-28, 14 Dec.2006. UBIT. Neutrality, not intangible not offshore. Foreign real estate investment, no US laws can fix that. [VIC Chap.10.10.4] [Knoll:07] Michael S. Knoll: Business Taxes and International Competitiveness; paper 123, American Law & Economics Association, Annual Meeting 2008, 6. UBIT. Neutrality, not intangible , offshore.interest imbalance Foreign real estate investment, no US laws can fix that. [VIC 10.10.4] [Kocieniewski:10] David Kocieniewski: “I.R.S. plans to uncover Companies’ Tax Strategies”; The New York Times, 24 Aug.2010. [VIC 8.7.4] ..[ACM]. [Kocieniewski:11B] David Kocieniewski: “U.S. Business Has High Tax rates, But Pays Less”; The New York Times, 2 May 2011. [VIC xls /taxexpenditures] [VIC Chap.9.4.2] [Kocieniewski:11G] David Kocieniewski: “G.E.’s Strategies Let It Avoid Taxes Altogether”; The New York Times, 24 March, 2011. Corporate taxes constituted 30 percent of all federal revenue in the mid- 1950s. That rate had fallen to 6.6 percent by 2009. 975 employees in tax department. Some later corrections re state and future taxes. GE has $90B offshore. graphics. ..[ACM]. [Kocieniewski:11T]‡ David Kocieniewski: “Companies Push for Tax Break on Foreign Cash,” The New York Times, June 19, 2011. Repatriation. [VIC 7.6] ..[ACM]. [VIC Chap.9.2.3] [Kocieniewski:11V] David Kocieniewski: “Rich Tax Breaks Bolster Makers of Video Games”; The New York Times, 10 Sep.2011. Interaction of R&E credits and taxhavens. Tax 98M, Profits 1.2B over 5 years, net loss this year. 79 Taxpayer Advocate, 2007 Annual Report to Congress 138, Vol.II,pp.138-180, [Kroon:00] Andries Kroon: The Netherlands and Netherlands Antilles in International Tax Planning; in [Ogley:00] , pp.32-46. [Krouse:12] Sarah Krouse: “Budget day scramble for estate agents and lawyers”; Financial News, DowJones, 23 March 2012. [KruchtenOS:06]† P. Kruchten, H. Obbink, J. Stafford: "The Past, Present, and Future for Software Architecture"; IEEE Software, v. 23 no.2, pp.22- 30. [Krugman:94] Paul Krugman: “Competetiveness: A dangerous obsession”; Foreign Affairs, Vol.73, March /April 1994, pp.28-44. [Krugman:07] Paul Krugman: The Conscience of a Liberal; W.W. Norton, 2007. Also The New York Times blog. [Krugman:08] Paul Krugman: “What to do”; The New York Review of Books, Vol.55 no.20, 18 Dec. 2008. More stimulus [Krugman:09] Paul Krugman: A Country is not a Company; Harvard Business School Press, Nov.2009. Was on Kindle, now in references Reprint of 1996 Harvard Business school paper. Balance among countries; advice ignores stemming the identified current outflow of Treasury bills. It’s all tangibles. [Krugman:12] Paul Krugman: End The Depression Now!; W.W. Norton , 2012. At EPI.(VIC Ch.10) [Krym:13] Nick Krym: Outsource It! A No-Holds-Barred Look at the Good, the Bad, and the Ugly of Offshoring Tech Projects; The Prgamtic Bookshlf, O’Reilly Media, Feb. 2013. [KueblerE:01] D. Kuebler and W. Eibach: Metering and Accounting for Web Services, A dynamic e- business solution: IBM Developer Works, 2001. [Kuehn:13] Kai-Uwe Kühn, Fiona Scott Morton, and Howard Shelanski: Standard-setting Organizations Can Help Solve the Standard Essential Licensing problem; CPI Antitrust Chronicle, Mar.2013. Cited by [Breslin;13] “The F/RAND dispute resolution process should require that the licensor specify a cash price for its SEPs as an alternative to other pricing arrangements as an aid in evaltion of the proposed license terms by the third party. ... “. [KumraS:05] Gautam Kumra and Jayant Sinha: "The next Hurdle for Indian IT"; McKinsey Quarterly, Issue 4 (Premium) 2003 Special Edition: Interview with Naranay Murthy (IIT Kanpur MS 1969): Global directions and Infosys, LLLLLLLL [LafferM:10] Arthur B. Laffer and Stephen Moore: Return to Prosperity; Threshold Publications, Simon & Schuster, 2010. Good governance proposals in intro. Trade recommendations ignore IP. Proposes a flat tax in individuals and businesses with few deductions, only labor. Fixed rate for corporations. Many data points, not systematically organized. Have. [VIC xls /taxes] 81 [Laitner S:13] John Laitner and Dmitriy Stolyarov: “Derivative Ideas and the Value of Intangible Assets “; International Economic Review, Vol. 54, No. 1, February 2013. Quantitatve results are based on renewals of patents. “Derivate technology accounts for nearly 70% to 80% is supported in this pdf article. I have included an Excel spreadsheet that derives these values. You can change the cell highlighted to determine the life. If theta is .75 and lamda is .1712 the average of the values reported in the article, the life is 23 years. For example if theta is changed to zero, then life is six years." [Lammers:86] Susan Lammers: Programmers at Work; Microsoft press, 1986. [LambN:01] Reinhold P. Lamb and Katheryn Northington: “The Root of Reported Betas”; J. Investing, 2001, pp,50-53. [LaMonica:05] Martin LaMonica: “Open source reshaping services market”; CNET News, 10 Jan.2005. [LandsbaumG:85]† Jerome B. Landsbaum and Robert L. Glass: Measuring and Motivating Maintenance Programmers; Prentice-Hall, 1985. [Langbein:86] Stanley I. Langbein: The Unitary Method and the Myth of Arm's Length; Tax Notes 625, 17 Feb.1986, Vol.30, 1986. Cited by Durst for early arms length [Larcker:04]† David Larcker: in "Back to the Drawing Board: Is the Traditional Theory of the Firm Obsolete?"; Strategic Management, Wharton On-line report 1047, Sep.2004. [LauLW:05a] Gloria T. Lau, Kincho H. Law, and Gio Wiederhold: "A Relatedness Analysis Tool for Comparing Drafted Regulations and Associated Public Comments"; I/S: A Journal of Law and Policy for the Information Society, OSU & CMU, Vol.1 No.1, 2005, pp.95-110. [LauLW:05c] Gloria T. Lau, Kincho H. Law, and Gio Wiederhold: "Legal Information Retrieval and Application on E-Rulemaking"; Tenth International Conference on Artificial Intelligence and Law (ICAIL 2005) June 6-11, 2005, Bologna - Italy [Laurie:04] R. Laurie: “IP Valuation: Magic or Myth?”; in Intellectual Property Issues in M&A Transactions, April 2004. [Lawley:05] Duard Lawley: Common Sense Tax Reform; Authorhouse, 2005. Promotes a 1%: Universal Transaction Tax (UTT) to replace all taxes. Kindle. [Lawprof:13] LawprofBlog: Dean Berman supports scam to gain from loans; Blogger jan 2013. For law stuidents [Larence:16] Dune Lawrence: “The Cost of Resistance”; Bloomberg BusinessWeek, 2 May 2016, pp 54- 59. Damage done by pretend do-gooder hackers and government's overreach in blaming the victim. [Lawson:06] Kent Lawson: Offshore Misdoings, Repentance and the US Internal Revelue Service; Private Wealth Management, 2006, pp.46-48. Better to confess than fight in Estate Planning, www.capmpden.com. [Lazonik:14] William Lazonik: Profits without Prosperity”; Harvard Business Review, Sep.2014, pp.46-55 Share Buybacks [Chap.5.3.1] [LB&I:10] IRS: Large Business and International Division at-a-Glance; IRS, 1 Oct 2010, 83 [Leone:95] R. P. Leone, ‘‘Generalizing What Is Known About Temporal Aggregation and Advertising Carryover”; Marketing Science, 1995. Short-term effects of advertising are less than 1 year. [LeonardS:05]‡ Gregory Leonard and Lauren Stiroh (eds.): Economic Approaches to Intellectual Property Policy, Litigation, and Management; National Economic Research Associates (NERA), White Plains, NY, 2005. (only few citations regarding software) [have] rollover. [Leonhardt:12]‡ David Leonhardt: “Coming Soon:`Taxmagedon’”; The New York Times, 15 April 2012. Tax bills to rise 1 Jan 2013 at all levels. Action will be needed, but will be late. [Leonnig :09]‡ Carol D. Leonnig: "Report Finds Major U.S. Companies Have Offshore Tax Havens", “Bailed-Out Firms Have Tax Havens, GAO Finds”;. Washington Post, 16 and 17 Jan. 2009. Shows some firms and amounts. [LeontiadisPM:12] Ilias Leontiadis, Christos Efstratiou, Marco Picone, and Cecilia Mascolo: “Don't kill my ads! Balancing privacy in an adsupported mobile application market”; Proceedings of Mobile Computing Systems & Applications Workshop, Feb. 2012. . from Sonny Chan CS207 [LenterSS:03] David Lenter, Joel Slemrod, and Douglas Shakelford: “Public Disclosure of Corporate Tax Return Information: Accounting, Economics, and Legal Perspectives”; National Tax Journal, March 2010, pp.1733-1759. Specifics on what can be disclosed. , ficis on schedules M-1 and m- 2.Beranasek say dec 2003? [Lentz:89] Karen Panetta Lentz: "Hardware is petrified software"; in Manoj Franklin: Computer Architecture and Organization: From Software to Hardware; Prentice-Hall, 2010. [Lepore:12] Jill Lepore: “Tax Time, Why we pay”; The New York Times, 26 Nov.2012, pp.24-29. Box. [LeRoyEa:12] Greg LeRoy, Phil Mattera, et al.: Clawback, a Blog of God Jobs First; http://clawback.org/about/, Good Jobs First, http://www.goodjobsfirst.org/. Specifics about State incentives for corporations, tax expenditutres and subsidies,. [Lesokhin;13] Lev Lesokhin: Comment on Proposed Rule – Regulation SCI SEC File No.57-01-13; CAST software, NY, 8 July 2013. The regulation addresses System Compliance and Integrity (SCI): systems should “have levels of capacity, integrity, resiliency, availability, and security, adequate to maintain the SCI entity’s operational capability and promote the maintenance of fair and or- derly markets.”. The comment states (1) that technology is becoming ... the single most expensive asset, (2) that there is inadequate attention given to integrity checks at the system level, (3) that test to deal with SCI issues should not only be part of production, but also of development. [Lessig:11] Lawrence Lessig: Republic, Lost; Twelve, Hachette, 2011. [LeuzTW:06] Christian Leuz, Alexander Triantis, and Tracy Wang: “Why Do Firms Go Dark? Causes and Economic Consequences of Voluntary SEC Deregistrations”; American Finance Association, Boston, 2006. Authors at UChicago. SoX effect or hiding trouble ? More hiding. < intangibles” [p.6, 121] . ” Ownership [p.7] , Control [p.9] . Aribitrary, Capricuos, or ureasonable [p12] , DHL case, withholding documents [p.12, 110] , Formulary apportionment, multistate, global [p.14, 387] . Commensuratewith income [p.15] . BALRM with profit split [p.16] . Defer foreign payments [p.18] . Relationship to customs [p.24, 225] 40 countries now have transfer pricing rules [p.26] . Arm’s length [p.32, 149, 378]., nearshore [p.63] . Disallowed repatriation [p.67] . Cost sharing [p.106,] . Services provided with IP [p.108] . Marketing intangibles, compustati [p.110, 118] .Buy-in, Buyout, in-process R&D, difficulties in allocation, market valuations, goodwill, [p.129, p.139] . Market cap, purchase price [p.135] . p/e [p.137] . IRS uses TP method , IP life [p.138] . Stock options [p.151] . Section 361, 367 transfers [p.153] . temporary regs [p.156] . Loans, safe harbor [p.201] . penalties [p.209] . Statute of limitation [p.223] . Planning for exam, outside advisors, use of appeals [p.277] . IDRs [p.297] . R&D sources [p.303] , unusual patterns [p.303] . Embdeed sW [p.306] . High case loads and scrace resources interfere with the work of economists [p.307] . Strategic disadvantage in TP preparing a detailed rebuttal, may help the IRS [p.309] . Settlement [p.314] . limited communication between exam and appeals [p.315] . Stutute of limitation p245, the IRS attempts to understand the function and the risks of the business, and attempts to understand the effect of the intangibles on the transactions [p.304] . Keep the IRS examiner on track 305. If the IRS team were to misconceive the benefit contributed by an intangible 306. High case loads and scarce resources interfere with the work,mof IRS econmists. P307.(Have) Double taxation, [LeveyW:08] Marc M. Levey and Steven C. Wrappe: Practical Guide to Transfer Pricing, Rules and Compliance, second edition; CCH, Wolters Kluwer, 2008. [LeveyW:10] Marc M. Levey and Steven C. Wrappe: Transfer Pricing Rules Compliance, and Controversy; CCH, Wolters Kluwer Pub., 2010, 912pp. Have 2007 edition. [LeveyWC:06] Marc M. Levey, Steven C. Wrappe, and Kerwin Chung: Transfer Pricing Rules and Compliance Handbook; CCH, Wolters Kluwer, 2006, 224pp “Given the potential for transfer pricing decisions to globally impact tax, financial and operational results, it is unfortunate that relatively few persons at multi-national corporations [MNEs] possess significant experience with transfer pricing issues”;[p.v.] , “absent transfer pricing rules MNEs could intentionally or unintentionally use transfer pricing to shift large amounts of income from one tax jurisdiction to another.. that benefit could be used to reduce the MNE’s overall tax rate” [p.2] , Shifting tax avoidance example as M&C [p.3] . `double taxation’ computation 85 [Levin:12] Carl Levin: Opening Statement; Permanent Subcommittee on Investigations, U.S. Congress, 20 Sep.2012. Microsoft Singapore, Ireland, Hewlett Packard, $1.7T offshore. Short-term loan trick by loaning from CFCs. to effectively repatriate. Section 206. 956 For the full hearing see. [LientzST:78] B. P. Lientz, E. B. Swanson, G. E. Tompkins: Communications of the ACM, Vol.21 No.6, June 1978, pp 466-471. [LII:92] Legal Information Institute: Constitution, US code, Federal regulations, Supreme Court Cases, etc.; Cornell Law School, since 1992 and continuously updated, < 87 [Lohman:02] Judith Lohman: Stanley Works Reincorporation Proposal; OLR Research report, Office of Legislative Affairs, State of Connecticut, 002-R-063, 19 July 2002. [Lohr:06] S. Lohr: Study plays down export of computer jobs; The New York Times, 23 Feb.2006. p.C11. Refers to ACM study [AsprayMV:06]. [Lojek:07]‡ Bo Lojek: History of Semiconductor Engineering; Springer Verlag, 2007. Relevant to VIC Ch 2.1. also see [LecuyerB:10]. Much on corporate interaction, mergers, acquisitions, and IP flow. [LoL:00] Kin Lo and Thomas Lys: “The Ohlson model: contribution to valuation theory, limitations, and empirical applications”; Journal of Accounting, Auditing and Finance, v. 15, Summer 2000, pp.337-367. [LonzoOscar:47] Loyd George and Rollin Sullivan: I’m my own Grandpa; song written by Dwight Latham and Moe Jaffe, 1947. [Looney:11]‡ Stephen R. Looney: Effects of Tax Rate Changes After Extension to Bush Tax Cuts ends; Dean Measd, Summer 2011. Focus on S-corps and LLCs. [Looney:13] Adam Looney: Supporting Broad-Based Economic Growth and Fiscal Responsibility Through Tax Reform; Brookinks Inst, Senate testimony, 22 MMay 2013.. [LostumboS:13} Nicola Lostumbo and Arpan Sengupta: “The Long-Term Effects of Advertising Expenditures:Examining the Evidence”; Transfer Pricing Report, Vol.22 no. 372, 4 Dec.. 2012. [Lowry:08]‡ Reported by Reuters: Executive Refuses to Answer Tax Haven Questions; The New York Times, Peter S. Lowry, 26 July 2008. Westfield CEO , based in Liechtenstein at. LGT bank, loss $100 annually . Is 1/147 US account holders. UBS has 190,000 US accounts. Covering $18B. Loss $100 annually. US has no subpoena powers, [LowTax:11] Lowtax: Global Tax & Business Portal; BSiMedia, Hastings, East Sussex, UK, 2011, MMMMMMMM [Maarsen:12] Hans Maarsen: Trustkantoren zien hun positie bedreigd: FD 17 Sep 2012. Per Andre Nageklmaker, director of ANT. Competion for Dutch CFIs from Cyprus. Annusal growth in Cyprus is 20,000; while Holland is steady at 20,000, inclusing HP and Coca-Cola, 100 majors. In 2010 NL business was 10,000 billion (10.200 mrd) euros. [MacDonald:15] James McDonald: When Globalization Fails; Farrar, Straus, and Giroux, 2015. [Mackay:1841] Charles Mackay: Extraordinary Popular Delusions and The Madness of the Crowds; 1841, reprint Wiley, 1996. Invalidation of Business patents [MackEa:05] Connie Mack III, chair, et al.: Simple, Fair, and Pro-Growth: Proposals to Fix America’s Tax System; Report of the President’s Advisory Panel on Federal Tax Reform; Nov.2005. Also Levin, Dorgan and: The deficit reduction act; 2005 .Two proposed plans, never enacted. One is The Simplified Plan, the other. an extension, The Growth and the Investment Taxplan. RRRR wrong. [VIC xls /taxes] [MackieMason:90] Jeffrey K. Mackie-Mason: “Do Taxes Affect Corporate Financing Decisions?”; The Journal of Finance, Blackwell Publishing, Vol.45 no.5., Dec.1990, pp.1471-1493. [Mackie:90]‡ James B. Mackie III: “Unfinished Business of the Tax Reform Act of 1986” ; National Tax Journal, Vol.55 no.2 June 2002. Considers the effect of ignoring intangibles minor [BurnhamO:05]‡ [Madison:11]‡ Lucy Madison: Bachmann `open’ to eliminating corporate taxes; CBS News, 4 Sep 20111. Zero corporate tax. [not cited] [Madoff:10] Ray Madoff: Immortality and the Law: The rising Power of the American Dead; Yale University Press, 1010. Estate taxes and trusts. [Madoff:12] Ray Madoff: Two Tricks to Raising Capital-Gains Taxes Fairly; The National Memo, 16 Feb 2012. the lower rates cost the government a significant amount of revenue. In 2008, if capital gains had been taxed at 35 percent instead of 15 percent, the federal treasury would have received an additional $100 billion. (Capital gains were unusually low that year; in 2007, the increase would have been closer to $200 billion.) In the next five years, the capital- gains preference will cost the government more than $450 billion, according to estimates from Congress’s Joint Committee on Taxation. ... the special capital-gains rate makes it difficult to simplify the tax code. Much of its complexity is due to the myriad rules that are meant to ensure that income is properly categorized as ordinary income or capital gains. Eliminate the rate differential, and the tax code could become far less complex. Fix for gains due to inflation (mainly real estate) up to death. Thus, if a taxpayer invested $100,000 in Apple Inc. in 2006 and died in 2012 when the stock was worth $1 million, that $900,000 profit is never subject to tax. The decedent is not taxed because he didn’t sell the stock, and the heirs are not taxed because they are treated as if they had purchased it for $1 million. Even at 15 percent capital-gains rates, this angel of death loophole costs the federal government about $60 billion each year. It also creates a powerful incentive for people to hold on to their appreciated property until death. This so-called lock- in effect impedes the efficient flow of capital. {ACM] [Magrassi:02] Paolo Magrassi: A Taxonomy of Intellectual Capital, Stamford: Gartner. 