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| U.S. Senate Committee on Homeland Security and Governmental Affairs |
| Permanent Subcommittee on Investigations |
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| Title: Dividend Tax Abuse: How Offshore Entities Dodge Taxes On U.S. Stock Dividends |
| Date: 9/11/08 |
| Time (EST): 9:00 AM |
| Place: Dirksen Senate Office Building, Rm. 106 |
| The Permanent Subcommittee on Investigations has scheduled a hearing, "Dividend Tax Abuse: How Offshore Entities Dodge Taxes On U.S. Stock Dividends," on Thursday, September 11, 2008, at 9:30 a.m., in Room 106 of the Dirksen Senate Office Building. The Subcommittee hearing will examine how some financial institutions have designed, marketed, and implemented transactions to enable foreign taxpayers, including offshore hedge funds, to dodge millions of dollars of taxes on U.S. stock dividends. The hearing will also examine whether current law relating to dividend taxation and withholding should be strengthened. The Subcommittee expects to issue a Subcommittee staff report in conjunction with the hearing summarizing its investigative findings and recommendations. Witnesses will include representatives of U.S. financial institutions, offshore hedge funds, a tax expert, and the Internal Revenue Service. A witness list will be available Monday, September 8, 2008.
Exhibits 1 - 34 |
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| Hearing
File: REPORT - DIVIDEND TAX ABUSE (9/11/08) |
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| Member
Statements |
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| Witnesses
Testimony
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Panel 1
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REUVEN S. AVI-YONAH
[View
PDF]
, Irwin I. Cohn Professor of Law
, University of Michigan School of Law
, Ann Arbor, Michigan |
Panel 2
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JOSEPH M. MANOGUE
[View
PDF]
, Treasurer
, Maverick Capital, Ltd.
, Dallas, Texas |
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RICHARD POTAPCHUK
[View
PDF]
, Director of Treasury and Finance
, Highbridge Capital Management LLC
, New York, New York |
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GARY I. WOLF
[View
PDF]
, Managing Director
, Angelo, Gordon & Co.
, New York, New York |
Panel 3
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JOHN DEROSA
[View
PDF]
, Managing Director, Global Tax Director
, Lehman Brothers Inc.
, New York, New York |
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MATTHEW BERKE
[View
PDF]
, Managing Director and Global Head of Equity Risk Management
, Morgan Stanley & Co.
, New York, New York |
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ANDREA LEUNG
, Global Head of Synthetic Equity Finance
, Deutsche Bank AG
, New York, New York |
Panel 4
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THE HONORABLE DOUGLAS H. SHULMAN
[View
PDF]
, Commissioner
, Internal Revenue Service
, Washington, D.C. |
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