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Tax Cannibalization by State Corporate Taxes: Policy Implications
Get PDFThe tax cannibalization problem is especially large for state corporate income taxes because state governments piggyback on a deeply flawed federal corporate tax base. In this article, we clarify a point of possible confusion about these issues and then discuss some policy implications
The Current System of Resolving Insurance Disputes in Saudi Arabia: Its Weaknesses and Ways of Developing It
Get PDFInsurance industry generally revolves around financial risks, and the business of insurance companies is reliant on the resolution of claims that arise from these risks associated with insurance policies. In fact, insurance companies routinely adjust claims and provide indemnities to the insureds or beneficiaries. In some cases, however, the resolution of claims may falter, resulting in disputes that involve conflicting views between the insurer and insured on the eligibility of indemnity. Hence, this requires the existence of an effective and smooth mechanism that guarantees the end of such conflicts and protects the rights of the parties involved in insurance contracts.
Noting this significance, the Saudi legislature created a mechanism for resolving insurance disputes in 2003, represented by the current Insurance Dispute Committees that operate within the framework of the Saudi Arabian Monetary Authority (SAMA). This initiative has made substantial achievements in supporting the insurance industry in the Kingdom. It has also considerably increased the confidence of individuals in engaging in the insurance contract, especially when compared to the previous period when insurance disputes were resolved through the efforts of the Ministry of Commerce and mandatory arbitration.
Despite the achievements and the progress made by the existing mechanism, this dissertation focuses on reevaluating it, and discussing whether it can be amended to keep pace with future developments of the insurance sector in light of the Kingdom\u27s Vision 2030. Specifically, this study explores the challenges facing the current mechanism and the effects of these challenges on either the Insurance Committees or litigants. The study then examines the proposed steps to overcome these challenges within the framework of the Saudi legal system, which is fundamentally based on the principles of Sharia
Passport to Plastics: Cosmetic Surgery Tourism, Medical Malpractice, and the Automatic Establishment of Personal Jurisdiction by Way of the Joint Commission International
Get PDFFor centuries, tourists have visited lands near and far in search of experiences unavailable in their home countries. From golfing the best courses in the world, to yoga retreats in remote locations, many tourist activities provide experiential opportunities along with health and wellness benefits. Currently, an increasing number of individuals are opting to cross international borders to receive medical treatments, often at reduced costs. While many scholars use the term health tourism to encompass all health and wellness travel purposes, this note uses the term medical tourism to distinguish tourism for the specific purpose of medical treatments or procedures. Medical tourism is considered one of the fastest-growing tourism sectors and is creating significant growth in economies across the globe. Like other developing areas of study, initial studies have only scratched the surface of medical tourism. Rather than analyzing these trends from a different perspective, this note draws on patterns from various nations to propose new methods of protecting patient rights, namely the right to sue in the event of medical malpractice abroad. Specifically, this note will propose the establishment of personal jurisdiction over accredited international healthcare facilities by way of an accrediting US organization. Part I will discuss the origins of medical tourism, explain how and why medical tourism became a booming industry, explore the intersection of medical tourism and medical malpractice, and discuss general principles of jurisdiction. Part II will analyze and compare policies from around the world-including the United States, Brazil, South Korea, and Thailand-concerning medical tourism, cosmetic surgery, and medical malpractice litigation. And finally, Part III will analyze the benefits of and advocate for Joint Commission International (JCI) accreditation, automatically establishing personal jurisdiction over foreign health care providers and facilities for litigants to bring suit in the United States; then provide a secondary proposal of the JCI serving as an appeals board for medical malpractice claims occurring at JCI-accredited healthcare providers
The Law of Toxic Substances and Hazardous Wastes
No full textThe Law of Toxic Substances and Hazardous Wastes is the definitive treatise on federal and state regulation of that special class of pollutants which are the most deadly. It is co-authored by four law professors holding four endowed professorships at four law schools, who have written extensively in this area. The treatise covers the entire range of topics involving legal institutions, statutes, and court cases addressing the growing problem of toxic substances and hazardous wastes. The book explores the question of how to measure and weigh and assess risk, especially in the face of uncertainty, and whether cost-benefit analysis should be used to decide upon an acceptable level of toxic and hazardous pollution. It provides an in-depth analysis of federal statutes designed to regulate toxic substances and insecticides/pesticides. And it considers the two primary hazardous waste prevention and removal statutes –RCRA and CERCLA. Apart from statutory and regulatory analysis, the treatise also includes a chapter on the specialized tort field of common law toxic torts. The treatise is an up-to-date comprehensive summary of the laws, court cases, and issues that arise when legal institutions seek to address the removal and regulation of chemicals and poisons that can do the most damage to humans and living organisms.https://www.repository.law.indiana.edu/facbooks/1226/thumbnail.jp
Understanding Corporate Taxation, 4th edition
No full textThis clearly written treatise is designed to make the complex subject of corporate taxation very accessible. It uses straightforward language, charts, checklists, diagrams, and numerous examples to aid readers’ understanding, and the fourth edition is fully updated for the 2017 tax changes and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Understanding Corporate Taxation also includes discussion of relevant cases. It is designed to supplement any corporate tax casebook or to be used on its own.