18 July 2002?. Gartner Research Note COM-17-1985. Cites Sveiby. He also published several books in Italian, including Digitalmente confusi (2011), La good-enough society (2010), Difendersi dalla complessità (2009), Il filo conduttore (2006), 2015 Weekend nel futuro (2005). [MahajanMW:00]† Vijay Mahajan, Eitan Muller, and Yoram Wind (eds.): New-Product Diffusion Models; International Series in Quantitative Marketing, Kluwer, 2000. [Mahoney:92] Joseph T. Mahoney: “The Choice of Organizational Form: Vertical Financial Ownership Versus Other Methods of Vertical Integration; Strategic Management Journal, Vol.13 No.8, Nov.1992, pp.559-584. [Makadok:98] Richard Makadok: "Can first-mover and early-mover advantages be sustained in an industry with low barriers to entry/imitation?"; Strategic Management Journal, Vol.19, no.7, 1998, pp. 683-696. See [LiebermanM:98], 6 infomediary forces [Tolman] 89 [Makhlouf:02] Gabriel Makhlouf: List of Uncooperative Tax Havens; Committee on Fiscal Affairs, OECD, Paris, France, April 19, 2002. List has been removed from the OECD web page. [Malakoff:16] David Malakoff: “What’s the face of U.S. innovation? Don’t think Bill Gates”; review in Science, Issue 6277, Vol.351, 4 Mar .2016, http://www.sciencemag.org/news/2016/03/average- innovator-not-steve-jobs Depends on patent filings, admitted to be a weak surrogate by the author, but as published here very misleading [Malm:13] Elisabeth Malm: Colorado Aamndement 66: A $1 Billion Tax Increase on Small Business and Individual Taxpayers; The Tax Foundation, 17 Oct.2013. The tax is to benefit education – how is that measured? [MalmK:13]‡ Elisabeth Malm and Ellen Kany: The Sources of State and local revenues; The Tax Foundation, 29 Jan.2013. [Malthus:26] Thomas Robert Malthus: An Essay on the Principle of Population: A View of its Past and Present Effects on Human Happiness; with an Inquiry into Our Prospects Respecting the Future Removal or Mitigation of the Evils which It Occasions (Sixth ed.); John Murray, 1826. [Marisec:06] Marisec: International Shipping, Carrier of World Trade; Maritime International Secretariat Services Ltd, London, 2006, 91 [Martin:14] Roger Martin: “The Rise (and Likely Fall) of the Talent Economy”; Harvard Business Review, Oct.2014, pp.41-438 Incentives are wrong in an econmy that is not limited by natural rsources. Labor was a routine component, now creative employees make up 33% [VIC Chap.3.3; Chap.5.3.1] [MartinsSP:96] Joaquim Oliveira Martins, Stefano Scarpetta ,and Dirk Pilat: "Mark-Up Ratios in Manufacturing Industries: Estimates for 14 OECD Countries“; OECD Economics Department Working Papers 162, , 1996, OECD Publishing. [Downloadable!] [Maraia:05]† Vincent Maraia: The Build Master: Microsoft's Software Configuration Management Best Practices; Addison-Wesley Microsoft Technology, 2005. Lag [Marciniak:94]† John J. Marcianak: Encyclopedia of Software Engineering; Wiley, 1994. [MarksM:10] Mitchell Lee Marks and Philip H. Mirvis: Joining Forces: Making One Plus One Equal Three in Mergers, Acquisitions, and Alliances, Revised and Updated; Jossey-Bass, Wiley, July 2010. [Markusen:90] James R. Markusen: First Mover Advantages, Blockaded Entry, And the Economics of Uneven Development; NBER Working Paper No.3284, Mar. 1990. [Marlow:78] Marlow, Richard: “Matrix Approach to Pricing”; Les Nouvelles, March 1978, p.11. Method based on Nabisco license estimation. [MartinsonEM:99] O.B. Martinson, T.D. Englebrecht, and C. Mitchell: "How multinational firms can profit from sophisticated transfer pricing strategies"; Journal of Corporate Accounting & Finance, Vol.10 no.2, 1999, pp.91-103. [Marx:1867] Karl Marx: Das Kapital; 1867. On Kindle [Mathur:12]‡ Aparna Mathur: How Taxing the Rich Harms the Middle Class; The American, the Online magazine of AEI, 15 Feb.2012. [MathurK:10] Aparna Mathur and Kevin Hassett, AEI., same as [HassettM:10] . [Matsunaga:83] Yoshio Matsunaga: Determining reasonable royalty rates”; Les Nouvelles, Journal of the Licensing Executives Society, Dec.1983, pp.216–219. (App.G) [MatternSS:03]‡ Frank Mattern, Stephan Schönwälder, and Wolfram Stein: "Fighting Complexity in IT"; McKinsey Quarterly, April 2003. [Matthews:06] Dylan: Matthews: In-House Critic Holds IRS Feet to the Fire; Wall Street Journal, 2006. $2T collected, 130M individual, 25M corporate taxapyers Tax gap $290B.0 . Confused with Robert Guy Matthews on data disclosure. [Matthews:10] Dylan Matthews: The corporate tax shuffle ; Washington Post, 6 April 2010. Comments on [Hellman:10] [MauboussinJ:97] Michael Mauboussin and Paul Johnson: “Competitive Advantage Period”: The Neglected Value Driver”; Financial Management, Vol.6 No.2, Sum.1997. Life of non-routine returns. [MauldinA:08] Tiffany Mauldin and Edward Abahoonie: More likely than not: A comparison of FIN 48 and the tax penalty standard; The Tax Executive, March 2008; Price Waterhouse Coopers (PWC), 2008. [Mauer:04] Hermann Maurer: Das ParaNetz; Der Zusammenbruch des Internets; Freya Pub., Austria, 2004; English translation: The ParaNet (breakdown of the Internet); booklocker.com, 2004. Science Fiction attacks Globalization. [Maxton:11] Graeme Maxton: The End of Progress; How Modern Economics Has Failed us; Wiley, 2011. Growth, responsibility, economic rape. [MaydewS:05] Edward L. Maydew and Douglas A. Shackelford: The Changing Role of Auditors in Corporate Tax Planning; University of North Carolina and NBER, WP2005-10, June 2005. Fee data, many good references [MayerK:04] David Mayer and Martin F. Kenny: “Economic action does not take place in a vacuum: Understanding Cisco’s acquisition and development strategy”; Journal of industry and Innovation, Dec.2004. [VIC 3.1.2] [Mayshar:91] Joram Mayshar: “Taxation with Costly Administration”; Scandinavian Journal of Economics, Vol.93 no.1, 1991, pp 75-88. [Mazarov:12] Michael Mazarov: `Digital Goods and Services Fairness Act’ Would Impair Funding for Education, Health care, and Other Stte and Local Services; Center for Budget and Policy Priorities. 29 May 2012. [Mazur:16] Orly Mazur: "Transfer Pricing Challenges in the Cloud"; Boston College Law Review, Vol. 52, No. 2, 2016 [Mazza:03] S Mazza: The Interplay Between Norms and Enforcement in Tax Compliance ...; . Mar 28, 2003 –ssrn.com/sol3/papers.cfm?abstract_id=391133. A number of scholars have suggested that vigorous enforcement of the tax laws may be counterproductive because it may suggest that ... (Chap.8) [MazzolariR:07] Francesca Mazzolari and Giuseppe Ragusa: Spillovers from High-Skill Consumption to Low-Skill Labor Markets; IZA Discussion Papers 3048, Institute for the Study of Labor (IZA), Bonn, Sep.2007. Wage inequality, increase in US service jobs. US focus, data. [VIC 9.6.2] [Mazzucato:13] Mariana Mazzucato : The Entrepreneurial State: Debunking Public vs. Private Sector Myths; Anthem Press, 2013. Government takes the greater risk with no prospect of great reward, while VCs and businesses take less risk and can reap enormous rewards. “We socialize the risks and privatize the rewards.” [McAfee:83] R. Preston McAfee: “American Economic Growth and the Voyage of Columbus”; American Economic Review, Vol.73, 1983. The misuse of hypotheticals or counterfactuals: “If the world were flat, Columbus would certainly not have observed masts rising over the horizon as ships came in. As a result, he would have not believed the earth to be round, and would never have sailed. Hence he could not have fallen off the edge”. [VIC 3.4.4] [McAfeeL:09] R .Preston McAfee and Tracy R. Lewis: Introduction to Economic Analysis; Flatworld knowledge, IEA, Feb.2009. [McBride:11]‡ William McBride: "Beyond the Headlines: What Do Corporations Pay in Income Tax?"; Tax Foundation Special Report No.194, Sep.2011. Foreign taxes explain most of the difference beween statutory and effective tax rates. In 2008 the 1,937 largest cos paid 68% of corp tax revenues. If taxes on foreign income are included the effective rate becomes 32.1 to 32%. Not used. [McBride:13N] William McBride: "New Zealand’s experience with Territorial Taxation"; Tax Foundation, 19 Jun. 2013. "; Tax Foundation, 19 Jun. 2013. see [GAO:13], flaws indicated, but no fix [McBride:13O] William McBride: " GAO Compares Apples to Oranges to Find Low Corporate Effective Tax Rate"; Tax Foundation, 3 Jul. 2013. [ACM] [McBride:13T] William McBride: " A brief History of Tax expenditures"; Tax Foundation, 22 Aug. 2013. Considers coirporate taxation a reverse Tax expenditures , because of doubl taxation. Other corporate Tax expenditures are modest. [McCabe:09] Cynthia Kopkowski McCabe: Education Funding, Follow theMoney; National Education Association, Feb.2009. [McCallEa:95] Gene H. McCall: Information Technology Volume; New World Vistas, US Air Force, 15 Dec 1995. [McCarthy:zz] John McCarthy: It is a folly to think that things can be improved by forbidding something” [McCaughy:13] Sorley McCaughy: “Ireland should help tackle scourge of tax dodging”; The Irish Times, 25 Nov.2013. Unwilling to start a public register of companies, [McCloskey:97] Deirdre N. McCloskey: “The Good Old Coase Theorem and the Good Old Chicago School, a comment on Zerbe and Medema”; in Medema (ed), Coasean Economics, Kluwer, 1997, pp.239-248. Transaction costs versus Pareto Optimality when participants are independent. [McConnellB:05] Campbell R. McConnell and Stanley L. Brue: Economics: Principles, Problems, and Policies; McGrawHill, 2005. Lag discussed on p.223, 494. [VIC Chap.3.2.2.1] 93 [McDonald:98] Chris McDonald: “The Evolution of Intel’s Copy Exactly! Technology Transfer Method”; Intel Technology Journal, Q4 1998. [McDonald:08] Michael McDonald: Income Shifting from Transfer Pricing: Further Evidence from Tax Return Data; US Department of the Treasury, Office of Tax Analysis, OTA Technical Working Paper 2, July 2008. [McGee:12] Robert W. McGee (ed.): The Ethics of Tax Evasion, Perspectives in Theory and Practice; Springer, 2012, 704pp. Little on corporate tax evasion. From Springer site: Why do people evade paying taxes? This is the central question addressed in this volume by Robert McGee and a multidisciplinary group of contributors from around the world. Applying insights from economics, public finance, political science, law, philosophy, theology and sociology, the authors consider the complex motivations for not paying taxes and the conditions under which this behavior might be rationalized. Applying theoretical approaches as well as empirical research, The Ethics of Tax Evasion considers three general arguments for tax evasion: (1) in cases where the government is corrupt or engaged in human rights abuses; (2) where citizens claim inability to pay, unfairness in the tax system, paying for things that do not benefit the taxpayer, excessively high tax rates, or where taxes are used to support an unpopular war; and (3) through philosophical, moral, or religious opposition. The authors further explore these issues by asking whether attitudes toward tax evasion differ by country or other demographic variables such as gender, age, ethnicity, income level, marital status, education or religion. The result is a multi- faceted analysis of tax evasion in cultural and institutional context, and, more generally, a study in ethical dilemmas and rational decision making. [McGahanP:03] Anita McGahan and Michael Porter: "The Emergence and Sustainability of Abnormal Profits"; Strategic Organization 1, no. 1, Sage Publications 2003, pp. 79-108. [McIntyre:08]‡ Robert S. McIntyre: Time to Stop Subsidizing Wall Street, Eliminate Loopholes for Capital Gains and Dividends; Citizens for Tax Justice, 1 Oct.2012. capital gain. Data based on Institue on Taxation and economic Policy. [McIntyre:11] Robert S. McIntyre: “Remembering the 1986 Tax Reform Act”; Tax Notes, 17 Oct.2011. Corporate taxes only. [McIntyreGWP:11] Robert S. McIntyre, Matthew Garner, Rebecca J. Wilkins, and Richard Phillips: Corporate Tax Dodgers, 2008-2011; Citizens for Tax Justice & Institute on Taxation and Economic Policy, Nov.2011. Survey of 280 companies on the Fortune 500. Earnings (in the US?) $1,400B. 25% < 10%, 111/280 < 17.5%, 25% 32.3%; average ~17.5% over 3 years. By 2011 income tax only 1.16% of GDP, Disclosure needed. [McKendrickDH:00] David McKendrick, Richard Doner, and Stephen Haggard: From Silicon Valley to Singapore, Location and Competitive Advantage in the Hard Disk Industry; 2000. on Kindle. [McKenney:12]‡ Michael E. McKenney: Final Audit Report ROTER; TIGTA, 7 Aug.2012 [Medema:97] Steven G. Medema (Associate Professor of Economics, University of Colorado at Denver) and Richard O. Zerbe, Jr (University of Washington, Graduate School of Public affairs): The Coase Theorem; in Medema (ed), Coasean Economics, Kluwer, 1997, pp.209-238. “the British Tradition”. [MeekerW:13] Mary Meeker and Liang Wu: Internet Trends D11 Conference; presenation, Kleiner Perkins Caulfield Byers, 29 May 2013, http://www.slideshare.net/kleinerperkins/kpcb-internet-trends- 2013?utm_source=slideshow&utm_medium=ssemail&utm_campaign=weekly_digest>. Excellent presentation of the many convoluting factors in growth of the Internet and its use. [MegnaM:91] P. Megna and D.C. Mueller: “Profit Rates and Intangible Capital”; Review of Economics and Statistics, 1991. Sales due to advertising. [VIC Ch.3.3].. [MehtaF:11] Aaron Mehta and John Aloysius Farrell: Wealthy Corporations with a Trillion Dollars Stashed Offshore Lobby for a ‘Holiday’ from U.S. Taxes; Nation of Change, 24 Oct 2011. [Meinzer:09]‡ Marcus Meinzer: Number of Companies; Mapping the Fault Lines, Tax Justice Network, 2009, 95 [Mihaly:93] S. Mihaly: “United States: How to Escape the Wrath of Thrasbulus’ Sword and Establish Reasonable Royalty Rates in Intercompany Licensing of Intangibles Under the `Best Method Rule’of the New Section 482 Regulations; Bulletin for International Fiscal Documentation, Vol.47 No.309, June 1993. [Miles:05] Miles: ‘‘Intermediary Dutch Holding Company Qualifies for Parent/Subsidiary Directive Relief”; Tax PlanningInternational Review, Vol.32, 2005, pp.16, 17. [VIC ..6.3] [MillerVC:10] Keith W. Miller, Jeffrey Voas, and Tom Costello: “Free and Open Source Software”; IT Professional, IEEE, Nov.2010, p.14-17. [VIC Ch..3.3.4] [MintzC:14] Jack Mintz and DuanJie Chen: The U.S. Corporate Effectice Tax rate: Myth and the Fact; Tax Foundation, Feb.2104, http://taxfoundation.org/article/us-corporate-effective-tax-rate-myth-and-fact . The article actually deal with the Marginal Effective Tax Rate (METR), imposed on the last dollar of income, which is closer to the statutory tax rate, and incudes local, sales, property taxes a.o. coparison with Canada and its VAT. Investment in people does not count. [MinittiPS:08] A. Minniti, C.P. Parello, and P.S. Segerstrom: "A Schumpeterian Growth Model with Heterogenous Firms“; Working Papers 645, Dipartimento Scienze Economiche, Universita' di Bologna; MPRA Paper 13674, University Library of Munich, Germany, 2008. R&D success is highly skewed, long tail of high profits. Parameters for subsidy decisions. [VIC 8.7]. [MintzC:11] Jack Mintz and DuanJie Chen: New Estimates of Effective Corporate Tax Rtes on Business Investment; Cato Institute, Tax and Budget Bulletin no.64, 1011..The Effective US Corporate Tax rate is 13% - less than the IRS estimate. Used by [FehrJJK:13]. [MillerVC:10] Keith W. Miller, Jeffrey Voas, and Tom Costello: “Free and Open Source Software”; IT Professional, IEEE, Nov.2010, p.14-17. [Milsted:12] Carl Milsted jr.: The Limits to the Laffer Curve, National Debt Solutions, 2012, [MoellerLK:09]‡ Volatility in leverages. Replaced by {Wilson:11]‡. [MontfortB:09 Nick Montfort and Ian Bogost: Racing the Beam: The Atari Video Computer System; MIT Press, 2009. Recommended by James M. Kaplan for business-technology. In today’s multicore world, developing for a platform with the processing and memory limitations of an Atari 2600 is all but unimaginable. Heck, it was hard to fathom back in the 1990s when I was developing for 286s with 640Kb of main memory. Montfort and Bogost’s book gets into the details of the 2600 platform and explains the coding techniques the era’s developers used to deliver exciting, compelling games. Their creativity and problem solving is an inspiration to technologists struggling to deliver compelling user experiences with today’s far more advanced platforms. [Moody:09] Glynn Moody, Rebel Code: Linux and the Open Source Revolution; Basic Books, 2009. Covers many project,, large and small. on Kindle [ACM]. [MoodyWH:05] J. Scott Moody, Wendy P. Warcholik & Scott A. Hodge: Special Report: The Rising Cost of Complying with the Federal Income Tax; Tax Foundation, Dec. 2005, http://www.taxfoundation.org/research/show/1281.html> [MorckY:92] R. Morck and B. Yeung: “Why Investors Value Multinationality”; Journal of Business, 1991. advertising has an asset value. [VIC Ch.3.3]. [Morgan:99] R. William Morgan: “Buy in payments and Market Valuations”; Transfer Pricing Report. BNA, 15 Sep.1999, pp.449-454. [Morgan:06] R. William Morgan: “What’s wrong with the IRS Investor Model?”; Transfer Pricing Report 14, BNA, 29 Mar.2006. Seems to agree with cost-based for acquisition [VIC Chap.8]. [Mookerjee:05]† Radha Mookerjee: "Maintaining Enterprise Software Applications"; Comm. ACM, Vol.48 no.11, Nov.2005. [Morgan:10] R. William Morgan: “Testimony Before the Committee on Ways and Means”; Joint Committee on Taxation (JCT), 22 July 2010. Author is with Horst Frisch, Inc. Income shifting by one company forces others to follow. Need for IP valuation. Veritas was a bad deal for US shareholders. [Morgan:12] Mary S. Morgan: The World in the Model, How Economists Work and Think; Cambridge University Press, 2012. Wordy history of economic modeling. No mention of intangibles. [MorgensonR:11] Gretchen Morgenson and Joshua Rosner: Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon; Times books, May 2011. Legislation and Regulation. Trust Preferred Securities Mortgage lenders. Focus on FannieMae [Morgenthau:09] Robert M. Morgenthau: Cayman Islands hold $1, 900B; Charlie Rose Interview, 8 April 2009. D.A. NY 1975 year2009 (Son of Henry M. Treasury Sec. 1934-1945?. [Moore:91] Geoffrey A. Moore: Crossing the Chasm; Harper Business, 1991. [Moore:95]† Geoffrey A. Moore: Inside the Tornado: Marketing Strategies from Silicon Valley's Cutting Edge; Harper Business, 1995. [Moore:12]‡ Jack Moore: 2012 budget ups IRS funding; Federal News Radio, 20 August 2012. [VIC xls /irs] [Moorehead:84] Donald V. Moorehead: Selected Current Developments in Subchapter C; William and mary Annual Tax Confrence, paper 547, 1984. Tainted assets are subject to a stauutory toll charge, i.e. erxport taxation.. [MoriartyMW:97] Sandra Moriarty, Nancy D. Mitchell, William D. Wells: Advertising; Prentice Hall, 2008. Poor reviews . Many stories. Little quantification. [Mortished:06] C. Mortished: "GSK settles largest tax dispute in history for $3.1B"; Times Online 12 09.2006. Business. 