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July 23, 2007
HP-500

Treasury Releases Business Taxation and
Global Competitiveness Background
Paper

Washington, D.C.--The Treasury Department released today a background paper concerning some of the many issues to be discussed Thursday, July 26 at the Treasury Conference on Business Taxation and Global Competitiveness.

The paper details:    

• the extent to which special provisions narrow the business tax base;
• the importance of the non-corporate sector generally subject to the individual tax rather than the corporate tax;
• the various ways the tax system distorts economic decisions; and
• how the level of U.S. tax compares with our major trading partners (G7, OECD, and emerging market countries). 

 The paper also discusses the U.S. system for taxing international income and examines how that affects business decisions.  A PDF copy of the paper is attached.

REPORTS

• Tax Conference Background Paper