Daniel M. Berman, a speaker at the marcus evans Tax Officers Summit XII 2011, on the corporate and international tax reforms that lie ahead. Interview with: Daniel M. Berman, Professor of the Practice of Tax Law and Director, Graduate Tax Program, Boston University School of Law

1. November 10-12, 2011 | Red Rock Casino • Resort • Spa | Las Vegas | NV
Preparing for US Tax Reforms
Daniel M. Berman, a speaker at the marcus evans Tax Officers Summit XII 2011, on the
corporate and international tax reforms that lie ahead.
Interview with: Daniel M. Berman, Professor of the Practice of Tax Law and Director,
Graduate Tax Program, Boston University School of Law
FOR IMMEDIATE RELEASE
“The current US tax system cannot continue the way it is,” more efficient, more net revenue can be collected and more
says Daniel M. Berman, Professor of the Practice of Tax Law business activity generated without raising tax rates.
and Director, Graduate Tax Program, Boston University School
of Law. The performance of the economy and the budget No Tax Officer is happy with the current system. It has a lot of
deficit are such that significant tax reforms are highly likely, in-built structural inefficiencies and compliance has become a
Berman adds. major burden. The system needs to be streamlined.
Ahead of the marcus evans Tax Officers Summit XII 2011 in How will international tax policies change?
Las Vegas, Nevada, November 10-12, Berman talks about the
current tax system, and what changes to corporate and Daniel M. Berman: The idea of changing from a worldwide to
international taxes he anticipates. a territorial tax system has been developing a lot of interest
for a while.
What changes to the US taxation system do you anticipate in
the next few years? At present, a US-based multinational corporation pays taxes in
the US on its worldwide income as well as taxes in the other
Daniel M. Berman: The US budget deficit is so great, that it is countries it operates in, with a credit here for taxes paid
highly likely that there will be major tax reform. The current elsewhere. And income and taxes of a foreign subsidiary
system can no longer continue the way it is. I expect corporate generally are deferred until the profits are brought home. Our
and international taxes to change, including the international system does not take international activities into account
aspects of US corporate taxation. in a simple way.
This will be a major effort in Washington, and the Many companies have proposed that the US economy would
participation of American businesses will be important. Tax be better off if we switched to a territorial system, only taxing
Officers need to stay informed and participate in the process, income earned in the US, with income earned elsewhere
through professional and trade associations and perhaps a neither taxed nor credited. This sounds simple but it puts
Washington office of their own company. There are many pressure on identifying the boundaries for taxation.
opportunities to get involved in the process and help design
a new system. It is not clear how simple a territorial system would be, but a
lot of work is going into developing a system that could work
Would corporate taxes increase? successfully. However, the winners and losers in a territorial
system would not be the same as in the current system, which
Daniel M. Berman: Not necessarily. The basic idea is to make of course has political consequences.
the tax system more suitable for the economy. If it becomes
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2. November 10-12, 2011 | Red Rock Casino • Resort • Spa | Las Vegas | NV
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About the Tax Officers Summit XII 2011
This unique forum will take place at Red Rock Casino, Resort & Spa, Las Vegas, Nevada, November 10-12, 2011.
Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed
industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit
includes presentations on coping with the evolving tax world, gaining insight into uncertain tax position statements and
enabling tax reform that will work.
For more information please send an email to info@marcusevanscy.com or visit the event website at
www.taxofficerssummit.com
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