16 09.2006 97 [MoserEa:08] Raimund Moser, Pekka Abrahamsson, Witold Pedrycz, Alberto Sillitti, and Giancarlo Succi: “A Case Study on the Impact of Refactoring on Quality and Productivity in an Agile Team”; in Balancing Agility and Formalism in Software Engineering, Springer-Verlag, pp.252-266. [Moses:13] Molly Moses: “IRS Arguments in Altera and OECD 'Special Measures'’; Blog, Tax Mangament Transfer Pricing Report, BNA, , 15 Nov. 2013. Do cost-shating regulations violate arm’s-length standard. What happens then to profit sharing?. [MosesM:09] Molly Moses and Rita McWilliams,: Obama Budget’s Revenue Raisers Include Marked Change in Treatment of Intangibles; Bloomberg BNA, Daily Tax Rep., 93 DTR GG-1, 18 May 2009. [VIC Chap.3.3]. [MosesPF:00] Molly Moses, Irving Plotkin, and Daniel Frisch: “Economists Critque Taxpayers’ Step- Down Royalty”; Feature report, Tax Management Transfer Pricing Report, BNA, Vol.9 no.7, 26 July 2000, pp,195-196. Stepdown of royalty based on increasing ownership by the CFC, DHL encumbered trademark case. Marlet cap value too high [VIC app..C.3.2] [MoskRC:12] Matthew Mosk, Brian Ross, and Megan Chuchmach: Romney Parks Millions in Cayman Islands; ABC News Nightline, 18 Jan.2012. Has 138 funds. [VIC Chap10.9 G10] [MS:11] M.S.: “Foreign Aid, Why Ron Paul is Wrong”; The Economist, 16 Nov. 2100. [MuiC:13] Chunka Mui and Paul B. Carroll: The New Killer Apps; evils Advocate Group, 2013. Finance guys have rules that get it wrong: 1. Measurability; 2. Predictabilty; 3. Distortion of the Learning Process – ignoring intelectual capital; 4. Wasteed projects; 5. Time to deliver seen as less valuable tan low cost; 6. Power games in comparing projects; 7.. Unwarranted belief in numbers, ignoring assumptions; 8. Purpose of the firm [Drucker:73] view. Solution Kill all the finace guys? Create a safe space for innovation as [Martin:09]. [Mukunda:14] Gautam Mukunda: “The Price of Wall Street Power”; Harvard Business Review, June 2014, p.70-79. HBR2 Growth of outsourcing. Technological decisions driven by finance folk. [MulfordR:06] Charles W. Mulford and Jack Roberts: Capitalization of Software Development Costs: A Survey of Accounting Practices in the Software Industry; College of Management, Financial Analysis Lab., Georgia Tech., May, 2006. Only 61/207 of companies actually capitalized SW, at a mean rate of 20%. [Mulally:11] Alan Mulally (CEO of Ford): `70 % of R&D is associated with manufacturing’; conversation with Charlie Rose; Bloomberg Businessweek, 1 Aug.2011. [Mulligan:09] Mark Mulligan: “Spotify: why it’s been so successful and what it needs to do”; Music Industry Blog, 6 Feb. 2009, http://musicindustryblog.wordpress.com/2009/02/06/spotify-why- it's-been-so-successful-and-what-it-needs-to-do-next. . from Sonny Chan CS207 [Mulligan:12] Casey B. Mulligan: “Will the I.R.S. be busy next Year?”; The New York Times, 1 Feb.2012. Differences in audit rates under democratic versus Republican administrations. [Mundstock:87] George Mundstock: Taxation of Business Intangible Capital; 135 U. Pa. L. Rev. 1179 (1986-1987) [Murphy:12] Richard Murphy: The Courageous State, Rethinking Economics, Society, and the Role of Goverment; 2012. [Murphy:09] Richard Murphy: The language of Tax; Mapping the Fault Lines, Tax Justice Network, Nov.2009, [Musher:00] Steven A. Musher: Cost-sharing of ongoing research and development (“R&D”) on acquired technology; IRS Field advice, released 7 Jan 2000. NNNNNNN [Nadiri:15] Dr. M. Ishaq Nadiri Delivers 2015 Undergraduate Student Commencement Address; In.of Nebraska, v=JulmrIRk0hI on YouTube, 2015. [NadiriP:96] Ishaq M. Nadiri and Ingmar R. Prucha: “Estimation of the Depreciation Rate of Physical and R&D Capital in the U.S. Total Manufacturing Sector”; Economic Inquiry, Vol.XXXIV, Jan.1996, pp.43-56. Based on NBER Working Paper No.W4591. The model was estimated for the U.S. total manufacturing sector. “Our estimate for the depreciation rate of physical capital is 0.059 and that for R&D capital is 0.12” . Gives an `average” R&D life of 7 years and a total life 18 years to the 10% level based on a geometric (proportional) depreciation model. For linear depreciation life would be 8.3 years. An interesting observation from the paper is that 1. U.S. industry manufacturing industry now spends 5% annually on IP reinvestment, i.e., maintenance. 2. Spending 13.75% would avoid keep the value of the IP investment constant according to my spreadsheet based on [NadiriP:96]‡’s equations. That number is very close to the 15% maintenance cost I assume in my software models. [NadiriP:96] Ishaq M. Nadiri and Ingmar R. Prucha: "Sources of growth of output and convergence of productivity in major OECD countries"; International Journal of Production Economics, Vol. 52, No.1–2, 15 Oct.1997, pp.133-146. [NagerHEA:16] Adams Nager, David M. Hart, Stephen Ezell, and Robert D. Atkinson; The Demographics of Innovation in the United States; ITIF, 24 Feb.2016. [Nakamura:98] Toru Nakamura: “Profit Theorioes in Ptasnfer Pricing; Transfer Procing Report, Vol.6, 25 Feb 1998, p. 673. [Nakamura: 99] Leonard Nakamura: “Intangibles: What put the New in the New Economy”; Federal Reserve Bank of Philadelphia Business Review, July 1999. corporate investments in tangible assets have stagnated while corporate value creation has surged at the same time. The S&P 500 index, reflecting the market value of the major U.S. corporations, surged between 135.76 at the end of 1980 to 1342.62 on Nov.20, 2000 – a ten fold increase. In the same period investments into tangible assets in the U.S. (as a percentage of corporate GDP) decreased from 14.1% in the 1980s to 12.6% in the 1990s [Nakamura:01]‡ Leonard Nakamura: “ Investing in Intangibles, is a Trillion Dollars missing from GDP”; Federal Reserve Bank of Philadelphia Business Review, Q4, 2001, p27-37, Philadelphia Fed.org, [Nakamura:08 ] Leonard Nakamura: “ Intangible Assets and National Income Accounting”; Federal Reserve Bank of Philadelphia Woking paper 08-23, 16 Oct 2001, SSRN#1285048. [NakamuraS:11] Emi Nakamura and Jón Steinsson: Fiscal Stimulus in a Monetary Union: Evidence from U.S. Regions; NBER Working paper No.17391, Sep. 2011, SRN#1931161. Uses military contracts to firms in US staes as a model for Stimulus. 1.5 leverage. Also data on goods vs servoces [Nakaso:12] Dan Nakaso: U.S. tax shelter appears secure; San Jose Mercury News, 25 Dec. 2012, p.1,5. 99 [NCCUSL:85] National Conference of Commissioners on Uniform State Laws: Uniform Trade Secrets Act with 1985 Amendments; Basic text for IP protection laws in most states of the U.S. (including AZ, CA. Delaware, MA, MD, MN, OH , VA) Not Michigan, New Jersey, New York, PA, TX, WY as of 1997. OOOOOOO [Oates:72]‡ Wallace Oates: Fiscal Federalism; Harcourt Brace Jovanovich, 1972. Introduces tax competition. [OatesO:03] Mark A. Oates and James O’Brien: “For Settlement Purposes Only”; Transfer Pricing , Taxation of Global Transaction, CCH Wolters, Summer 2003, pp.31-34. Taxpayers should settle if favorable terms can be negotiated. Settlement analyses are less precise. Information from failed settlements or APAs is not admissible evidence at a trial [OatesO:09] Mark A. Oates and James O’Brien: “The Arms-length Standard: Why it Matters”; Transfer Pricing , International Tax Journal, CCH Wolters, July 2009. Double taxation. Xlinx case arms- length versus formulary apportionement. Parochial interest of nations. Regulatory History. [OatesO:11] Mark A. Oates and James O’Brien: “Lux et Veritas: IRS’s Actions Speak Loader Than its Words”; Transfer Pricing, International Tax Journal, CCH Wolters, Jan.2011. Veritas case. “Judge Foley rejected the IRS theories, ruled the IRS original and trial positions to be arbitrary, capricious and unreasonable, and accepted the taxpayer’s comparables-based theory of the case with minor modifications.”. “In order to win a Code Sec. 482 case, a taxpayer must show that the IRS’s position in the notice of deficiency was arbitrary, capricious or unreasonable.” “having lost badly, the IRS’s angst and anger over the decision is understandable.” “To be absolutely clear, the IRS in the AOD is saying that, given the facts found by Judge Foley, the IRS too would have ruled for the taxpayer in VERITAS.” “Dr. John Hatch was the principal expert advanced by the IRS at the trial in VERITAS. The original notice of deficiency sported an amount 50 percent higher ($2.5 billion buy-in value) than the IRS trial position based on Hatch’s analysis and opinion ($1.675 billion buy-in value). The prior notice of deficiency buy-in value was based on the analysis and opinion of Dr. Brian Becker. Prior to trial, the IRS abandoned Becker’s opinion, and, at trial, “without meaningful explanation, conceded $825 million of the [Becker] buy-in amount” and “failed to offer even a token defense in response to petitioner’s critique of Becker’s conclusions.” Not surprisingly, Judge Foley found the IRS notice position based on Becker to be arbitrary, capricious or unreasonable.” “In addition, respondent infl ated the determination by valuing short-lived intangibles as if they have a perpetual useful life and taking into account income relating to future products created pursuant to the [cost sharing agreement] .” “hinges primarily on the testimony of Hatch. Put bluntly, his testimony was unsupported, unreliable, and thoroughly unconvincing. Indeed, the credible elements of his testimony were the numerous concessions and capitulations.” “Hatch further agreed that his discount rate used to value VERITAS’s earnings into perpetuity, to a reasonable degree of economic certainty, could not possibly be correct.”” Based on the failure to appeal VERITAS, the authors believe that Appeals will continue to assign very high hazards to the IRS in litigation of the buy-in issues and thus to continue to settle these cases on terms highly favorable to taxpayers.” [Obama:08] Barack Obama 2008 ran on a tax plan that included “…reforming deferral to end the incentive for companies to ship jobs overseas”; deferring some deductions until repatriation and curbing the “check the box” regulations that enable multinationals to structure their foreign operations in a tax-favorable manner, Obama-type policy statements imply that multinationals somehow benefit unfairly from a tax system with perverse incentives.4. ( 101 [OBrienEa:98] James M. O’Brien, Karen A. Kunster, David A. Waimon, John McDonald, David D. Noren, and Ryan R. Brenneman: U.S. Corporations Doing Business Abroad; Baker McKenzie, Vol.28 of a series on Tax Advisors Planning, Research Institute of America, (RIA) Checkpoint, 1 Jan.1, 1998, 376 pp. Have. [OBrienO:99] James M. O’Brien and Mark A. Oates: Caveat Expert: Let the Expert Witness Beware; Taxes, CCH, Vol.77 no.11, July 1999. A report should be filed 60 days prior to a trial. Those lead to rebuttals. Up to a dozen witnesses in some cases. Experts are easily damaged. Use of junk science. Facts are better than opinions. [OBrienO:02] James M. O’Brien and Mark A. Oates: “Common Sense and the Art of Transfer Pricing”; Transfer Pricing, Taxation of Global Transaction, CCH Wolters, Winter 2002, pp.33-34, 63-64. The arms-length standard is understandable to all and matches market experience. Good motivation. [OBrienO:02M] James M. O’Brien and Mark A. Oates: “Musing on Transfer Pricing Developments”; Transfer Pricing, Taxation of Global Transaction, CCH Wolters, Summer 2002, pp.19-24, 70-71. DHL case. UPS insurance payments, Xlinx stockoptions. APa program. [OConnor:08] Kevin J. OConnor: Statement before the Senate Committee on Homeland Security and Governmental Affairs’ Permanent Subcommittee on Investigations Hearing on Tax Haven Financial Institutions: Their Formation and Administration of Offshore Entities and Accounts for Use by U.S. Clients , July 17, 2008. Offshore tax evasion. Shell entities. Often fraud has to proven before it can be investigated. Not all witnesses called for the hearing showed up. [OdagiriEa:10]ε Hiroyuki Odagiri, Akira Goto, Atsushi Sunami , and Richard R. Nelson. (eds.): Intellectual Property Rights, Development, and Catch Up: An International Comparative Study; Oxford University Press, 2010. Patents may promote innovation and catch up, and they may foster formal technology transfer. Yet they may also prove to be barriers for developing countries that intend to acquire technologies through imitation and reverse engineering. The current move to harmonize the IPR system internationally, such as the TRIPS agreement, may thus have unexpected consequences for developing countries. For most countries, economic development involves 'catching up' with leading countries. This needs more than physical assets and labour: it requires technological capabilities, educational attainment, entrepreneurship, and development of the necessary institutional infrastructure, including intellectual property rights, particularly patents. Have. [OECD:86]ε OECD Committee on Fiscal Affairs: Double Taxation Convention and the use of Conduit Companies; OECD, Paris, 1986. [OECD:98]ε OECD Committee on Fiscal Affairs: Harmful Tax Competition, An Emerging Global Issue; Organisation for Economic Co-operation and Development (OECD), Paris, April 1998. [OECD:87]‡ Committee on Fiscal Affairs, International Tax Avoidance and Evasion, Four Related Studies, Issues in International taxation Series no.1, OECD, Paris, 1987. [OECD:00]‡ OECD CFA: Clarification on the Application of the Permanent Establishment Definition in E- Commerce: Changes to the Commentary on the Model Tax Convention on Article 5; Committee on Financial Affairs Report, 22 Dec.2000, 7pp.= Just having a server in X does not in itself constitute having a permanent establishment in X. An ISP is not an agent. Have. [OECD:01]‡ OECD TAG: Attribution of Profit to a Permanent Establishment Involved in Electronic Commerce Transactions; Technical Advisory Group on Monitoring the Application of Existing Treaty Norms for the Taxation of Business Profits , Draft Report for Discussion, Feb.2001, 34pp.=Example. Focuses on e-tailing (p.5). In most condition under arms-length principles having a server in X leaves all substantial assets and risks with the head office (p.4). If services are provided by an Independent Service Provider (ISP) the conclusion would be similar (p.4. 19-. ). If there is personnel and X assumes sufficient development risk to be considered an economic owner, then commensurate profits are to be attributed to X (p.21,28). Comparables (p.23), Problems (p.27) [OECD:06] OECD, CTPA: Transactional Profit Methods – Responses to the OECD Invitation to Comment; Centre for Tax Policy and Administration, 6 Sep.2006. Responses by 15 consulting firms and Corporations. Follows 1995 OECD TP Guidelines [OECD:13I] OECD: Supporting Investment in Knowledge capital, Growth, and innovation; OECD Publishing, Oct.2013. 362pp. Have.. Uses the term `knowledge-based Capital” (KBC) where I use Intelectual captal. Talks about tax expenditures forvR&D. Date on KBC investment. [OECD:15]ε OECD: Aligning Transfer Pricing Outcome with Value Creation, actions 8-10, OECS/G20 Base Erosion and Profit Shifting Project; 2015. [OECD:14]ε OECD: Compilation of Comments Received in Response to Request for Input on Tax Challenges of the Digital Economy; OECD Publishing, Jan.2014. 109pp. Comments by AFME, BBA {Middelton] (locality), [Breslin:13], BMG (music), CIOT [Dillon:13] (not digital- inabgible, Ireland is Souvereign), Deloitte (need flexibility, Consider HFT, clouds, advertsising), DEG- KPMG [SpragueEa] (business models, platforms, FFTelecom (flow graphics), EBFGSM, IBA, IBFD, anonymous, WTS [OECD:17] OECD: Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations 2017, DOI:http://dx.doi.org/10.1787/tpg-2017-en, 612 pp. This consolidated version of the OECD Transfer Pricing Guidelines includes the revised guidance on safe harbours adopted in 2013, as well as the recent amendments made by the Reports on Actions 8-10 and 13 of the BEPS Actions Plan and conforming changes to Chapter IX [OECD:18] OECDf: Transfer Pricing Country Profiles; OECD Publishing; updated 7 sep 2018, https://www.oecd.org/ctp/transfer-pricing/transfer-pricing-country-profiles.htm, [OED:02]‡ Oxford English Dictionary, 2nd Edition, updated on CD: Oxford University Press, 2002. Intangible - incapable of being touched. [OGara:10] Patrick O’Gara: UK Tax residence of Offshore Companies, Laerstate BV v HMRC (2009); Baker & McKenzie, June 2010, 103 [OHanlon:12] Michael O’hanlon: The wounded Giant: America’s Armed Forces in an Age of Austerity; Brookings Intitution, Penguin Press, 2011; Kindle edition, 2012. Good data on China, DoD. [Olson:82] Mancur Olson: The Rise and Decline of Nations: Economic Growth, Stagflation, and Social Rigidities; Yale University Press, 1982. on Kindle. [Olson:02] inversion testimomy cited in PalanMC:10 [Olson:08] Nina E. Olson: National Taxpayer Advocate: Fiscal Year 2008 Objectives, Report to Congress, IRS, 30 June 2010, 351pp, [OshriKW:07] I. Oshri, J.Kotlarsky, and L. Willcocks: “Managing Dispersed Expertise in IT Offshore Outsourcing: Lessons for Tata Consultancy Services”; Management Information Systems Quarterly Executive (MISQE), Vol.6 no.2, June 2007. [OskolkovaN:12] Marina Oskolkova and Iuliia Naidenova: Impact of Intellectual Resources on the Value Growth of Companies; Higher School of Economics University, Perm, Russia, 4th European Conference on Intelectual Capital, Finland, Academic Publishing International Limited, 2012. [OsterB:02] Christopher Oster and Ken Brown: AIG, A Complex Industry, A Very Complex Company; The Wall Street Journal. 23 Jan.2002. 250 subsidiaries. [OSullivan:10] Kevin O’Sullivan (ed.): Strategic Intellectual Capital Management in Multinational Organizations: Sustainability and Successful Implications; Business Science Reference, IGI Global. 