From creditor to debtor: the U.S. pursuit of foreign capital - the case of the repeal of the withholding tax
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
New York u.a.
Garland
1994
|
| Series: | Foreign economic policy of the United States
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XXXVI, 414 S. graph. Darst. |
| ISBN: | 0815315651 |
Staff View
MARC
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Record in the Search Index
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|---|---|
| adam_text | Contents
Acknowledgments xi
Preface xiii
Tables xxxiii
Charts xxxiv
ABBREVIATIONS xxxv
I. Introduction 3
A: PURPOSE AND METHODOLOGY OF THE
RESEARCH 3
1. The Repeal and Policy Analysis 3
2. Relationship to Political Science and International
Political Economy 6
3. The Eurocurrency and Eurobond Markets: Basic
Terminology 7
B: GENERAL BACKGROUND ON THE EUROBOND
MARKET 9
1. Origins 9
2. The Eurobond Market and the International Finance
Subsidiaries: General Features 11
3. U.S. Companies Use of the Eurobond Market .... 12
II. Initiation: the Road to the Hearing 19
A: PROBLEM RECOGNITION 19
1. Taxes and the Eurobond Market 19
2. The Repeal of the Withholding Tax 20
3. The U.S. Netherlands Antilles Tax Treaty: The
Investor s Use of the Treaty 22
4. The Borrower s Use of the Treaty 24
5. The Internal Revenue Service Position 25
vii
viii From Creditor to Debtor
6. Exceptions to the Thirty Percent Tax on Interest Other
Than Those Originating from Tax Treaty 28
7. Tax Treaty Exemptions 29
B. GENERATION OF ALTERNATIVES 30
1. Proposals Previous to the 98th Congress 30
2. Proposals Considered by the 98th Congress 31
3. The Proposals Before Congress on April 11, 1984 . . 31
4. Congress s Options 38
III. Estimation: Congress Looks at the Alternatives 47
A. THE MAY 1984 HEARING: AN ANALYTICAL
SUMMARY 47
1. The Government Witnesses 48
2. Transnational Interest Groups 73
3. Domestic Interest Groups 86
4. Summing Up the Main Interest Groups Position ... 99
5. The Differences between the 1984 and the 1976
Hearings 106
IV. Selection: Congress Approves the Repeal 117
A. THE REPEAL OF THE THIRTY PERCENT TAX ON
INTEREST PAID TO FOREIGNERS 117
1. Scope of the Legislation 117
2. The Repeal and the Secretary 121
V. Implementation: The Complex World of Treasury Regulations 125
A. TREASURY REGULATIONS: COMPLIANCE AND TAX
EVASION 125
B. BEARER DEBT: SEC REGULATIONS;
CONGRESSIONAL CONCERNS AND THE FEDERAL
GOVERNMENT DEFICIT 129
1. The SEC Regulations 130
2. Congressional Concern and the Federal Government
Deficit 130
C. FURTHER REGULATORY LIMITATIONS TO THE
SCOPE OF THE REPEAL LEGISLATION:
REGISTRATION REQUIRED OBLIGATIONS 134
Contents ix
D. THE IRS REVENUE RULINGS OF OCTOBER 15,1984:
THE CONTINUATION OF THE UNCERTAINTY OVER
U.S. CORPORATIONS USE OF THE NETHERLANDS
ANTILLES 137
E. THE REPEAL LEGISLATION AND ITS
IMPLEMENTATION: SUMMING UP 142
F. MORE RECENT DEVELOPMENTS 149
G. TREASURY AND CRISIS DECISION MAKING 150
1. The Events Leading to the Summer of 1987 Crisis . 150
2. The NA Treaty Termination: A Ten Days Crisis . . 155
3. The Crisis under Analytical Scrutiny 160
VI. Evaluation: The Impact of the Repeal 183
A. THE NEED FOR CAPITAL 183
1. The Federal Debt 183
2. The Corporate and Household Debt 187
B. THE U.S. BALANCE OF PAYMENTS AND
INVESTMENT POSITION 193
1. Macro economic Policy Coordination 198
2. The Years after the End of the Bretton Woods
System 207
3. Cooperation and the Repeal 221
C. THE U.S. NET INVESTMENT POSITION 223
D. THE UNITED STATES AS A DEBTOR NATION ... 226
E. U.S. ATTITUDES TOWARD FOREIGN INVESTMENT 231
F. THE POINT OF VIEW OF THE FOREIGN INVESTOR 236
G. THE REPEAL AND THE EUROBOND MARKET ... 244
H. FEDERAL BORROWING AND THE REPEAL 256
