Number: RL31574
Title: International Tax Provisions of the American Competitiveness and Corporate Accountability Act (H.R. 5095)
Authors: David L. Brumbaugh, Government and Finance Division 
Abstract: The American Competitiveness and Corporate Accountability Act (ACCAA; H.R. 4095) contains several provisions designed to restrict corporate tax shelters. The balance of the bill, however, contains a broad range of proposals for taxation of income from international transactions and is this report's focus. The scope of H.R. 5095 is broad, touching almost every area of U.S. international taxation, from export profits to overseas subsidiary firms, to the foreign tax credit, to foreign parent corporations chartered in tax havens. Accordingly, this report begins by describing the basic structural features of the U.S. international tax system.
Pages: 29
Date: Updated September 20, 2002