2010, 358pp. Kevin is a prof. at NYIT. 16 chapters by 24 different authors, Summary and preface by the editor. Relates Intellectual Capital to Knowldege Management. Have in Varese. [OTA:86] Office of Technology Assessment: Research Funding as an Investment, Can we Measure the Returns: Technical Memorandum SET-36, OTA, US Congress, April 1986. The answer is essentially No. [OTP:07] Office of Tax Policy: Approaches to Improve the Competiveness of the U.S. Business Tax system for the 21st Century; U.S, Department of the Treasury, 20 Dec.2007 . Importance of recognizing global flow. Coniders effect of depreciation. Business Activities Tax (BAT) (not BATSA ) Repeal the corporate tax and replace it with a VAT of 5 to 6%. Graph shows lead of smaller OECD countries. [Overby:07] Stephanie Overby: “ABC: An Introduction to Outsourcing”; CIA magazine, 9 March 2007, www.cio.com/article/40380/ Outsourcing_Definition_and_Solutions#1. [Overy:96] Richard Overy: Why the Allies Won; W. W. Norton, 1996. Recommended by James M. Kaplan for business-technology. People who work with me know that I can’t stand the word governance. It means something different to pretty much everyone, and I suspect that talking about decision- making processes provides an easy excuse for people who don’t want to engage on strategic, operational, and technical content so as to avoid making decisions. Overy demonstrates that the Allies didn’t just out-produce the Axis—they made better and more rational decisions using the resources they had. The British proved especially adept at running a war on a shoestring, but even the Soviet Union succeeded in getting a workable set of management processes in place. Any IT executive who has argued that his or her servers must be configured just so should read the passages comparing the how the Red Army deployed a few types of trucks and tanks at scale, even as Wehrmacht infighting resulted in a hard-to-maintain array of vehicles. [Owens:07] Jeffrey Owens Hearing on Offshore Tax Evasion: Stashing Cash Overseas; S. Finance Comm. on Offshore Tax Evasion, 110th Cong. 5, 2007, available at http://www.ceff.univ- cezanne.fr/documents/owen.doc>. Jeffrey Owens, Director, OECD Center for Tax Policy and Administration; Our research reveals that only four OECD countries (Mexico, Sweden, the United Kingdom and the United States) regularly publish estimates of the tax gap. . . One reason why countries are reluctant to calculate any possible tax gap is that there is no agreed methodology to measure the gap. OECD is currently undertaking work in this area. [Oxfam:00] Oxfam: Tax Havens: releasing the hidden billions for poverty eradication, Oxfam UK All--‐ Party Parliamentary Group on Africa, 2000, From Vaibhav CS207 [Oxford:13] Cliff Oxford: “Why the Tumblr Deal Is a Disaster for Entrepreneurs”; You’re the Boss Blog, NYTimes.com.htm, 6 Jun.2013. At $1.1B, just eyballs, hard to montize for Yahoo. [Oyer:14] Paul Oyer: Everything I Ever Needed to Know About Economics I Learned from Online dating; Harvard Press, 2014. Omitting negative details. [OzimT:10] Tola Ozim and Edward Tanebaum: H.R. 5328: International Tax Competitive Act of 2010; International Tax Advisory, Allston+Bird, 15 July 2010. Provisions of the Stop Tax Haven Abuse Act have been picked up in the Bill. 105 QQQQQQQQ [QFA:11] QFA: Global Finacial Centers; Qatar Finacial Authoritity, Sep.2011. Much data. PPPPPPPP [PackmanC:11] Andrew Packman and Augusto Lopez Claros: Paying Taxes 2012, the Global Picture; Price Waterhouse Coopers and the World Bank, 2011. www.pwc.com/payingtaxes. Also John Preston, Neville Howlett, Sylvia Solf, Tea Trumble. Focus on small and medium sized businesses in 183 economies. . Companies consider tax rates. Tax cost world wide 44.8% of its commercial profits. 277 hours to comply for sample company. Average total tax rate has fallen by 8.5%, > 1%/yesr. 10 economies do not levy a corporate tax, and in 3 no tax is paid because of reliefs and allowances. Income tax represents just 12% of all corporate taxes. US effective tax rate 27.6%, average global rate 16% (weighted?) [PakesS:79] Ariel Pakes and Mark Schankerman: Rate of Obsolescence of Knowledge, Research Gestation Lag, and the Private Rate of Return to Research Resources; NBER working paper no.346, May 1979;. with citation updates in [Grilliches:84, p.73-88]. Uses a patent renewal model. Based on data published in [Grilliches:80] Rate of return for private investment is 7.5% to 17% taking a lag of θ = 2 years and a IP decay rate δ of 25%. Lag ranges from 6/14 to 30 months. Life to 10% for products is 9 years, 11 years for process in durables and 8 years for process in non-durable goods. [Palan:02] Ronen Palan: “Tax Havens and the Commercialization of State Sovereignity”; International Organization; Vol.56 no.1, 2002, pp.151-176. [Palan:06] Ronen Palan: The Offshore World: Souvereign markets, Virtual Places, and Nomad Millionaires; Cornell University Press, 2006. Have - <+ch10> Offshore accounts and souvereignity. [PalanMC:10] Ronen Palan, Richard Murphy, and Christian Chavagneux: Tax Havens: How Globalization Really Works; Cornell Studies in Money, 2010, www.cornellpress.edu. Tax havens are continually evolving. Covers criminality, transfer pricing, but not IP. Corporations owning other corporations first in Holland, 1893, and then in New Jersey 1899. [Palda:65] K.S. Palda: ‘‘The Measurement of Cumulative Advertising Effects”; Journal of Business, 1965. Sales due to advertising. “Classic work on the cumulative effects on advertising” used as test Lydia Pinkham’s tonic data, a company which spent some years 85% of its sales on advrtisment, but was 107 Rambus charges 3.5% of DR DRAM technology use [Ch.3] . Cites Royalty Source statistics. [VIC xls/comparables] [ParrS:96] Russell L. Parr and Patrick H. Sullivan: Technology Licensing: Corporate Strategies for Maximizing Value; Wiley 1996. Chap.14 for IC, IP definitions cited in [SmithP:05] . [ParrS:05] Russell L. Parr and Gordon V. Smith: Intellectual Property; Valuation, Exploitation, and Infringement Damages, 4th Edition; Wiley; Adobe E-book, May 2005. [Paschall:00] C. Thomas Paschall: U.S. Capital Gains Taxes: Arbitrary Holding periods, Debatable Tax rates; USC Law Revue, Vol.73, 2000. /073404.pdf>. [PasherR:11] Edna Pasher and Tuvya Ronen: The Complete Guide to Knowledege Management: A Strategic Plan to Leverage Your Company’s Intellectual Capital; Wiley, 2011, 256pp. [Paul:10] Ron Paul: The Case for Gold, A Minority Report of the U.S. Gold Commission; Laissez Faire books, 2010, reprint of a 1983 report. [Paul:12] Ron Paul: Plan to Restore America; Ron Paul Presidential Campaign Committee, 2012. Actually has numbers and totals. [VIC xls /taxproposals] [PaulEa:03] Lindy L. Paul (chief of Staff) et al.: Report of Investigation of Enron Corporation and Related Entities Regarding Federal Tax and Compemsation Issues, and Policy Recomendations; Joint Committee on Taxation, Senate Committee on Finance, JCS-3-03, Feb.2003, 385pp.3,500 subsidiuaries. Taxes only in 2000, $62M on 101B in revenues. [Paulette:09] Paulette: President Obama cracks Down on Off Shore Tax havens; Let us Talk, 5 May 2009. [PaulyMB:12] Mark Pauly, Thomas McGuire, and Pedro Pita Barros (eds): Handbook of Health Economics, Vol.2; Elseviers, Jan. 2012. 1152pp. [Patrick:13] Josh Patrick: “Business for Sale Putting a Price on an I.T. Company”; You’re the Boss Blog, NYTimes.com.htm, 11 Jun.2013. Nice question, no answer. [Payne:93] James L. Payne: Costly returns; The Burdens of the U.S. Tax System; Institute for Contemporary Studies (ICS) press, Jan. 1993. Have. Refers [ADLittle:85]‡. Adds many more amounts [Wiederhold:12, IRSdata]‡. Estimates total cost of tax preparation at $159B or 65% of actual collections. Diatribe. [VIC xls /irs] [Pearlman:11] David Pearlman, on Charlie Rose Friday night 7 Jan 2011: In the global economy there is no assured connection between income growth of Multinational Corporations and job growth in any particular country. [Pearlstein:11] Steven Pearlstein: Charlie Rose Interview: Facebook, jobs; at 40 min, Audio Books, Audible.com, 10 Jan 2011. Have [Pearlstein:13] Steven Pearlstein: “Marty Sullivan figured out how the world’s biggest companies abvoided billions in taxes. Here’s how he wants to sop thwm”; Wonkblog, Washington Post, 26 Oct. 2013. .[ACM]. [PearS:11] Robert Pear and Jennifer Steinhauer: “Senate Approves Two Pieces of Jobs Bill”; The New York Times, 10 Nov 2011. Veterans jobs [Pearson:06] Thomas C. Person: “Preparing Multinational Companies for Tranfer Pricing Audits of Intangibles”; International Law & Management Revirew, BYU, Vol.2, pp.159-200, 2006. “While most multinational companies will usually not disregard the law, some believe their business strategies may place them dangerously close to questionable areas that exploit legal loopholes.84 The natural, but unfortunate, result is that governments require more detailed transfer pricing audits to ensure that multinational companies comply with a country’s transfer pricing legal requirements and the spirit of its law.” Risks among parties. Clauses for comparables. Identify tax-planning opportunities. Division of intangibles is likely an improper pricing tactic. 361 deals with spit intangibles only. APA program. Mutual concession settlements. Location savings. Significant taxpayer victories. Compamy will usually achieve partial success in litigation. [Peel:11]‡ Michael Peel: Tax Havens: In a sea of trouble; Financial Times, 12 Jan.2011. On BOTs. [VIC Chap.6.2.2, 6.9.1] [Peles:70] Y. Peles: “Amortization of Advertising Expenditures in the Financial Statements”; Journal of Accounting Research, 1970. Sales due to advertising. [VIC Ch.3.3].. [Pelham:97] Alfred M. Pelham: "Market orientation and performance: the moderating effects of product and customer differentiation"; Journal of Business & Industrial Marketing, Vol. 12 Iss: 5, pp.276 – 296. [PeppardD:07] J. Peppard and E. Daniel: “Managing the Realization of Business Benefits from IT Investments”; Management Information Systems Quarterly Executive (MISQE); Vol.6 no.1, Mar.2007. [Perez:03] Carlota Perez: Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages; Edward Elgar Pub, 2003. [Perry:11] Rick Perry: “My Tax and Spending Reform Plan: Cut, Balance, and Grow”; Wall Street Journal; 26 Oct 2011. Corp tax 20%. [VIC Chap.10.1.1.1] [Petzold:99] Charles Petzold: Code: The Hidden Language of Computer Hardware and Software; Microsoft Press, 1999; Recommended by James M. Kaplan for business-technology. Gets beneath the logical to the physical layers in the stack. Starting from first principles, and including a lot of history, Petzold explains how simple on-off switches can be combined into the mightiest of computational machines. Having read this book, you won’t be able to design circuits, but you’ll be able to understand how circuits get designed. [PfatteichervTF:07] Linda Pfatteicher, Bernhard von Thaden, and Paul Flignor: IRS again attempts to rein in cost-sharing arrangements; DLAPiper International Tax Newsletter, Oct.2007. [Pfleeger:01] Shari Lawrence Pfleeger: Software Engineering, Theory and Practice, 2nd ed; Prentice-Hall, 2001. [Philips:89] Louis Philips: The Economics of Imperfect Information; Cambridge Univ. Press, 1989. Predatory pricing and foregone profits pp.212-242 for a monopoly versus a prey.. [Philips:12] Mathew Philips: “Time to Head Home for Some Manufacturers”; Bloomberg Business Week, 6 Feb 2012. Total cost differential is reducing. Consider risk of IP loss – still not quantified. [Phillips:11] Michael R. Phillips: Reducing the Processing Time Beteween Balance Due Notices Could Increase Collections; IRS, TIGTA , 26 sep. 2011. Obvious, already stated by Rossotti. After 12 months, collectability falls to 23 percent. The notice stream could potentially collect an additional $363.4 million, based on the 11.6 million balance due modules that entered the notice stream during FY 2010. [Picciotto:17] Sol Picciotto (ed.): Taxing Multinational Enterprises as Unitary Firms; Institute of Development Studies, 2017 [Picker:14] Leslie Picker: “Silicon Valley Hears Echos Of 1999”; Bloomberg BusinessWeek, 10 Mar.2014. P/E, age of company at IPOs in 30, 6 years in 2000, 5.2, 12 years in 2013 [VIC Chap.5.3.5.1] [Pickle:92] J.J. Pickle: Tax Underpayments by U.S. Subsidiaries of Foreign Companies; Hearings before the Oversight Committee of the House Committee on Ways and Means, 102 Congr, 2nd session, 1992. “The IRS was simply outgunned and out maned” [VIC Chap.8.7.6] [PierceS:09] Justin R. Pierce and Peter K. Schott: A Concordance Between Ten-Digit U.S. Harmonized System Codes and SIC/NAICS Product Classes and Industries; Center for Economic Studies, U.S. Bureau of the Census, Nov.2009. [Pigoski:97]† Thomas M. Pigoski: Practical Software Maintenance - Best Practices for Managing Your Software Investment; IEEE Computer Society Press, 1997. [VIC Chap.5.3.3.1]. [Piketty:14] Thomas Piketty: Capital in the 21st Century; Belknap, Harvard University Press, 2014. [PimentelG: 94] David Pimentel and Mario Giampietro: Food, Land, Population and the U.S. Economy ;Nov.21, 1994. Carrying Capacity Network, in [Hanson:11] , dieoff, resource depletion [PiotrowskaV:08] Joanna Piotrowska and Werner Vanborren: "The corporate income tax rate-revenue paradox: Evidence in the EU“; Taxation Papers 12, Directorate General Taxation and Customs Union, European Commission, revised Oct 2008. [PisanoS:09] Gary P. Pisano and Willy C. Shih. "Restoring American Competitiveness"; Harvard Business Review 87, nos. 7-8 ,July – August 2009. 109 [Pitzke:13] Marc Pitzke: “Offshore-Leaks: Gigantisches Netzwerk der Steuerhinterzieher enthüllt”; Spiegel OnLine, 4 Apr.2013. [PMI:00] Project Management Institute: Project Management Body of Knowledge Guide; Project Management Institute, 2000. [Polanyi:44] Karl Polanyi: The Great Transformation; Boston: Beacon press, 1944. unfettered free trade is fundamentally incompatible with social order and stability. On Kindle [Politi:11]ε James Politi: “White House chief defends `Buffet rule’”; Financial Times, 19 Sep.2011. [Polk:06] Michael Polk: "It's all about Dislocationg Ideas"; Knowledge@Wharton, 15 Nov 2006, [Poterba:92-09]‡ James M. Potereba (ed): NBER Book Series Tax Policy and the Economy; NBER. Vols.6- 23, 1992-2009. [Pozen:11] Robert C. Pozen: Gingrich’s Flawed Social Security and Income Tax Proposals; Brookings Opinions, 27 Dec.2011. An analysis of some effects of tax changes. Gingrich flat tax plan plan promises $850billion over 10 years. 91 [VIC xls /taxproposals] [PRA:95] U.S. Congress: Paperwork Reduction Act of 1995; S.244, Title 44, Chapter 35, “Coordination of Federal Information Policy”, 4 Jan.2004. [PrattRS:96] Shannon P. Pratt, Robert F. Reilly, and Robert P. Schweihs: Valuing a Business, The Analysis and Appraisal of Closely Held Companies, 3d ed.; Irwin Professional Publications, 1996. Reilly's own treatise on business valuation states that "[c] apitalization of revenues is applied most frequently to service businesses, such as advertising agencies, insurance agencies, mortuaries, professional practices, and some types of publishing operations. It generally tends not to work very well for manufacturing companies”;p.227 . Many traditional methods for simple cases. Cost- based methods. Life computations based on experience, as customer retention. [Pressman:01]† Roger Pressman: Software Engineering, A Practioner's Approach; 5th edition; McGrawHill, 2001. [Protalinski12] Emil Protalinski: Last Facebook Pre-IPO Valuation is Biggest yet: $102.8 billion; ZDNet, 30 Mar.2012. [PrzysuskiL:05] Martin Przysuski and Srini Lalapet: “A Comprehensive Look at the Berry Ratio in Transfer Pricing”; Tax Notes International, Tax Analysts, Vol.40 no.8, 21 Nov.2005, p.759. Comments on US and OECD expectations. History of the Berry ratio and the 1979 Dupont case, [Primack:13] Dan Primack: Twitter’s other taxlophole; CnnMoney, 7 Nov.2013. This is about 7M stick options yealding a 154M crdit [ACM]. [PSoI:03] Permanent Subcommittee on Investigations: U.S. Tax Shelter Industry: The Role of Accountants, Lawyers, and Financial Professionals, Four KPMG Case Studies, FLIP, OPIS, BLIPS, and SC2; Report on Hearings held 18&20 Nov.2003, U.S. Senate Homeland Security and Governmental Affairs Committee, on the Role of Professional Firms in the U.S. Tax Shelter Industry”US Senate S402-21, 130 pp. Focus on US individual returns. Fees min$ 0.5M to 2M for an S-corporation! Some fees contingent on tax savings. Mentions “more- likely-than-not”. “the penalties would not be greater than $14,000 per $100,000 .. fees”. Uses Tax shelter states and the Cayman islands. [PugsleyH:11] Pugsley, Benjamin and Erik Hurst: “Wealth, Tastes, and Entrepreneurship”; University of Chicago, Mimeo, 2011. Non pecuniary benefits in small businesses RRRRRRR [Radaelli:03]‡ Cladio M. Radaelli: The Code of Conduct Against Harmful Tax Competion: Open Method of Coordination In Disguise; Public Administration, Vol.81, no.3, 2003. Draft 1999. OMC. [RaedlerJ:84] Albert J. Raedler and Friedhelm Jacob: German Administrative Principles Concerning Transfer Pricing; English translation; 1984. 111 [Raensch:10] Ullrich Raensch: Handling Tax Controversies in Europe; Baker & McKenzie, Tax Europe, Frankfurt 2010. [RajaHH:10] Uzma Raja, Joanne Elaine Hale, David Peter Hale: “Temporal Patterns of Software Evolution Defects: A Comparative Analysis of Open Source and Closed Source Projects”; Journal of Software Engineering and Applications, 2011, 4, 497-511. Shows defect and repair rates in 5 open source and 5 closed SW projects. [Rajan:11] Raghuram G. Rajan: Fault Lines, How Hidden Fractures Still Threaten the World Economy; Princeton University Press, Aug.2011 . On Kindle & Paper. Good description of interaction of Government, private initiatives, and politics. [RRRR] . Organizational capital. Have on Kindle. [Rahn:09] Richard W. Rahn: "In Defense of Tax Havens"; Wall Street Journal, 17 March 2009. [RamelliEa:12] Rudolph Ramelli et al.: Comments and Recommendations for Guidance to the Transfer Pricing of Related Party Guarantees; American Bar Association, letter to Commissioner Shulman, 13 Sep. 2012, 93 pp. For related party guarantees “market-based pricing should always be the starting point”. Better than yield. ~income. Should apply to loans guaranteed by parent. 93 pp.