I. TERMINATION: COULD THE WITHHOLDING TAX BE
REINSTATED? 270
CONCLUSION 299
Appendix A 305
THE 1984 HEARING ON TAX TREATMENT PAID TO
FOREIGN CORPORATIONS : ADDITIONAL
TESTIMONIES AND SUBMISSIONS FOR THE RECORD:
A SUMMARY 305
x From Creditor to Debtor
Appendix B 347
THE 1976 HEARING ON FOREIGN PORTFOLIO
INVESTMENTS IN THE UNITED STATES 347
Appendix C 363
Bibliography 383
OFFICIAL PUBLICATIONS 383
REFERENCES 384
Index 407
|
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| era_facet | Geschichte 1976-1987 |
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| physical | XXXVI, 414 S. graph. Darst. |
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| spelling | Ammendola, Giuseppe 1957- Verfasser (DE-588)138225400 aut From creditor to debtor the U.S. pursuit of foreign capital - the case of the repeal of the withholding tax Giuseppe Ammendola New York u.a. Garland 1994 XXXVI, 414 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Foreign economic policy of the United States Geschichte 1976-1987 gnd rswk-swf Steuer Debts, Public United States Interest Taxation United States Investments, Foreign Taxation United States Withholding tax United States Kapitalertragsteuer (DE-588)4163265-5 gnd rswk-swf Auslandsinvestition (DE-588)4003772-1 gnd rswk-swf Gesetzgebung (DE-588)4020682-8 gnd rswk-swf USA USA (DE-588)4078704-7 gnd rswk-swf USA (DE-588)4078704-7 g Auslandsinvestition (DE-588)4003772-1 s Kapitalertragsteuer (DE-588)4163265-5 s Gesetzgebung (DE-588)4020682-8 s Geschichte 1976-1987 z DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006383015&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Ammendola, Giuseppe 1957- From creditor to debtor the U.S. pursuit of foreign capital - the case of the repeal of the withholding tax Steuer Debts, Public United States Interest Taxation United States Investments, Foreign Taxation United States Withholding tax United States Kapitalertragsteuer (DE-588)4163265-5 gnd Auslandsinvestition (DE-588)4003772-1 gnd Gesetzgebung (DE-588)4020682-8 gnd |
| subject_GND | (DE-588)4163265-5 (DE-588)4003772-1 (DE-588)4020682-8 (DE-588)4078704-7 |
| title | From creditor to debtor the U.S. pursuit of foreign capital - the case of the repeal of the withholding tax |
| title_auth | From creditor to debtor the U.S. pursuit of foreign capital - the case of the repeal of the withholding tax |
| title_exact_search | From creditor to debtor the U.S. pursuit of foreign capital - the case of the repeal of the withholding tax |
| title_full | From creditor to debtor the U.S. pursuit of foreign capital - the case of the repeal of the withholding tax Giuseppe Ammendola |
| title_fullStr | From creditor to debtor the U.S. pursuit of foreign capital - the case of the repeal of the withholding tax Giuseppe Ammendola |
| title_full_unstemmed | From creditor to debtor the U.S. pursuit of foreign capital - the case of the repeal of the withholding tax Giuseppe Ammendola |
| title_short | From creditor to debtor |
| title_sort | from creditor to debtor the u s pursuit of foreign capital the case of the repeal of the withholding tax |
| title_sub | the U.S. pursuit of foreign capital - the case of the repeal of the withholding tax |
| topic | Steuer Debts, Public United States Interest Taxation United States Investments, Foreign Taxation United States Withholding tax United States Kapitalertragsteuer (DE-588)4163265-5 gnd Auslandsinvestition (DE-588)4003772-1 gnd Gesetzgebung (DE-588)4020682-8 gnd |
| topic_facet | Steuer Debts, Public United States Interest Taxation United States Investments, Foreign Taxation United States Withholding tax United States Kapitalertragsteuer Auslandsinvestition Gesetzgebung USA |
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