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  3. International Tax in the United States

International Tax in the United States (LAWS90234)

Graduate courseworkPoints: 6.25Not available in 2024

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Overview

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US international tax law plays a central role in doing business in the US, and for US investors doing business in Australia. This intensive, applied subject provides tax professionals with an overview of the core rules and new developments in United States income tax for cross-border investments and transactions, in a changing US and global tax world.

The emphasis of the subject will be on equipping you with knowledge about the US Internal Revenue Code, regulations, administrative practices, treaties and leading case decisions on international tax, to support you in providing advice and managing disputes involving cross-border entities, transactions and investments with the United States.

Principal topics will include:

  • US entity classification rules, including check-the-box, and the definition of “foreign” persons
  • Statutory rules for taxation of foreign persons, and taxation of foreign operations of US persons
  • The foreign tax credit
  • Introduction to controlled foreign corporations
  • Introduction to the US rules and key cases for transfer pricing
  • Anti-abuse and the economic substance doctrine
  • US income tax treaties, with a focus on the Australia-US treaty
  • Latest developments and reforms in US international tax

Intended learning outcomes

A student who has successfully completed this subject will:

  • Understand the general structure of US international tax rules
  • Be able to apply the core elements of the US international tax rules to clients doing cross-border business with the United States
  • Understand the US approach to anti-abuse in the Code, economic substance doctrine and treaties, and be able to analyse the potential risk of being exposed to US anti-abuse investigations
  • Have an advanced understanding of the rationale and approaches for the US approach to global tax developments including minimum corporate tax and new approaches to taxing global MNEs
  • Be able to communicate, orally and in writing an explanation, and detailed critical analysis of the relevant cases.
  • Understand and be able to analyse the US engagemnet in the latest developments in tax law at a global level especially the G20-OECD BEPS Project and the Two-Pillar Solution
  • Be able to apply new knowledge in advising clients who are doing business with the United States
  • Understand the United States approach to tax treaties and be able to apply them in advice and analysis

Generic skills

  • Legislative, regulation, treaty and case sources research and analysis skills in US international tax law
  • The ability to understand US international tax policy and latest reforms, enabling application of tax law and treaties in advising clients
  • Written communication skills of a high standard in applying tax law and treaties to problems.

Last updated: 31 January 2024