[VIC xls /irs] [Ramos:07] Joanne Ramos: “A survey of offshore finance”; The Economist, 22 Feb 2007. Offshore financial centres, Macau Bermuda, Liechtenstein, Guernsey , are booming as thanks to their easy-going tax regimes. But the best of them are more than tax havens: they are good for the global financial system. Now also Dubai, Kuweit, SaudiArabia, Shanghai (China), Khartoum (Sudan). [Randolph:06] Randolph: International Burdens of the Corporate Income Tax; CBO Working Paper 2006- 09, Aug.2006. Employees bear the burden of corporate tax in proportion to their shares of revenues. [RanganathanB:07] , C. Ranganathan and S. Balaji: “Critical Capabilities for Offshore Outsourcing of Information Systems” Management Information Systems Quarterly Executive (MISQE), Vol.6 no.3, Sep.2007. [Rao:04] M.T. Rao: “Key Issues in Global Outsourcing: Country and Individual Factors”; Information Systems Management, Summer 2004, pp 16-21. [Rashkin:07] Michael Rashkin: Practical Guide to Research and Development Tax Incentives: Federal, State, and Foreign, 2nd Edition; CH Wolters Kluwer Publications, 2007. "The Joint Committee on Taxation estimates that in 2004 U.S. corporations will use the research credit and R&D expensing to reduce their tax liabilities by 9.2 billion dollars. The perception used to be that the high-tech sector was the only heir to this tax fortune. But the Treasury Department liberalized the rules, as reflected in the 2001 proposed regulations, and now even traditional manufacturing industries are capitalizing on the research credit and R&D expensing. While maximizing these tax incentives saves companies huge sums of money, the credit in particular can represent a very confusing area of law. Both business people and their tax advisors may be unclear about the rules and how to use them to secure the greatest tax savings. Michael Rashkin, J.D., LL.M., (General Tax Counsel for Marvell Semiconductor, Inc.) provides something that has been missing in professional tax literature--authoritative, comprehensive coverage of this complex and evolving topic. It explains the elements of qualified research, exclusions, computational rules, and basic research payment credits. Historically, the IRS has been vigilant in denying R&D credits. This resource explains how to satisfy the IRS's requirements, document the credit, and defend against IRS challenges. It also examines research incentives offered by individual states and describes the R&D incentives available in the major economies of the world, offering helpful charts that show the key differences among the various countries”; [VIC xls /taxexpenditures] [Rasmus:06] Jack Rasmus: the War at Home: the Corporate Offensive from Ronald Reagan to George W. Bush; Kyklos Productions, San Ramon, 2006. Have. Corporate America versus the Unions. [Rattner:14] Steven Rattner: End Corporate Taxation; New York Times, 3 May 2014. Pharma examples. [RauG:12] Aswath Rau and Pallabi Ghosal: “Entering the Tiger’s Den: Foreign Investment in India through Mauritius or Singapore”; Singapore Law Gazette, Feb.2012. Roundtripping cases. [Rauch:92] Jonathan Rauch: ; I found a 1992 < 113 [Reich:12] Robert Reich: Beyond Outrage: What has gone wrong with our economy and our democracy, and how to fix them; Knopf, Random House digital, May 2012, 87 pp.Have on Kindle.. Connecting a fw dots. $50B caritable deductions. [Reichheld:xx] Reichheld: The Loyalty Effect; [ReillyS:98] Robert F. Reilly, and Robert P. Schweihs; Valuing Intangible Assets; Irwin Library of Investment and Finance; McGraw-Hill, 1998. Have copy of Chapter 1, p.3:29: Identification Defines IP p.20-22; and Chapter 19, p 363-380: Data Processing Intangible Assets, Special Consideration on Software Valuation, Cocomo 1981”;The Discounted cash Flow method is typically used in the valuation of data-processing intangibles when there is an identifiable income stream associated with the intangible asset. Therefore, this method is usually used in the valuation of product software or databases that generate income through their sale or license" "... the economic life of software is an entirely different issue [from the life for income tax depreciation or amortization] . The analyst should consider a number of factors, including: the age of the software and maintenance or enhancement practices". The market for the software. " [p.370] . "... physical deterioration is not generally applicable to data-processing intangibles ... . Functional obsolescence is often immaterial when the software is continually maintained and enhanced"[p.372] . “human capital intangibles” consist of “trained and assembled workforce” and various contracts such as non-compete agreements, all having possible separate and quantifiable value. They consider goodwill to be a separate intangible. Intellectual property, for the authors, is a separate category still, characterized by creativity/innovation and by separate legal recognition/protection.[?] Nature and Role in Evolving Marketing Competition; Int’l J. Res. Marketing, Vol 27, 2010. [ReillyS:13] Robert F. Reilly and Robert P. Schweihs: Guide to Intangible Asset Valuation; American Institute of Certified Public Accountants, Inc., 2013. [Reimann:10] Martin Reimann et al.: Toward an Understanding of Industry Commoditization: Its Nature and Role in Evolving Marketing Competition; Int’l J. Res. Marketing, Vol 27, 2010. [ReinhartR:09] Carmen M. Reinhart and Kenneth S. Rogoff: This Time is Different, Eight Centuries of Financial Folly; Princeton University Press, 2009. On Kindle. [ReinhartR:10] Carmen M. Reinhart and Kenneth S. Rogoff: “Growth in a Time of Debt”; Harvard University Economics Dept. report 51, for the American Economic Review Papers and Proceedings, 7 Jan.2011. Cited in the Ryan GOP2011 budget. [Reshore:14] Reshoring Initiative: Total Cost of Ownership Estimator™; 2014 software. Enables aggregation of all cost and risk factors into one cost for simpler objective decision making. [VIC Chap.6.3] [ResslerM:11] Peter Ressler and Monika Mitchell: Conversations with Wall Street: The Inside Story of the Financial Armageddon & How to prevent the Next One; Fast Pencil Premiere, Nov.2011. On Kindle. [Reuters:10] Flextronics sees Pressure on operating margins, 8 Sep. 2110 . 3.5%. Foxconn, Hon Hai Shares fall on weak earnings 31 Aug 2010 . [Reuters:12] “IRS gets its own swat team”; Reuters , 22 Mar.2012. Report on Maruca appointment by Dolan, KPMG, ex IRS . Hiring people from accounting firms for transfer pricing, 40 on-board, 60 to come. Questiions if resources are sufficient. [Reynolds:12] Neil Reynolds: Switzerland against the words; The Globe and Mail, Toronto, 12 March 2012. Low corporate tax. Schwyz 11.8%. ‘This competition has a logical end – the abolition of corporate taxes altogether.` This competition has a logical end – the abolition of corporate taxes altogether. Swiss author Philipp Löpfe, for one, champions such a reform. With abolition, he says, the cantons will stop competing with one another. Instead, the competition will become Switzerland versus the world. Swiss author Philipp Löpfe, for one, champions such a reform. With abolition, he says, the cantons will stop competing with one another. Instead, the competition will become Switzerland versus the world.’ [RhoadesL:12] Rufus von Thulen Rhoades and Marshall J. Langer: International Taxation and Tax Treaties; Mathew Bender Co, Lexis Nexis, 2012. [RIA:91] RIA: Research Institute Master Federal Tax Manual with Federal Tax Coordinator 2d edition; Research Institute of America, inc., 1991. [RIA:03] RIA federal tax handbook, 2004; Research Institute of America, inc., 2003. [Ricardo:1817] David Ricardo: The Principles of Political Economy and Taxation; 1817; Kindle edition, 2010. On Kindle [Ricardo:08] David Ricardo: Free trade, from USA Today blog of 21 March 2008 by econ_girl: See Ricardo.docx [Ricardo:13] Lorenzo Ricardo: Chinese Tax Law and International Treaties, Springer, 2013, 282pp.. Covers 1 Jan.2008 laws on Corporate (Enterprise) taxation. Rate is moving to 25%. Also 3% VAT, There is a 5% Business tax on sales of intangibles and Real estate. Has 13 pages on transfer pricing. [RICS:04] The Royal Institution of Chartered Surveyors: The Value of Intellectual Property, Intangible Assets And Goodwill, 26 Oct.2004, [Romano:02] Carlo Romano: Advance Tax Rulings and Principles of Law: Towards a European Tax Rulings System; International Bureau of Fiscal Documentation (IBFD), Amsterdam, 2002. 115 [Romano:11] Andrew Romano: Maneuver allows Career Lawyer to Wield Power in the Tax Division; Main Justice, 18 March 2011. Appointment of Mary L. Smith was rejected by the House. [Rodrick:98] Dani Rodrik, Why do more open economies have bigger governments? Journal of Political Economy, Oct.1998, 106 (5), 997-1032. Open economies , with more trade, (e.g., Austria, Netherlands, Norway) have larger government sectors than closed economies, which he attributes to their greater demand for public expenditures that cushion the effects of globalization. Based on correlation. [RoederKE:02] A. Roeder, H. K.Kroppen, &A. Eigelshoven: (2002). Chapter 24: Germany. In Robert Feinschreiber (Ed.), Transfer pricing handbook (3rd ed.). New York: John Wiley & Sons. [RoessnerAFP] David Roessner, Catherine P. Ailes, Irwin Feller, and Linda Parker: How Industry Benefits rom NSF’s Engineering Research Centers”; p.40-44. [Rosato:07]‡ Donna Rosato: File a squeaky clean 1040 tax form; Moey magazine, 23 Feb.2007. Random tax audits. $345B uncollected. [Rose:13] Charlie Rose: Interview with Bart Chilton, CFTC Commissioner; BBW, 6 May 2013.p.48. Commisioner thinks a transaction fee would be hepful. [Rosen:10] William Rosen: The Most Powerful Idea in the World; Random House, 2010, ISBN 978-1-4000- 6705-3. [Rosenbaum:95] David E. Rosenbaum: Chairman Proposes Redefining Tax Code; New York Times, 7 Jun.1995. Bill Archer `Our Challenge is to do no less than pull the current income tax code out by its roots’] [Rosenberg:98] Barr Rosenberg: United States Equity Version 3 (E3); BARRA, Berkeley, CA, 1998. Johnston NYT article 2002. working poor. Shelter risk & settements p277, funding of the IRS, part odf discretionary funding, p.278. IRS hands out benefiots as credits that `50% of the SSA, on 25% of the budger. p279. Staff size not changed since 2001 [VIC xls /pointers] [Rostenkowski:84] Dan Rostenkowski et al.: The Deficit Reduction Act of 1984 (DEFRA); US House of Representatives H.R.4710, introduced 20 Oct 1983, became Public Law 98-369 18 July 1984.. includes USC Title 26 §367: Foreign Corporationd, Dec. 1984., used USC 936 (h)(3)(B) for the defintion of intangle property. [RostenkowskiEa:86] Dan Rostenkowski et al.: Tax Reform Act of 1986, Conference report, HR 3838; 22 Nov.1985. Sponsor’s summary. Introduces many changes to corporate taxation, including Subpart F in Title IV. Addresses personal holding companies. About 400 distinct provisons. [RothEa:98] William V. Roth, jr. (chairman): IRS Restucturing and Reform Act of 1998, Conference Report; US Congress, to accompany Bill H.R. 2676, Apr.1998. [RothN:99] William V. Roth, jr. and, William H. Nixon: The Power to Destroy; Atlantic Monthly Press., (1999). ISBN 0-87113-748-8. Leakage of tax information. [Rottman:06]† Joseph P. Rottman: "Successfully Outsourcing Embedded Software Development"; IEEE Computer; Vol.39 no.1, Jan.2006, pp.55-61. [Roux:97] David Roux: Statement about software growth; 1997, Silver Lake Partners. [RoyaltyStat:10] database of royalty agreements with rates or fees and conditions. $4,500/year for 100 downloads. 117 [Ruding:00] Onno Ruding, Chair: ; EC Survey of 965 EU companies. Median revenue of all was £38.5, and £281,5 for multinationals. Effective EU tax rate for foreign-source income is 11.2%. see [Devereux:92] . [RugaberS:04] S. Rugaber and K. Stirewalt: “Model-driven reverse engineering”; Software IEEE, Vol.21 No. 4, July-Aug. 2004, pp.45–53. [Ryan:10] Dian Ryan 2010: The following story appeared in today's BNA Daily Tax Report. Reprinted with appreciation. TEI Audits and Appeals Seminar - On cost-sharing cases, Ryan said Appeals has completed its work on the IRS's project establishing settlement guidelines. She noted that Appeals referred the guidelines up the chain of command for review April 15. Ryan would not predict when the settlement guidelines would be finalized. Appeals currently has 20 cost-sharing cases on its docket. Ryan said the guidelines would reflect the U.S. Tax Court's Dec. 10, 2009, ruling in VERITAS Software Corp. v. Commissioner, 133 T.C. No.14. In the case, Judge Maurice Foley held the IRS improperly valued the buy-in payment in the cost-sharing agreement between VERITAS, a U.S.-parented software company, and its Irish subsidiary (236 DTR K-1, 12/11/09). [Ryan:11] Paul Ryan: The Path to Prosperity, Restoring America’s promise; US Congress, House Budget Committee, 5 April 2011 proposal. A GOP budget. “Article I of the U.S. Constitution grants Congress the power to appropriate funds from the Treasury, pay the obligations of and raise revenue for the federal government, and publish statements and accounts of all financial transactions. By law, Congress is also obligated to write a budget representing its plan to carry out these transactions in the forthcoming fiscal years. While the President is required to propose his administration’s budget requests for Congress’s consideration, Congress alone is responsible for writing the laws that raise revenues, appropriate funds, and prioritize taxpayer dollars within an overall federal budget. [Rykers:09] Darren Rykers: A Critical Analysis of how Double Tax Agreements can facilitate Fiscal Avoidance and Evasion; The Taxpayer and the Lotus, 17 Nov.2009. SSSSSSSS [SAB114:11] SEC: Staff Accounting Bulletin 114; U.S. Securities and Exchange Commission, Division of Corporate Finance, 28 March 2011 . staff: 20%, multiplied for lower levels. . http://www.sec.gov/interps/account/sab114.pdf. [Sachs:05] Jeffrey Sachs: The End of Poverty: Economic Possibilities for Our Time; Penguin Press, 2005. Needs in India, ability to change things. Nothing on taxhavens etc. have. [Sadowski1:11] Robert Sadowski: “A Cash Buildup and Business Investment”; Federal Reserve Bank of Cleveland: Economic Trends, Jan.10, 2011, http://www.clevelandfed.org/research/trends/2011/0111/01regact.cfm . the primary reasons firms are not investing more are lack of demand and uncertainty about the health of the economy [Sah:83] Raaj Kumar Sah: How much redistribution is possible through commodity taxation?; Journal of Public Economics, Feb.1983, 20 (1), 89-101. [Sahadi:11] Jeanne Sahadi: “Corporate tax reform: Talk grows louder”; CNNMoney, 14 Jan. 2011. [VIC xls /taxexpenditures] [Sahadi:12] Jeanne Sahadi: “Business Tax breaks booted from Payroll Deal”; CNNMoney, 17 Feb. 2012. [Saini:11] Angela Saini: A formula for Justice; The Manchester Guardian, 2 Oct 2011. Bayes rule. Comment: A`well funded prosecution or defence will always be able to buy expert opinion. Justice should be better than this. Indeed if we are to have any confidence in our system of justice it HAS to be better than this. The Court should provide an unbiased expert. [SaintMatthew: 0042] Honoring the Patron Saint of Accountants on All Saints' Day; 119 [SantosRodriguesPC:13] Santos-Rodrigues Helena, Guiomar Pereira- Rodrigues, and Desire Cranfield: Human Capital and Financial Results: Case Study; IPVC, Portugal and University of Southampton, UK, 5th European Conference on Intelectual Capital, Bilbao, April 2013. [Sarathy:01] Ravi Sarathy: Knowledge Valuation – The Issues, with an Application to the Software industry; in [Contractor:01], pp.232-244. "A shared context between the various employees of the firm." "Some knowledge will be (group-specific) tacit and embedded in the wotking groups attitudes". i. by cost – unreliable allocation. ii. Market-based or revenue based is superior. CISCO acquisition example. [Sarfo:19] Nana Ama Sarfo: The Future of Transfer Pricing; Tax News, 6 May 2019. Points made at 16 April 2019 NYU-KPMG Symposium, Problem of resultion of US position with OECD digitalization. [Sargent:87] Thomas J. Sargent: Macroeconmic Theory; Harvard Univ. Press, 1987. have [Sargent:05] John Sargent; Office of Technology Assessment, 2005. US IT employment 3.170M.Via ACM globalization report. [Scheer:10] Robert Scheer: The Great American Stickup: How Reagan Republicans and Clinton Democrats Enriched Wall Street While Mugging Main Street ; Nation Books, 2010. [Scheier:11] Bruce Scheier: Do Corporations have a Right to Privacy?; Scheier on Security, 20 Jan.2011. Error! Hyperlink reference not valid. [SchilitP:10] Howard Mark Schilit and Jeremy Perler: How to Detect Accounting Gimmicks & Fraud in Financial Reports, 3rd ed.; McGraw-Hill, 2010. Financial Shenanigans [Schlosser:03] Eric Schlosser: Reefer Madness: Sex, Drugs, and Cheap Labor in the American Black Market; Houghton Mifflin Harcourt, 2003. The size of the underground economy, drug illegal labor, and porn is over $1T. [Schlunk:00] Herwig J. Schlunk: The Zen of Corporate Capital Structure Neutrality; Michigan Law Review, Vol.99 no.2, Nov.2000, pp.410-451. [Schlunk:04] Herwig J. Schlunk: Double Taxation: The Unappreciated Ideal; Tax Notes, Vol.102 No.7, 16 Feb.2004. [Schlunk:05] Herwig J. Schlunk: A Minimalist Approach to Corporate Income Taxation; NNew York University Law and Economics Working Papers. Paper 6, , 3 Feb.2005; Vanderbilt Univ. Law School, Law and Economics, working paper 05-06, 3 Feb.2005. tax internally created intangible income (organic). Double taxation is appropriate. [Schlunk:06] Herwig J. Schlunk: A Minimalist Approach to Corporate Income Taxation; SMU Law Review, Vol.59 no.2, Spring2006, , pp.785-834; New York University Law and Economics Working Papers no.6, 3 Feb.2005; Vanderbilt Univ. Law School, Law and Economics, working paper 05-06, 3 Feb.2005. tax internally created intangible income (organic). Double taxation is appropriate. [Schlunk:06R] Herwig J. Schlunk: Rationalizing Reorganizations and Other Corporate Acquisitions; Vanderbilt Univ. Law School, law and Economics, working paper 06-24, 1 Dec.2006. [Schmidt:11] Anatoly B. Schmidt: Financial Markets and Trading: An Introduction to Market Microstructure and Trading Strategies; Wiley, 2011. On Kindle [Schmidt:12] Robert Schmidt: Meet the Man Who Is Defending the 1%; Bloomberg Businessweek, 20 Feb.2012, p.32. Carried interest issue. [Schmookler:62] Jacob Schmookler: "Economic Sources of Inventive Activity“; The Journal of Economic History, Cambridge University Press, vol.22 no.1, pp.1-20, March , 1962. [Schnepper:10]‡ Jeff A. Schnepper: How to pay Zero taxes; McGrawHill-NewsMax, 2011. [SchoenK:12]‡ Wolfgang Schön and Konrad A Kai (eds): Fundamentals of International Transfer Pricing in Law and economics; Springer MPI studies in Tax Law and Public Finanace, Vol.1, 2012. [ScholesEa:09] Myron S. Scholes, Mark A. Wolfson, Merle Erickson, Michelle Hanlon, Edward Maydew, and Terry Shevlin: Taxes and Business Strategy: A Planning Approach, 5th Ed.; Prentice Hall, 2014 [Scholte:97] J. A. Scholte: Global capitalism and the state; International Affairs, Vol.73. no.V, pp.427-452. [Schreiber:12]‡ Ulrich Schreiber: International Company Taxation, An Introduction to the Legal and Economic Principles; Springer, 2012. All the formulas you’d want, little semantics. [Schreiber:14] Sally P. Schreiber: Notice Defines terms for Econmic Sunstance; Journal of Accountanc 9 Oct 2012. Relevant to ¶199 cases. [SchumanO:93] David Schuman and Dick W. Olufs III: Public Administration in the United States; Lexington, 1993,2nd Edition, D. C. Heath and Company. ..discuss several principles that can guide the choice of who should pay taxes. These principles range from benefits received from government services, ability to pay as measured by their income, to the concept of tax policies that change people's economic behavior (“sin” taxes). Corporations, as beneficiaries of public goods, are, therefore, required to pay for the services the government provides. P., 414-420). [Schumpeter:1912] Joseph Alois Schumpeter: The Theory of Economic Development, an