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The International Tax Revolution offers the first comprehensive analysis of the profound changes in international taxation over the past decade, culminating in the landmark October 2021 agreement by over 140 countries to implement a global corporate minimum tax and modify profit allocation and nexus rules for the digital economy. The book provides a historical narrative of how the original International Tax Regime (ITR) crumbled under the pressures of globalization and tax competition between 1980 and 2008, and how the financial crisis of 2008-2010 and subsequent cuts to social welfare programs spurred governments to adopt new approaches to taxing multinational corporations. Chapters explore the impact of globalization and tax competition on countries' ability to provide a social safety net for their citizens, and outline how the world has come together to limit such competition, modify the outdated rules, and promote greater equity in the global tax system.
List of contents
Introduction: the international tax revolution, 2008-2023; 1. The ancien régime, 1923-1979; 2. The decline of the ancien régime, 1980-2008; 3. The beginnings of the new regime, 2008-2010; 4. The early revolution and its limits, 2010-2015; 5. The new regime and the digital economy, 2016-2023; 6. The new regime and the global tax, 2016-2023; 7. The future of the new regime; 8. Evolution or revolution?.
About the author
Reuven S. Avi-Yonah is the Irwin I. Cohn Professor of Law and director of the International Tax LL.M. Program at the University of Michigan. He specializes in corporate and international taxation.
Summary
Examines the transformation of international taxation over the past decade, including the global corporate minimum tax and revenue reallocation rules. It explores the old International Tax Regime (ITR)'s challenges by globalization, tax competition, and digitalization and explains how the world is addressing them with the new ITR.
Foreword
Explores the collapse of the old International Tax Regime in 1980 and the emergence of new regime in 2010.
