July 24, 2014

Corporate Tax Evaders Focus of G-8 Nations

As the economy has been slow to rebound in the past few years, many have turned their attention to issues of corporate taxation. While some claim that cutting corporate taxes in the U.S. is key to sparking growth, particularly among small businesses, others have been vocal about closing tax loopholes that allow larger corporations to avoid paying their fair share. At the recent G-8 summit in Northern Ireland, leaders pledged to crack down on corporations that engage in questionable tax practices.

Many experts see the problem of collecting corporate taxes as fundamental to the health of the overall economy. In order to make foster a low-tax environment that promotes business growth, it is necessary to collect the taxes that are due.

One difficulty is deciding on how to implement any plan that would help governments all over the world to determine whether a corporation is paying the right amount of taxes. At least one group has suggested the creation of a central corporate registry that would make it particularly difficult for companies to hide assets in foreign shell corporations.

Of course, businesses in the U.S. and elsewhere are likely to oppose any such plan. Global corporations move money from entity to entity, they argue, for legitimate reasons. Any tax benefits gained are well within the boundaries of the law. Focusing only on corporate tax issues is not likely to solve underlying problems in the tax code. These efforts also do nothing to fix the fact that the U.S. has particularly high corporate tax rates that make it expensive for companies to do business here. 

Source: NPR, “G-8 Nations Pledge to Crack Down on Corporate Tax Evaders,” Jim Zarroli, June 19, 2013

© 2014 by McBrayer, McGinnis, Leslie & Kirkland, PLLC. All rights reserved.

About the Author

The established law firm of McBrayer, McGinnis, Leslie & Kirkland, PLLC, provides solid solutions and powerful advocacy for complex legal problems. More importantly, we handle these matters efficiently and effectively. Our clients are consistently impressed with our immediacy in dealing with the substance of their legal issues, not to mention our positive results.

With offices in Lexington, Louisville, Frankfort and Greenup, Kentucky, and Washington, D.C., we serve businesses and professionals statewide in Kentucky and in surrounding states. Our long...


Boost: AJAX core statistics

Legal Disclaimer

You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's  Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on are intended for general information purposes only. Any legal analysis, legislative updates or other content and links should not be construed as legal or professional advice or a substitute for such advice. No attorney-client or confidential relationship is formed by the transmission of information between you and the National Law Review website or any of the law firms, attorneys or other professionals or organizations who include content on the National Law Review website. If you require legal or professional advice, kindly contact an attorney or other suitable professional advisor.  

Some states have laws and ethical rules regarding solicitation and advertisement practices by attorneys and/or other professionals. The National Law Review is not a law firm nor is  intended to be  a referral service for attorneys and/or other professionals. The NLR does not wish, nor does it intend, to solicit the business of anyone or to refer anyone to an attorney or other professional.  NLR does not answer legal questions nor will we refer you to an attorney or other professional if you request such information from us. 

Under certain state laws the following statements may be required on this website and we have included them in order to be in full compliance with these rules. The choice of a lawyer or other professional is an important decision and should not be based solely upon advertisements. Attorney Advertising Notice: Prior results do not guarantee a similar outcome. Statement in compliance with Texas Rules of Professional Conduct. Unless otherwise noted, attorneys are not certified by the Texas Board of Legal Specialization, nor can NLR attest to the accuracy of any notation of Legal Specialization or other Professional Credentials.

The National Law Review - National Law Forum LLC 4700 Gilbert Ave. Suite 47 #230 Western Springs, IL 60558  Telephon