inquiry into profits, capital, credit, interest, and the business cycle; 1912, translated from the German Theorie der wirtschaftlichen Entwickling, 1911, by Redvers Opie; Harvard University, 1934; Oxford University Press, 1961; reprinted by Transaction Publishers, 1983. All goods have their origin in labor or 121 nature. Obviously ignores intelectual output. Demand for new goods, profit, and value, ignoring the cost of production – non-routine profits. Effect of transport costs -- before containerization. [Schuster:11] Steve Schuster: “Samuel Maruca: Strategic Case Selection Key Aspect of Transfer Pricing Practice; BNA Daily Tax Report, 29 July 2011. Report on speech by Sam Marucca. [SchuylerE:13] Michael Schuyler and Stephen Entin: The Economics of the Blank Slate: Estimating the Effects of Eliminating Major Tax Expenditures and Cutting Tax Rates; Tax Foundation Fiscal Fact No.378, 26 July 2013, http://taxfoundation.org/article/economics-blank-slate-estimating-effects- eliminating-major-taxexpenditures-and-cutting-tax-rates. [Schuyler:14] Michael Schuyler: A Short History of Government Taxing and Spending in the United States; Tax Foundation Fiscal Fact no.415, 19 Feb.2014, [SeshasaiG:09] Satwik Seshasai and Amar Gupta: ”The 24-hour Knowledge Factory”; ACM Transactions on Internet Technology, Aug.2009. [SethurmanTR:11] R. Sethurman, G. J. Tellis and R. Briesch: “How Well Does Advertising Work? Generalizations From a Meta-Analysis of Brand Advertising Elasticity”; Journal of Marketing Research, 2011. Considers effect on core (loyal) and switchers (non-loyal) consumers [VIC Ch.3.3]. [Seymour:12] Jim Seymour et al.:4G Mobile Broadband Evolution:3GPP release 10 and Beyond, HSPA+_, SAE/LTE and LTE-Advanced; Jan.2012 update, 210pp.4gamericas.org/ [SGO:98] Senior German Tax Officials: Transfer Pricing: German Positions Shifting on Profit Split And Comparable Profit Methods; International Tax review, 1 Oct 1998. Senior German tax officials responsible for Germany's international tax policies have consistently stated in public that comparable profit methods and transactional net margin methods will not be accepted by the German tax authorities, and that profit splits are only acceptable in rare instances as a method of last resort. They have also frequently expressed their opposition to US-style economic analysis and voiced serious reservations concerning Advance Pricing Agreements (APAs). The rapid globalization of the world's economies and the trans-nationalization of most major.. [Shakespeare:1597] William Shakespeare: Romeo and Juliet; first quarto edition, 1597. [Shah:09] Anup Shah: Tax havens, undermining democracy; Global issues, 12 July 2009. [ShahS:11] Vishal Shah and Smit Sheth: Getting a handle on the Mauritius Tax Treaty; Reuters, 11 July 2011 [ShaneB:11] Scott Shane and Penn Bullock: “Group in U.S. Saw Qaddafi as Big Payday; The New York Times, 18 Nov.2011. It takes $10M to get anything done in Washington. [Shapiro:08] Glen Shapiro: US Treasury “Praises IoM For Role In Fight Against Financial Crime”; Law and Tax News, 18 June 2008. William F. Baity - Deputy Director of FinCen, the Financial Crimes Enforcement Network says Isle of Man cooperates. [ShapiroB:13] Stuart Shapiro and Debra Borie-Holtz: The Politics of Regulatory Reform; Routledge, 2013, 168pp. Survey results in states [ShapiroV:99] Carl Shapiro and Hal R. Varian: Information Rules: a Strategic Guide to the Network Economy; Harvard Business Press 1999. Metcalfe’s law on the quadratic value of networks relative to size. .p.184 credited to Goerge Glider, 1993. But see [BriscoeOT:06]. [Sharman:06] Jason C. Sharman: Havens in a Storm: The Struggle for Global Tax Regulation; Cornell Univ. Press, 2006. [Sharpe:85] William F. Sharpe: Investments; Prentice-Hall, 1985. Capital Asset Pricing Model (CAPM). Expected Rate of Return on Equity Capital RREC = RiskFreeRate + beta * (BroadStockPortfolioReturn - RiskFreeRate). In 2000 the RiskFreeRate based on U.S.Treasury Bonds was 6.13%. The BroadStockPortfolioReturn in 2000 was 11.1%, Beta for SW was 1.31, making RREC= 12.68. Per PWC a small company premium, to be added for startups is 4.4% giving 17%. Without the small-business correction the beta would be 2.174 versus the broad portfolio, less for better matching portfolio. [Shaviro:11] Daniel Shaviro: "The Rising Tax-Electivity of U.S. Corporate Residence"; Tax law Review, Vol.64 no.3 , Spring 2011,p.333; NYU Law and Economics Research Paper No.10-45, 2010, 66 pp., 123 [Shaw:06E] Helen Shaw: “Execs: Broken Tax System hurts Business”; CFO magazine, 21 Sep.2006. Quotes Rossotti at Senate hearing.. 2.9 changes per working day. Kimberly-Clark’s 2005 tax retrun was 3,300 pages. No specific detail, clean slate wanted. . [Shaw:06N] Helen Shaw: “New Transfer pricing Regs a Catch-22”; CFO magazine, 14 Aug.2006. New: Contingent Servoice Agreements,.for R&D. Requires arm’s-length. [Shaxson:12] Nicholas Shaxson: Treasure Islands: Tax Havens and the Men Who Stole the World; St. Martin's Griffin, 2012. Much information, but also a diatribe. [Shaxson:16]ε Nick Shaxson: Report: The treaties that cut taxes in the poorest countries; Tax Justice Netrwok Blog, 24 Feb 2016. [Shay:07] Stephen E. Shay (Partner, Ropes & Gray): Hearing on Banking Secrecy Practices and Wealthy American Taxpayers; Subcomm. on Select Revenue Measures of the H. Comm. on Ways and Means, 111th Cong. 3–4 , 2009. Discussing the various tax gap estimates. 2001 measure did not include offshore [Shulman:08] [Shay:11] Stephen E. Shay: Jobs, Deficit Reduction Revenues and Fundamental Tax Reform; Tax Notes Vol.133 no.2, 10 Oct.2011, pp.213-216. Advocates a mixed policy. Politically wise to be against taxation.. many tax breaks not labeled as tax expenditures. No specific recommnedations. [Shay:12] Stephen E. Shay: Testimony to Congress; Permanent Subcommittee on Investigations, U.S. Congress, 20 Sep.2012. Harvard Law School, Retained income 8% of corporate income is deferred. Data on Ireland MS consol 69.9B 17,5% tax 90,000 emplu, offshore 55.5% earnings $15B – 4% tax, 1900 employees. $8M/employess vs 312 for Ms employees overall. Not consistent with common sense understanding. Offshore is a firewall only. 2009 guidance to subsidiary – should be independent subsidiaries, seems to be ignored. Staes effective US rate is 27%. Multiple layers of valuation issues. Only successful IP gets transferred. Accounting does ot match tax and intangible value. Anti-abuse rules (956) arr drafted to narrowly, and their intent can be easily subverted. “Prior to my current position, I was the Deputy Assistant Secretary for International Tax Affairs at the Department of the Treasury. Before my most recent government service, I was a tax partner at Ropes & Gray LLP for 22 years specializing in U.S. international income taxation before retiring to serve in government in 2009. I have provided a copy of my biography to the Subcommittee. I occasionally consult for Ropes & Gray LLP on mutually agreed projects. 3 I first served in the U.S. Treasury Department’s Office of Tax Policy from 1982 to 1987. I was actively involved in the development through 1984 of the Reagan Administration’s international tax reform proposals and the legislative consideration of the proposals through signing of the legislation on October 22, 1986. The process took almost three years in total”. [Shay:13] Stephen Shay: Testimony before the U.S. Senate Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs Hearing on Offshore Profit Shifting and the Internal Revenue Code; 21 May 1013. On Apple’s tax shifting. [ShearD:14] Michael D. Shear and Coral Davenport: “To pay for Infrastructure Repairs, Obama Seeks Tax Changes”; NewYork Times, 26 Feb.2014. Highwat trust fund broke, but Although needed, no gas tax raise. [Sheehan:09] Neil Sheehan: A Fiery Peace in a Cold War: Bernard Schriever and the Ultimate Weapon; Random House, 2009. Recommended by James M. Kaplan for business-technology. Sheehan botched the framing of this book. General Bernard Schriever may have been responsible for developing the first Intercontinental Ballistic Missile (ICBM), but he’s also a cold and remote figure. It would have been more interesting to focus on the Hall brothers—Edward, the architect of America’s first ICBMs, and Theodore, who betrayed secrets from the Manhattan project to the Soviet Union. That said, A Fiery Peace in a Cold War provides fascinating insights into how Curtis LeMay’s Strategic Air Command deteriorated from an innovative, nonhierarchical organization into a dogmatic bureaucracy and how Schriever and his team convinced the Eisenhower administration to bet on a generational leap from bombers to missiles. [Sheppard:04] Hale E. Sheppard: “Reduced Tax Rates on Foreign Dividends Under JGTRRA: Ambiguities and Opportunities”; J. Int’l Tax’n, July 2004, at 14, 16-17. [Sheppard:12O] Lee A. Sheppard: “Megacoorps Are Not Overtaxed”; Forbes, 17 Apr.2012. Arghues nersus [Helman;12] of Forbes , 16 Apr.2012a, who wrote that LIFO and Oil examptions should remain. Tax Analysts. [Sheppard:12R] Lee A. Sheppard: “Mitt Romney Tax Clarifications”; Forbes, 11 Sep.2012. Refers to 13Aug.2012 report : Your Mitt Romney Tax issues Cheast Sheet’; Tax Analysts. [SheppardS:08] Lee A. Sheppard and Martin A. Sullivan: “Repatriation Aid for the Financial Crisis?”; Tax Notes, 5 Jan.2008. profit multinationals keep offshore with the intention of maximizing tax advantages; between 2003 and 2007, the annual increase in this measure doubled, from $60 billion to $122 billion. [SheppardS:09] Lee A. Sheppard and Martin A. Sullivan: “Multinationals Accumulate to Repatriate”; Tax Notes, 19 Jan.2009. ..[ACM]. [Sherman:11] Andrew J. Sherman: Harvesting Intangible Assets: Uncover Hidden Revenue in Your Company's Intellectual Property; AMACOM. Oct. 2011. [Sherer:65] application to issue lag 3.5 years. For patents [Shierholz:11] Heidi Shierholz: No jobs for more than three out of four unemployed workers; EPI News , Jan.11, 2011. [ShimSD:10] Jae K. Shim, Joel G. Siegel, and Nick Dauber: 2009-2010, Corporate Controller's Handbook of Financial Management; CCH-Wolters, 2010. Have [Shiner:12] Keegan Shiner: The Corporate Tax Evasion Task Force; Community Tax Relief, 21 March 2012. [Shropshire:09] Philip Shropshire: A Combination of Legislative Actions and Increased IRS Capability and Capacity are Required to Reduce the Multi-Billion U.S. International Tax Gap; Treasury Inspector General for Tax Administration (TIGTA), 2009-IE-R001, 27 Jan.2009. Evasion, IRS needs more resourves. Losses due to tax havens are $30B to $70B. [VIC xls /GNP&GDP] http://www.treas.gov/tigta/iereports/2009reports/2009IER001fr.html. [Shulman:08] Douglas H. Shulman: Written Testimony of Douglas Shulman, Commissioner of Internal Revenue, before the Senate Committee on Homeland Security and Governmental Affairs’ Permanent Subcommittee on Investigations Hearing on Tax Haven Financial Institutions: Their Formation and Administration of Offshore Entities and Accounts for Use by U.S. Clients , July 17, 2008. Individuals, Complexity. Intermediaries insecrecy jusrisdictions. Switching jusrisdictions. Aggressive tax palnning by multinationals. QIs , tax treaties, but still bank secrecy laws and lack of information of beneficial owners. Complex transaction not fully understood. More time needed. Subpart F. Imbalance of domestiv corporations. [Shulman:09]‡ Douglas H. Shulman: Prepared remarks of Commissioner Douglas Shulman before the 22nd Annual George Washington Univeristy International Tax conference, IR-2006-116, 10 Dec 2009. Progress in a muklti-year international compliance strategy. Focus on tyransfer pricing, hybrid structures, and withholding taxes. Transfer pricing needs more people. Industry groups, including global wealth.. [Shulman:10C]‡ Douglas H. Shulman: Prepared Remarks of Commissioner of Internal Revenue to New York State Bar Association Taxation Section Annual Meeting in New York City; IRS, Jan. 26, 2010, 125 ramps up the stakes for foreign financial institutions that will have to agree to disclose U.S. investors to the IRS or feel the pain of a substantial new withholding tax on U.S. income and gains. The mere enactment of FATCA should prompt preparers and advisors to expand their due diligence regarding offshore account issues, including, but not limited to income tax reporting. Overall, FATCA makes the world a much riskier place for US taxpayers still trying to hide their money anywhere around the world. [Shulman:10R] Douglas H. Shulman: IRS Realigns and Renames Large Business Division, Enhances Focus on International Tax Administration; IRS IR-2010-08, 4 Aug.2010 . Shulman LB&! LB&I will add LMSB’s 875 employees to the existing international staff of 600. Among the responsibilities of the new entity are: identifying and addressing emerging compliance issues; decreasing instances of tax evasion through foreign holdings; increasing IRS specialization in international issues; overseeing implementation of the Foreign Accounting Tax Compliance Act (FATCA); and revising tax treaties and tax information exchange agreements., LB&I will serve the same segment of U.S. taxpayers, which include corporations, subchapter S corporations and partnerships with assets greater than $10 million and certain high-wealth individuals. [Silsby:13] Kleinbard to Testify Before Ways and Means Committee; USC Gould School of Law, 12 June [Silsby:13] Kleinbard to Testify Before Ways and Means Committee; USC Gould School of Law, 12 June 2013. [SimanjuntakT:11] Destrina Grace Simanjuntak and Raymond R. Tjandrawinata,:” Impact of Profitability, R&D Intensity, and Cash Flow on R&D Expenditure in Pharmaceutical Companies”; (April 29, 2011). Available at SSRN: http://ssrn.com/abstract=1824267 or http://dx.doi.org/10.2139/ssrn.1824267 {SimenskyB:94] Melvin Simensky and Lanning G. Bryer: The New Role of Intellectual Property in Commercial Transactions; John Wiley & Sons, 1994. [Simmons:38]‡ Henry Simmons . Classic work on individual income tax. [Simms:11] James Simms: “Japan Needs to Muffle That Hollow Sound”, Wall Street Journal, 9 Dec 2011. Hollowing out: Japan offshores 33% of its manufacturing, expected to rise to 39% by FY2015. [Simpson:02]‡ Glenn R. Simpson: "Enjoy, A New Twist in Tax Avoidance: Firms Send Best Ideas Abroad"; Wall Street Journal, 24 June 2002. Front Page Changes in handling of IPR&D handling are due. Watch FASB. SFAS 141 and 142. 28% discount rate used. Comment on Levitt (SEC) 1998 talk. [Slemrod:88] Joel B. Slemrod: Progressive taxes; The Concise Encyclopedia of Economics, Library of Economics and Liberty, 127 [Smith:97] Gordon V. Smith: Trademark Valuations, 3rd; Wiley 1997. Book is also referred as "Valuation' in Amazon. In Great Britain, since 1981 `Companies Act', trademark values can be placed on the books. But the U.K. Accounting Standards Committee (ASC) disagreed subsequently, but with amortization they can appear. Internally generated trademarks are only to be put on the books if they have an ascertainable value [SmithP:00, p 92] . [Smith:08] Vernon L. Smith: Rationality in Economics: Constructivist and Ecological Forms; Cambridge Univeristy Press, 2008. This guide is about centrist economics but you can easily be a libertarian. The Nobel Prize winning economist has created and absorbed all of these modern advances in economics and makes the case for markets in a way that the Friedrich Hayek would love. Not very relevant as I glanced through it excellence > and efficiency. This allows them to compete on lower costs once an > adventurous first mover has sufficiently reduced uncertainty in the > industry.." [SolomonS:09] Charlene Solomon and Michael S. Schell:Managing Across Cultures: The Seven Keys to Doing Business with a Global Mindset; McGrwa-Hill, 2009. Abstracted by Gary [Stern:10] . Focus on Culture. Much on exopatriates. [SolutionMatrix:07] SolutionMatrix Ltd, Boston, MA 2007. [Sougiannis:94] Theodore Sougiannis: ‘‘The Accounting Based Valuation of Corporate R&D”; Accounting Review, 1994, Vol.69, no.1, pp. 44-68. Profits due to advertising, but the benefits of advertising are limited to the period in which the expenditures are incurred. . [VIC Ch.3.3]. [Sougiannis:94] Theodore Sougiannis: “The Accounting Based Valuation of Corporate R&D”; The Accounting Review, Vol.69 No.1, Jan.1994, pp.44-68. Profits due to advertising, but the benefits of advertising are limited to the period in which the expenditures are incurred. at 65 On the average a $1 increase in R&D spending leads to a $2 increase in profit over a seven year period and a $5 Market value increase. Some is due to shareholders seeing and valuing IP R&E credits are considered [VIC Ch.3.3]. Ch.10.5.1]. . File GbG/refs/Sougiannis.pdfl>. [Sowell:11] Thomas Sowell: Basic Economics: A Common Sense Guide to the Economy, 4th Edition; Basic Books, 2011 [Specter:14] Michael Specter: “The Gene Factory”; New Yorker Magazine, 6 Jan.2014, pp.34-43. Story on BGI, and Chinese DNA research. Quote by Jay Flatley of Illumina `It’s one thing to sell Coke and another thing to sell the formula for Coke’. [SpitzerWW:06] Cindy Spitzer, Bob Wiedemer, David Wiedemer: America's Bubble Economy, Profit when it Pops; Wiley, 2006. Buy Gold 129 [Stahl:11] Leslie Stahl: A look at the world's new corporate tax havens; CBS News, 60 minutes, 25 March 2011; The new tax havens; CBSNewsOmline. 14 Aug.2011 http://www.youtube.com/watch?v=MxgezC4KhXQ. Chambers: Cisco has 30B. 1.3T. "We can't write a law their lawyers can't get around. That's the whole problem here”; [Congressman] Doggett explained. "You're in Congress. Why did Congress write these laws that allowed this to happen?" Stahl asked. "There's been a lot of arm twisting, a lot of effective lobbying here, and some really smart tax lawyers figuring out how to game the system with one shenanigan after the other”; the congressman replied. "But are they shenanigans or is it the law?" Stahl asked. "I think it was a shenanigan when some of these companies felt so strongly about America that they renounced their American citizenship and began saluting a foreign flag. They exploited a provision in our tax laws and moved offshore”; Doggett said. Read more: [Stewart:11] David Stewart: “IRS to Take a ‘Fresh Look’ at Cost Sharing Case Inventory, Transfer Pricing Director Says”; Tax Notes, 28 July 28, 2011. Notes from 27 June 2011 speech by Sam Marucca. CIP has to be revisted because of Veritas case.. [Stewart:12] James B. Stewart: “Tax me if you Can”; New Yorker Magazine, 19 March 2012, pp.46-53. Residency and New York City tax. [Stewart:12D] David Stewart: Cost Sharing Regs Bar Retroactive Adjustments to RAB shares, Officials Say; Tax Notes Today, 14 March 2010. Joseph L. Tobin, senior counsel, branch 6, IRS Office of Associate Chief Counsel (International), explained that the new language added to reg. Section 482.7(e)(1) on RAB makes it clear that taxpayers may not use information acquired later to make a retroactive change, but that the IRS may still make retroactive adjustments. [Stiglitz:06] Joseph Stiglitz: Making Globalization Work; Norton 2006. Ex World bank, Nobel laureate, now at Columbia Univ. No mention of taxhavens in index. Have. [Stiglitz:10] Joseph Stiglitz: Freefall, paperback edition; Norton 2010. 2007-2009 recession. have [Stiglitz:12] Joseph Stiglitz: The Price of Inequality: How Todays Divided Society Endangers Our Future; Norton 2012. Ex World bank, Nobel laureate, now at Columbia Univ. elaboration of his 2011 Vanity Fair article "Of the 1%, for the 1%, by the 1%." have [Stobbs:00]† Gregory Stobbs: Software Patents, 2nd ed.; Aspen publishers, 2000. [Stockman:13] David Stockman: The Great Deformation: The Corruption of America; 2013. Diatribe. [Stoll:89] Cliff Stoll: The Cuckoo’s Egg: Tracking a Spy Through the Maze of Computer Espionage; Doubleday, 1989. Recommended by James M. Kaplan for business-technology. Stoll’s account of tracing a 75-cent accounting anomaly back to a KGB-funded, German spy ring introduced many of us who grew up in the 1980s to the idea of information security. It provides an invaluable reminder that protecting sensitive information depends far more on the ability to ask intelligent questions than on the latest and most loudly promoted security tools. It also provides a fascinating introduction to the process of security forensics. [StolowyJ:01] Hervé Stolowy and Anne Jeny-Cazavan: “International accounting disharmony: the case of intangibles”; Accounting, Auditing & Accountability Journal, MCB UP Ltd., 2001, Vol.14 No.4, pp.477–497. {Stone:11] pre IPO valuation by early shareholder sales. Replaced by [Protalinski:12]‡ [Stone:12] Chad Stone: Pols Be Warned: Closing Loopholes Will Be Tough; Economic Intelligence, US News & World report; 18 Oct. 2012. [Stone:13] Brad Stone: The Everything Store: Jeff Bezos and the Age of Amazon; Little Brown, Oct 2013. Opportinities in the Internet businesses. [VIC Ch10.9, G18] [Stossel:12] John Stossel: No, They Can't, Why Government Fails-But Individuals Succeed; Threshold Editions, Simon and Schuster Digital Sales Inc, 2012. [Stout:12] Lynn A. Stout: The Shareholder Myth; Berret-Kohler, 2012. slim and elegant polemic, explains the idea's two problems: It's worked out horribly, and as a matter of law, it's not true.[Eisinger:12] . The biggest ill has been to align top executives pay with performance, usually measured by the stock price. This has proven to be "a disaster She advocates what campaigners have called the "Robin Hood tax" — a transaction charge on securities trades. A small tax would curtail zero- sum, socially useless trading and might insulate corporations [Studt:07] Tim Studt: “R&D Outsourcing Becomes More Strategic”; R&D magazine, June 2007, pp.26-29; www.rdmag.com; guidance/references. Survey data on quantity, who, type, why not (58.4% IP), why, where, motivation. Globalization. [Styron:07] W. Joey Styron: “Transfer Pricing and Tax Planning”; CPA journal, Vol.77 no.11, 2007 pp.40- 45. DISCs and FSCs, PAD, Domestic Production Activities Deduction. Use of CFCs. Restates Regs., Coparabilty is they key. “the taxpayer can effectively plan transfer prices to reduce taxes for the dontrooled group as a whole”. [Sullivan:00] Patrick H. Sullivan: Value-Driven Intellectual Capital: How to Convert Intangible Corporate Assets into Market Value; Wiley, 2000, 304.pp. How can buyers and sellers calculate the assets of the 131 acquired firm in a merger or acquisition? A source are the ICM (intelectual Capital Mangers) Gatherings [VIC Chap.5.2.8]. [Sullivan:04] Martin A. Sullivan: “Data Show Dramatic Shift of Profits to Tax Havens”; Tax Analysts, 2004. Repatriation questions. ..[ACM]. [Sullivan:05] Martin Sullivan: ;Tax Notes in 2005 mention 50B removed. 2004 repartition at 5.25%. Total Corporate taxes 354Billion. [Sullivan:06] Martin A. Sullivan: “Drug Firms Move Profits to Save Billions”; Tax Notes, TaxAnalysts, 7 Aug.2006. Income Transfer offshore after Puerto Rico phase-out. ..[ACM]. [Sullivan:09] Martin A. Sullivan: "Economic Analysis: So 1980s: The Return of Nickel-and-Dime Tax Policy"; Tax Notes, 151-6, 6 Aug.2009. Ireland is a semi taxhaven. Profits by U.S, companies in Ireland doubled from 1999 to 2002 from $13.4B to $26.8B. [Sullivan:10M] Martin A. Sullivan: Multinationals and Jobs ; Tax Notes, 8 Feb.2010. From 1999 to 2007, U.S. multinationals eliminated 1 million jobs at home while adding 2.5 million jobs abroad. Cited by [Pelosi:10]‡ ..[ACM]. [Sullivan:10P]‡ Martin A. Sullivan: “Pharmaceutical Companies Keep Profits Abroad”; Tax Notes, Mar.2010. Quoted in Bloomberg Business Week, 29 December 2010. ..[ACM]. [Sullivan:10R]‡ Martin A. Sullivan: “Repatriation Holiday Would Destroy American Jobs”; Tax Notes, 15 Nov.2010. [Sullivan:11] Martin A. Sullivan: Corporate Tax Reform: Taxing Profits in the 21st Century; Apress, 2011. On Kindle. Tax expenditures quantified In general $10B reduced = 1% lower corp. tax for all. Caut the rate . changing 35% to 25% would cost $100B/year based on yield of !0%. don’t target specific industries. Problems associated with stopping corporate taxation [760] Changing would require an “epidemic od Rationality” [906] . Personhood [856] Debt vs shareholders, multinational have more opportunity to shift taxes out of the country. Incentives do more for low margin tangibles – based industry than for high tech [1066] . [VIC xls /taxexpenditures] ..[ACM]. [Sullivan:11C]‡ Martin Sullivan: Testimony before the House Ways and Means Committee; 20 Jan 2011. Data on effective taxrates of 14 companies, effect of taxhavens. Job creation. Taxhaven profitability. Transfer pricing. Arms’s length flawed.. pharmaceutical. Ignores finacial taxhaven transfers. ..[ACM]. [Sullivan:11K] Martin A. Sullivan: `Stateless Income’ is the Key to Tax Reform; Tax.com, 27 Jun.2011. Quotes Kleinbard. Versions of terriroriality. Irish fix is easily avoided by moving to BCDs [ACM]. [Sullivan:11L] Martin A. Sullivan: What the Debt Limit Debacle Teaches Us About Tax Reform; Tax.com 18 Jul.2011. On Lopholes – tax expenditures: graduated corporate income tax, carried interest, limit itemized deduction, tax haven, tax large passthrough , corp.cradt depreciation, ethanol tax credit domestic production Donmestic production credit. [Sullivan:13] Martin A. Sullivan: Tax Policy in a Knowledge-based Economy; Tax.com, 21 Oct.2013. ..[ACM]. [Sullivan:19]ε Martin A. Sullivan: Economic Analysis_ Fixing GILTI, Part 3_ Substance Exception; Tax Notes, 3 Jun.2019. Much about substance related to OECD proposals on corporate exceptions. [SullivanZS:09] William F. Sullivan, Thomas A. Zaccaro, and Adam D. Schneir: The SEC’s View of Auditor Independence; Bloomberg Law Reports -- Risk and Compliance, Vol.2 No.1, 2009. (Paul, Hastings, Janofsky, & Walker LLP). [Sultanoğlu:98] Sencer Sultanoğlu and Ümit Karakaş: Cost Estimation Models. Hacettepe Üniversitesi, Oct.1998. [Summers:08] Lawrence Summers: “A Strategy to Promote Healthy Globalization”; Financial Times, 4 May 2008. Defines capital to include Intellectual capital. Relation to labor, glkobal and local. Race to the bottom. [Summers:13] Nick Summers: “The Einhorn effect”: BBW, 25 Mar. 2013. Apply offshore holdings and a proposed shareholder payout a scheme. [SuringaM:01] Dirk J.J. Suringa and Jeffrey Moeller: Foreign Personal Holding Companies; Tax Management Inc., 2001. [Surowiecki:04] James Surowiecki: The Wisdom of Crowds; Doubleday, First Anchor Books, Random House, 2004. [VIC Ch.5.3.2] [Surowiecki:09] James Surowiecki: The Debt Economy; The New Yorker, Nov.23, 2009. How the tax code encourages Debt. [Surowiecki:11] James Surowiecki: Innovative Consumption; New Yorker Magazine, 16 May 2011, p.42. Cropbox, PC, Consumer willingness to take risk. [Box] [Surowiecki:15] James Surowiecki: Drop in the Bucket; New Yorker Magazine, 7 Sep.2015, p.28. Unjustiofied panics, given the size of the US GDP and China exports. Foolish iPhone expectations. [Box] [SurreyM:74 ] Stanley S. Surrey and Paul R. McDaniel: Pathways to Tax Reform: The Concept of Tax Expenditures; Harvard University Press, 1974. [VIC, App.E] [SurreyM:85] Stanley S. Surrey and Paul R. McDaniel: Tax Expenditures; Harvard University Press, 1985. [Sutton:98] John Sutton: Technology and Market Structure; MIT Press, 1998. R&D spending does not automatically lead to profits. There must be a market as well. Ivalidates Cost-based valuation. [VIC Chap5.3.2, 5.3.7] [Sveiby:97] Karl-Erik Sveiby: The New Organizational Wealth; Berrett-Koehler publishers, San Francisco, 1997. Experience in Sweden. IP assets score sheet, including worksheet, Used by Infosys. Focus on publishing segment. Intellectual capital should be on the books. [Swenson:01] Deborah L. Swenson: “Tax reforms and Evidence of Transfer Pricing”; National Tax Journal, Vol.54 no.1, March 2001, pp.7-25. Also UC Davis and NBER, 2000. TTTTTTTTT [Tabuchi:10]‡ Hiroko Tabuchi: After Tough Year, Pay Cuts and Forfeited Bonuses for Top Toyota Executives; The New York Times, 24 June, 2010. 133 [TAF:04] The Appraisal Foundation: Uniform Standards of Professional Appraisal Practice; Standard 9, 2004 Edition. [Taleb:07] Nassim Nicholas Taleb: The Black Swan: The Impact of the Highly Improbable; Encounter Books, Random House, 2007. On the very small and impossible to predict chance of an event with a very large impact. [TamaiT:92]† Tetsuo Tamai and Yohsuke Torimitsu: "Software Lifetime and its Evolution Process over Generations"; Proc. Conf. on Software Maintenance, ICSM, Nov.1992, pp.33-37. [VIC Ch.5.3.3] [Tamai:02]† Tetsuo Tamai: "Process of Software Evolution"; First International Symposium on Cyberworlds, Tokyo, Nov.2002, pp.8-15. More on life and diminution [VIC Ch.5.3.3] [TambeH:10] Prasanna B. Tambe and Lorin M. Hitt: “How Offshoring Affects Workers”; CACM, Vol.53 No.10, Oct.2010, pp.62-70. [Tang:93] Roger Tang: Transfer Pricing in the 1990’s: Tax and Management Perspectives”; Quorum, 1993. A GAO survey of 519 multinationals in 1980/1981 revealed that 60.1% of IRS adjustments (as measured as a percent of total dollar adjustments), represented pricing adjustments. In terms of dollar volumes, pricing adjustments were followed by adjustments to income allocation, expense allocation, intangibles, services, interest, rentals, and gain allocation. [TanPH:08] Hong Pew Tan, David Plowman, and Phil Hancock: "The Evolving Research on Intellectual Capital; Journal of Intellectual Capital, Vol.9 No.4, Emerald publications, 1469-1930, 2009, pp.585- 608. [Tanzi:00]‡ Vito Tanzi: Globalization, Technological Developments, and the Work of Fiscal Termites; IMF Working Paper number 00/181, Nov.2000. Termites are 1. Electronic commerce &sale of digital goods from tax havens. 2. Electronic money 3. Inracompany trade 4 offshore finacial centes, Derivatives and hedge funds 6. Inability to tax capital. & forieign activities and ssavings, 8 foreign shopping. [Tanzi:11] Vito Tanzi: Government versus Markets: the Changing Economic Role of the State; Cambridge University Press, May 2011. The author is a skeptic of a large paternalistic state and believes that the governments roles are to regulate markets and let private competition be the source of growth rather than governments fill the role of markets with failures. Given the externalities of many markets the author does not believe prices act as signals in many modern day industries and information asymmetries need to be fixed by the state. Government versus Markets is a good overview of a subject which will no doubt be a major topic of discussion in the coming decades. On the one hand, the welfare state seems to have become unsustainable and requires deep structural change to provide the populations that reside within them the opportunities that they deserve but at the same time small government reduces the voice of the community in an increasingly globalized world [Amazon reviews] . [TanziS:00] Vito Tanzi and Ludger Schuknecht: Public Spending in the 20th Century: A global Perspective; Cambridge Univ. Press, 2000. Have. Much social redistributive spending is just churning. Transparency of subsidies is need for trust. Favors privatization to reduce governments share of GDPs [Tarbell:09] Ida Tarbell: The History of the Standard Oil Company, Unexpurgated Edition; Halcyon Classics, 2009. Corporations owning corporations – slavery if a corporation is a person? On Kindle. [Tatikonda:99] Mohan V. Tatikonda: “Platform and Derivative Development Projects”; J.Product Innovation and Management, Vol.16, 1999, p.3-26. Six proposition focusing on new projects. with 46% samples. success factors, higher for derivative, but sparse data. No effort data. [TaxF:11] Tax Foundation: National Corporate Tax Rates; [TaylorFC:06] Paul, , Cary Funk, and Peyton Craighill: A Barometer of Modern Morals; Pew Research Center. Washington DC, 28 Mar.2006. Washington DC Princeton Survey approved tax evasion (79%) follows cheating on ones’ spouse (88%). [TempleWest:12] Patrick Temple-West: IRS forms `Swat Team’ for Tax Dodge Crackdown’; Accounting Today, 20 Mar.2012. Report on Maruca appointment by Dolan, KPMG, ex IRS . More hiring in the face of budget cuts . Hiring econmists from accounting firms for transfer procibnnfg, 40 on-board, 60 to come. Budget cut 2.5% Underpaid and Outgunned , Skepticism about Maruaca’s chances. Dolan questions if resources are sufficient. Problem with intangibles.. Court decisions lost. Also in Huffington Post / Reuters, 20 March 2012. [TempleWest:12C] Patrick Temple-West: IRS Chief: Congress Not Acting `Real Disaster’; Huffington Post 5 Apr.2012. Shulman – tax delays, Exempting provions [Teplykh:13] Grigorii Teplykh: Specificity of Corporate Value Creation in Different Types of Companies; National Research University Higher School of Economics, Perm, Russia, 5th European Conference on Intellectual Capital, Bilbao, Spain. April 2013. [TerrP:77] Leonard Brian Terr and Gordon O. Pehrson, Jr.: Foreign Corporations: Reorganizations, Liquidations, and Similar Transactions; Bureau of National Affairs, 1977. Bio on Amazon [Terr:10] Leonard B. Terr (chair): Handling Federal Tax Controversies in the United States; North American Tax Practice Group, Baker & McKenzie, 2010. Chair 2011 is Leonard B. Terr. (Terr's master's thesis was on "Shaftesbury and the Augustan Compromise”; A.M. thesis, Brown University, 1968 (focusing on 18th century English literature and the Earl of Shaftesbury, Anthony Ashley Cooper (1671-1713)). [TewaryEa:12] Akshat Tewary, Alexis Goldstein, Corley Miller, George Bailey, Caitlin Kline, Elizabeth K. Friedrich, Eric Taylor, et al.: Re: Prohibitions and Restrictions on Proprietary Trading and Certain Interests in and Relationships With, Hedge Funds and Private Equity Funds; Occupythesec.org, 2011, RIN 1557-AD44; RIN 7100 AD 82; RIN 3064-AD85; RIN 3235-AL07; 135 [ThompsonZ:11] Mark Thompson and Terri LaRae Zuraff: Export Tax Incentives (Portfolio 934); BNA Tax & Accounting, Product Code: TPOR43 Edition Code: TMF934 $400.00 [Thornton:02] E.A. Thornton: “Valuation of Software Intangible Assets”; ASA International Conference. San Diego, CA. Aug.2002. [Thornton:04] Mark Thornton: How Outsourcing Creates JOBS; 11 April 2004, lew Rockwell.com.. [Thorpe:10] Simon Thorpe: A flat rate Financial Transaction Tax to replace all taxes; CNRS, Toulouse, France, 29 Oct 2010. [email protected]‐tlse.fr.. has some numbers. post at http://simonthorpesideas.blogspot.com/ Zero rate for repatriation. [Thomson:12] Ainsly Thomson: “U.S. Firms Face British Grilling on Tax Practoces”; The Wall Street Journal, 12 Nov. 2012. Google, Amazon, and Starbucks were accused of being immoral.[ACM]. [Tichon:09] Nicole Tichon: "Tax Shell Game: The Taxpayer Cost of Offshore Corporate Havens"; U.S. Public Research Interest Group, April 2009. [TownsendJ:99] John A. Townsend and Lawrence R. Jones, jr.: DHL - A Strategy Lesson in Transfer Pricing Controversy; Townsend & Jones Newsletter, January 1999. arbitrary, capricious, or unreasonable [Townsend:09]‡ John Townsend: “Tax Ostruction Crimes: Is Making the IRS’s Job Harder Enough?”; Houston Business and Tax Journal, Vol.9, 2009. A list of 27 legal - even morally neutral objective – means to exploit IRS inefficiency, even increasing increasing tax payments to avoid audits. [Townsend:11] John A. Townsend, Larry Campagna, Steve Johnson, and Scott Schumacher: Tax Crimes 2008; 137 economic consequences of these tough policy choices. I think there needs to be a lot more discussion, articles, and a robust agreement as to how do we raise the standard of living. [Tufte:86] Edward Tufte: The Visual Display of Quantitative Information, Edward Tufte; Graphics Press, 1982. Recommended by James M. Kaplan for business-technology. Design know-nothings will tell you not to simplify your slides and not put too much information on any of them. Tufte points out that communicating information is the purpose of written communications, that far too many charts don’t have much information in them at all, and that well-designed graphics allow us to absorb tremendous amounts of information quickly. For example, what Tufte describes as “layering” allows you to drill into the information you need. Think of a newspaper front page. You can scan all the headlines, then look at the sub-headlines for interesting articles, and then decide whether to read the first few paragraphs. Fortunately, the same type of layered structure can be used to communicate the business case for new initiative or project. [Tyson:11] Laura d'Andrea Tyson: The Logic of Cutting Corporate Taxes; The New York Times April 8, 2011. Mentions S-corporations. [Tyson:13] Laura d'Andrea Tyson: “Modermizing Corporate Taxation”; Het Financieele Dagblad & Reuters, 28 Jul.2013. Will be a key agenda point at the upcoming G-20 summit in Russia. Favoers lower rates and territorial taxation, ignoring IP and taxhavens. [Tzu:340BCE] Sun Tzu: The Art of War, translated by Samuel B. Griffith; Oxford University Press, 1983. Consider five factors: `moral standing, the climate, the terrain, command capability, and doctrine’ UUUUUUU [Uceda:12] Ágata Uceda: Which Goodwill is Relevant for Transfer Pricing Purposes?; Tax Management Transfer Pricing Report Perspective, 13 Dec.2012. Author is with DLA Piper, Amsterdam. “it amounts to local internal synergies” [VIC Ch.3.3.6] [UN:05] United Nations, Economic and Social Council Committee of Experts onInternational Cooperation in Tax Matters, Nov.2005. Abuse of tax treaties and treaty shopping. [VIC Ch.8.6]. [UN:06] United Nations, Economic and Social Council Committee of Experts on International Cooperation in Tax Matters, Oct.2006. Treaty abuse and treaty shopping [VIC Ch.8.6]. [UN:07] United Nations, Economic and Social Council Committee of Experts on International Cooperation in Tax Matters, Nov.2007. Improper use of treaties [VIC Ch.8.6]. [Undercurrent:16] The Undercurrent: The Guide to Legal Tax Evasion: Video UC007, Australia, 2016. https://www.facebook.com/TheCurrentUnder/videos/ . Everyone's in a flap over the Panama Papers, but here at The Undercurrent we're WAY more pissed off about the legal and basically out-in-the-open ways that multinationals can avoid paying tax in the countries where they generate staggering profits. Summarizes methods being used by corporations [Urdank:11] Albion Urdank: Can Britain really Prosper ‘Unfettered by the EU?; WSJ, 31 Dec 2011. Cameron acts as a representative of the City of London. [VIC Ch.6.2, App.D: City]. [US:06] United States Model Income Tax Convention of Nov.15, 2006, United States Model Technical Explanation Accompanying The United States Model Income Tax Convention of Nov.15, 2006. [VIC Ch.8.6]. [UScensus:08] U.S. Census Bureau: Statistics about Business Size (including Small Business); US Department of Commerce, 2010, http://www.census.gov/econ/smallbus.html. [UScensus:10] U.S. Census Bureau: Facts about the Census 2010 Residence rule; US Department of Commerce, 2010. [USCoC:11] U.S. Chamber of Commerce: Jobs Agenda, Intellectual Property; [USCongress:12] The family and business tax certainty act ...Jul.2012. [USConst:1787] Constitution of the United States; 1787. Article 1, section 8: The power of Congress. 17 Sep.1787, ratified 21 June 1788. [VIC Ch.8.1] [USHTS:10] Harmonized Tariff Schedule; U.S. Customs Service, ... , 2000 pp.Enabled as Chapter 4—Tariff Act of 1930, Subtitle I—Harmonized Tariff Schedule of the United States (§ 1202). [USITS:10] United States International Tax Site: The AJCA in 2005; USA-International-Offshore- Company-Tax.Com, retrieved 4 Jun 2012. $300B were repatriated, but funds not repatriated are out of reach of the IRS. [USPAP:04] The Appraisal Foundation: 2004 Edition of the Uniform Standards of Professional Appraisal Practice , Standards 9 & 10: Business Appraisal, https://www.appraisalfoundation.org/html>/standards.asp?FileName=current_uspap, Jan 2005. For intangibles cost is not cited as a method. [USPAP9:04] The Appraisal Foundation: 2004 Edition of the Uniform Standards of Professional Appraisal Practice , Standard 9: Business Appraisal, Development, Jan.2005, 139 Starbucks, and Amazon "Inconsistent with International Norms and Undermines the International Tax System:" VVVVVVVV [Vance:10] Ashlee Vance: “Suit Over Faulty Computers Highlights Dell’s Decline’; The New York Times, 28 June 2010. [vandenDool:12] Pim van den Dool: “NS ontwijkt belasting via Ierland”; Nieuwe Rotterdamse Krant, 1 Sep.2012. http://www.nrc.nl/nieuws/2012/09/01/ns-ontwijkt-belasting-via-ierland/ [vanDijkWM:06] Michiel van Dijk, Francis Weyzig, and Richard Murphy: The Netherlands: a tax haven?; Stichting Onderzoek Multinationale Ondernemingen, Amsterdam, Nov.2006, at http://bit.ly/aC2zuB (SOMO) also Francis Weyzig, Michiel van Dijk, and Richard Murphy in SSRN. SGI=BFI, IKEA. Assets held in SFI’s, about 20,000 80% no employees, about 100-125 really big. license payments examples. = Duitch sdandwich. [VIC xls /taxhavens] [Valenduc BS:03] Christian M.A. Valenduc, Hana Polackova Brixi, Zhicheng Li Swift: Tax Expenditures - Shedding Light on Government Spending Through the Tax System: Lessons from Developed and Transition Economies; World Bank Publications, 31 Jan 2003. [VanAlstyne:13] Marshall Van Alstyne:”Economic and Business Dimensions, Why Not Immortality”: CACM, Nov. 2013, pp.29-31. On life of humans, code, and laws. [VIC Ch.5.3.3] [VandenBergC:18] David van den Berg and Stephen K. Cooper: U.S. Chamber Head Concerned About Threats to TCJA’S Benefits; TaxNotes, 20 Sep 2018. [vanHiltenEa:10] Dirk van Hilten, Richard Fletcher, Antonio Russo, Clive Jia-A-Joen, Margreet G. Nijhof, Pawel Wrblewki: Maximizing Tax benefits from Intangible Property Development and Ownership; Presentation slides, Baker McKenzie, Amsterdam, 10 March 2010, of returns are in between 20-35 percent annually.- The contribution of basic research often turns out to be much bigger than the contribution of product development or of process R&D (although riskier as well). Refers to IBM:11 [Veon:03] Joan Veon: Global Taxation And Tax Harmonization; Aug.20, 2003. 141 WWWWWWW [WainerAS:13] David Wainer, Gwen Ackermann, and Shoshanna Solomon: An Israeli Power Broker With an Empire at Risk; BBW, 7 Jan 2013. Indirect reference to recent Israeli regulations, promoted by Netanyahu, limiting new holding companies to two levels of subsidiaries, and restricting existing ones to three levels. [Wald:98] Matthew L. Wald: “F.A.A. Inspectors Are Divided Over Safety Violations by ValuJet”; The New York Times , 1 March 1998. [Walden:05] Eric A. Walden: Intellectual Property Rights and Cannibalization in Information Technology Outsourcing Contracts; MIS Quarterly, Vol.29 No.4 - Dec.2005, 699-720. Importance of SW. SW as an outcome to be allocated (not divided as in first par.) (but it is also an input!). Lengthy intro with too many examples of tangibles. The last sentences p.702, col.2, par 1. are dumb, because they suppose that investment is more than the value garnered, The reasoning does not apply at all to cost-shared SW development. Since we base value on income, value is verifiable (p.705, col.2 last par). Excludability implies risks in offshoring (p.706, col,1. Last par.), including cannibalization (p.711, col.1). The payoff alternatives could be interesting in comparing technical R&D investments and marketing investments. But the model assumption is throughout that all parties share the market, but in CFC contracts the markets are always contractually disjoint, say North-America versus the rest of the world. This choice is not listed as an alternative in Table 3. Globalization. [Walker:06] David M. Walker: Tax Compliance, Challenges to Corporate Tax Enforement; US Government Accountability Office report GAO-06-851T, 7 Jul.2006, 26pp. [Walsh:01] Keith Walsh: The Economic and Fiscal Contribution of US investment in Ireland; Journal of the Satistical and Social Onquiry Society of Ireland; Vol.XL, no, 164, 1 dec.2010, pp.33-59. Delaware had more corporate entities, public and private, than people — 945,326 to 897,934. Over the last decade, the Delaware loophole has enabled corporations to reduce the taxes paid to other states by an estimated $9.5 billion. Laszlo Kiss, an Romanian accountant and author of “United States, Tax Heaven — Uncle Sam Will Fight Your Taxes!” that praised the state’s lax rules. He is now awaiting trial in Bucharest on charges of helping embezzle and launder $10 million through Delaware shells. The New York Times Company has seven corporate subsidiaries registered at 2711 Centerville Road in Wilmington. The registered agent for that address is the Corporation Service Company, which is the second-largest agent in the state. Bradley P. Lindsey, an accounting professor at North Carolina State University and one of three authors of a 2011 study titled “Exploring the Role Delaware Plays as a Domestic Tax Haven.” Delaware does not tax certain profit-making intangible items — like trademarks, royalties, leases and copyrights. Yet those same intangibles can be part of a tax strategy that allows them to be classified as deductions in other states, reducing a company’s tax bill there. [ACM] [Wayne:13] Leslie Wayne: “Cook Islands, a Paradise of Untouchable assets”;The New York Times, 14 Dec.2012. Focus in individual liability and tax evasion, [Weber:68] Max Weber: Economy and Society; Bedminster Press, 1968. [Weiler:95] Dave G. Weiler: More on Trademark Royalties; AUS, Mt.Laurel, NJ, 1995. Author is with AUS Consultants. Analysis of DHL case – encumbered trademark. Chap.3, App.D. [Weiler:04] Dave G. Weiler: Valuing Your Intellectual Property for Strategic Alliances and Financing; Presentation at NJSBDC, 8 Dec 2004. Shows results from RoyaltySource, [Weiner:09] cited by MarkleS09. Elimination of deferral [Weiss:69] L.W. Weiss: “Advertising, Profits, and Corporate Taxes”; Review of Economics and Statistics, 1969. Profits due to advertising. [VIC Ch.3.3]. [Weissler:01]‡ Robert Weissler: APA Study Guide; ; www.irs.gov/pub/irs-apa/apa_study_guide_.pdfl>, in 11 Transfer Pricing Report 533, 10/2/02, 2002. p.59 with 461 f memo 457 outline 403b “The precise definition in the regulation is somewhat difficult to understand” “For purposes of this section, the interquartile range is the range from the 25th to the 75th percentile of the results derived from the uncontrolled comparables. For this purpose, the 25th percentile is the lowest result derived from an uncontrolled comparable such that at least 25percent of the results are at or below the value of that result. However, if exactly 25 percent of the results are at or below a result, then the 25th percentile is equal to the average of that result and the next higher result derived form the uncontrolled comparables. The 75th percentile is determined analogously.” Reg. § 1.482–1(e)(2)(iii)(C)” (filed in guidance/references/Weissler, also CSA slides). [Weissler:02]‡ Robert Weissler: APA Program Training on Cost Sharing Buy-In Payments; Transfer Pricing Report 533, Feb.2002. [WeisslerEa:02]‡ Robert Weissler et al.: CostSharing Workshop: Buy-in Payments; www.irs.gov/pub/irs- apa/study_guide_exhibit_e.pdfl>, Aug.2002. Six valuation methods explained. Deals with small sales & royalties/(in guidance/references/Weissler, also CSA slides, also in WT MA-695.) Refers to [Morgan:99]‡ [Wells:97] William D. Wells: Measuring advertising effectiveness, Lawrence Erlbaum Publishers, 1997. No quantification. Much based on retention in memory. Recognition up to 10 years. [Wessel:11] David Wessel: U.S. Firms Shift Hiring Abroad; Wall Street Journal, 19 April, 2011. [Wessner:08] Charles W. Wessner (ed.): An Assessment of the Small Business Innovation Research (SBIR) Program; NRC, NAS, 2008. [West:11] Darrell M. West, Technology and the Innovation Economy; Governance Studies. The Brookings Institution , 24Oct.2011. The United States spends only 2.8 percent of its federal budget on national research and development as a percentage of GDP. This is less than the 4.3 percent spent by the government in Sweden, 3.1 percent by Japan, and 3.0 percent by South Korea, but higher than that of Germany (2.5 percent), 143 technology workers in the United States as a percentage of the workplace, 33 percent of American employees have science or technology positions. This is slightly less than the 34 percent figure for the Netherlands and Germany, but higher than the 28 percent in France and Canada,.[xi] [ix] Michael Arndt: “Ben Franklin, Where Are You?” Business Week, Jan.4, 2010, p. 29. [x] Organisation for Economic Co-Operation and Development, Science and Technology Statistical Compendium, 2004. [xi] Organisation for Economic Co-Operation and Development, Science and Technology Statistical Compendium, 2004. [WestG:12] Darrell M. West and Ashley Gabriele: Ten Leadrship Lessons from Simpson-Bowles, ; Governance Studies. The Brookings Institution, Nov, 2012. [WEX:13] Legal Information Institute: Legal Dictionary and Legal Encyclopedia; Cormell University, 2013, regularily updated, [Wiederhold:13c] Gio Wiederhold: Computing does not support its infrastructure; CACM Sigmod Blog, 15 Nov..2013, 145 Transfer pricing is important, Requires substantial enforcement resources. Aggressive income shifting. Temp regs finalized 2011. New hires, and new position Danilack. Focuss on royalty payment. Core intangibles. Describes ex-ante income method. Only two cases litgated in last couple of years. Bureaucratic answers. Mentions copyrights for high tech. Struggling with intangible property rights. Riskyness is in the equation. No herky-jerky canges to the tax law. [WilliamsF:06] Jonathan Williams and Patrick Fleenor: Options for Reforming the U.S. Corporate Income Tax; Fiscal Facts No.58, the Tax Foundation, 8 May 2006. The 2005 Bush BAT plan. Problem of retained earnings. [Willis:09]‡ Andrew Willis: Commission finance experts the same bankers that caused the crisis; EUobserver.com, 11 May 2009. [Wills:99] John Wills: Foreign Company Comparables: How Reliable? Tax Management Transfer Pricing Report, Vol.8 no.11, 29 Sep.1999, p.493-499. Accounting differences in foreign countries Germnay, singapore, US-UK, US-Japan [VIC Chap5.3.4.1]. [Wills:05] John Wills: Restoring the U.S. Concept of Intangibles, Tax Notes International, Vol.37 no.6, 7 Feb.2005, pp.495-499. Intangibles, Real and Imagined, the role of tacit know-how. The arm’s- length fiction is often hard to maintain. [VIC Chap.3.3.3.2] [Wills:11] John Wills: The Competitive Advantage Period as a Measure of Economic Life; BNA Tax Management Transfer Pricing Report Analysis, 1 Dec.2011. Have paper. First-to-market. [WillsB:06] John Wills and Lonnie Brist: The Econmic Flaw in the Investor Model; BNA Tax Management Transfer Pricing Report Perspective, 27 Sep.2006. Have paper. E&Y econmists critique of Platform Contribution (PCT) model in 1-482-7(g) regulations. mentions alternatives to intangibles frequently, but is not specific. [VIC Chap3.3] [Wilson:97]† Mike Wilson: The Difference Between God and Larry Ellison; William Morrow Co., 1997. [Wilson:89] James Q. Wilson: Bureaucracy; Basic Books, 1989. Updates [Weber:68]‡. Very symphathetic and insightful. But simplifies the IRS’ situation. [Wilson:99]‡ John D. Wilson: “Theories of Tax Competition”; National Tax Journal 1999, Vol.52, pp.269- 304. [Wilson:05]‡ John D. Wilson: “Tax Competition with and without Preferential Treatment of a Highly- Mobile Tax Base”; in J. Alm, J. Martinez-Vazquez, and M. Rider (eds.): The Challenges of Tax Reform in a Global Economy, Springer, 2005. From Monetary System (the “Stiglitz Commission”) mentioned a financial services tax as a way of providing.more stable and sustainable development finance that.would also help to stabilize markets. The tax would be automatically collected at the exchanges and borne equally by buyers and sellers using the.electronic settlement systems. Between 0.01%-0.1%. [Wipo:11] About WIPO: What is Intellectual Property?; United Nations, World Intellectual Property Organization, established 1967, Geneva, 147 [Worldwide:12] Worldwide-tax: Key Data on World Taxes; www.worldwide-tax.com, last accessed 24 March 2012. [WTB:00] OTPR: World Tax Database; Office of Tax Policy Research, Uni. Of Michigan, 2000, XXXXXXXX [Xing:11] Yuqing Xing: How the iPhone widens the US trade deficit; VOX, 10 April 2011, YYYYYYYYYYYYY [Yablon:10]‡ Jeffrey L. Yablon: Avoidance, Evasion, and Planning. Tax Analysts, Sep.2010. Quotes. [Yamamura:12] K. Yamamura: Changing corporate tax rules; Sacramento Bee, 15 Oct.2012. [Young:93] Alwyn Young: “Invention and Bounded Learning by Doing”; Journal of Political Economy, Vol.101 no.3, Jun.1993, pp.443–472. Focus on production costs, not IP. [YoungV:11] Christobal Young and Charles Varner: Millionaire Migration and State Taxation of Top Incomes: Evidence from a Natural Experiment; National Tax Journal, Jun2011, Vol.64 no.2, part 1, pp.255–284. People stay put. [VIC Chap.10.9-G10] [ZZZZZZZZZZZZZ [Zachary:94] G. Pascal Zachary: Show Stopper! The Breakneck Race to Create Windows NT and the Next Generation at Microsoft; Free Press, 1994. Recommended by James M. Kaplan for business- technology. Developing a new commercial operating system is a monumental undertaking, requiring not only big technology bets, but also the coordinated effort of thousands of business analysts, technical architects, developers, testers, product managers, marketers, and others. Zachary’s book provides an all-but-unique window into the mechanics of a complicated, expensive, multiyear development effort. It also recognizes that such efforts are as much human events as technological ones, with developers and managers anxious to advance their careers, terrified about making the wrong architectural choices, terrified that the code just won’t work, and exhausted by hours required to shipping deadlines. The Cuckoo’s Egg: Tracking a Spy Through the Maze of Computer Espionage; Doubleday, 1989. Stoll’s account of tracing a 75-cent accounting anomaly back to a KGB-funded, German spy ring introduced many of us who grew up in the 1980s to the idea of information security. It provides an invaluable reminder that protecting sensitive information depends far more on the ability to ask intelligent questions than on the latest and most loudly promoted security tools. It also provides a fascinating introduction to the process of security forensics. [Zadrony:06] Wlodek Zadrony: "Leveraging the Power of Intangible Assets"; MIT Sloan Management Review, Vol48. No.1, Fall 2006, reprint #48117. Ignores Software, but cites that info is in corporate DBs and can be mined. In TT-IP/worth references.[VIC Chap.3] [Zeidman:11] Bob Zeidman: The Software IP Detective's Handbook, Measurement, Comparison, and Infringement Detection; Prentice Hall, Pearson Publishing, 2011.[VIC Chap.5.3.3] [Zembar:11] Tom Zembar: When corporations avoid paying Taxes, public education gets shortchanged; National Education Association, 7 Nov.2011. [Zerbe:10] Dean Zerbe: IRS Audits Small Biz More, Big Guys Less; Expert View, FORBES.com, 11 April 2010. Hour benefit per hour audit in LMSB is $9,354. Audit rate 25%. The IRS should also tell more. [Zheng:] Tracey Zheng: Overview of Transfer Pricing Guidelines; Chapter 11 in William Kastner: Doing Business in Washington State. [VIC Chap.4] [Zima:07] Patricia Zima, Mohawk College: “Goodwill and Other Intangible Assets; Chapter 12 in: Intermediate Accounting, 8th ed; Wiley Canada, 2007. [Zipf:49]† George K. Zipf: Human Behavior and the Principle of Least Effort; Addison-Wesley, 1949. [Zollo:10] Thomas M. Zollo: “Clarification or Modification? The Tax Treatment of the Outbound Transfer of Goodwill, Going Concern Value, and Workforce in Place to a Foreign Corporation”; Tax Mgmt. Int’l J., Vol. 39, Feb. 12, 2010, p. 71. [VIC Chap. 3.3-3.8]. While he makes an argument that work- force in place is not taxable IP in an export, it solidifies the position that know-how is distinct (in my opinion) [Zoromé:87] Ahmed Zoromé: Concept of Offshore Financial Centers: In Search of an Operational Definition; International Monetary Fund, IMF Working Paper/07/87, <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<< . 149 . .