The book starts with an introductory chapter that discusses the choice of business form; details the general principle that corporate profits are subject to double taxation (once at the corporate level and again at the shareholder level); introduces the Qualified Business Income deduction; and discusses the basics of anti-abuse rules, such as the step-transaction doctrine. Those anti-abuse rules are explored in more detail in a later chapter, as are proposals to partially or fully eliminate double taxation.
The next several chapters are organized using a cradle-to-grave approach that traces the life cycle of a corporation, beginning with formation and capitalization and ending with liquidation of the corporation. Between those events, the book discusses operational issues, including the capital structure of a corporation, distributions of cash or property, stock redemptions, and stock dividends. After corporate liquidations, the book explores more advanced topics, such as taxable stock or asset acquisitions; non-taxable corporate reorganizations and divisions; the carryover of tax attributes (such as net operating losses) following certain non-recognition transactions; and the treatment of corporate tax shelters. In addition, a chapter addresses the taxation of S corporations, which generally provides a single-tax paradigm. That chapter also discusses the Qualified Business Income deduction in detail, including several examples.https://www.repository.law.indiana.edu/facbooks/1227/thumbnail.jp
Maurice J. Holland (Obituary)
No full textObituary originally published in the Eugene Register-Guard, Jananuary 15 to January 19, 2020
Regulating Multinational Corporations in International Investment Law and Arbitration: Towards Limiting the Treaty Shopping
Get PDFThis study examines the limitations of treaty shopping in international investment law and arbitration by recognizing some steps and factors that states, especially developing states, and arbitral tribunals may consider regarding the purpose and objective of investment agreements and contracting states’ viewpoints. The focus is solely on the multinational corporation as a corporate investor. To understand these limitations, this study has divided the topic through three separate research questions. The first question is how a state can regulate MNCs in a way that limits their ability to practice treaty shopping, whether domestically or internationally via BITs or regional investment agreement, through restriction the substantive protection. The second question provides a proposed new test for the state that wants to curb treaty shopping by reasonably determining the nationality of the investor and drafting the BITs carefully by including the proposed denial of benefits clause. The final question addresses the practical aspects of this study, which are directed to the arbitral tribunals, such as how they can deal with the treaty shopping cases in determining jurisdiction and admissibility under the ICSID convention. At present, these issues are strikingly unsettled while the tribunals hold inconsistent decisions to resolve the previous questions. This study has goals to clear the ambiguity of treaty shopping by proposing several solutions, as the instability and unpredictability in international investment law is unsatisfactory for both states and investors
Mandatory Tax Penalty Insurance
Get PDFIn a mandatory tax penalty insurance regime, taxpayers would be required to find insurers to certify portions of their tax returns. A certifying insurer would be subject to a governmental auditing regime insurers of randomly selected filings would pay an amount equal to the inverse of the selection probability multiplied by the underpayment, or they would receive money from the government in the case of overpayment. The insurers function as private auditors with no incentive to underestimate their customers\u27 tax liability. Such a regime will consume real resources, ultimately paid by taxpayers, and thus should not be imposed universally. But this regime might be especially useful in contexts where valuation is inherently subjective or where inevitable loopholes allow taxpayers to disguise economic substance. For example, if a wealth tax is too easily evaded by undervaluation of assets, a mandatory tax penalty insurance requirementf or certain high-value assets could help. With insurers bearing the risk of penalties, inconsistent treatment of taxpayers should be less of a concern, and tax law can embrace standards in some contexts in which rules would be needed with a conventional enforcement approac
Adjudicatory Jurisdiction and Public International Law and Reasonableness as a Limitation on the Extraterritorial Application of U.S. Law
No full textProfessor Parrish wrote chapter 13, Adjudicatory Jurisdiction and Public International Law, while Professor Buxbaum wrote chapter 12, Reasonableness as a Limitation on the Extraterritorial Application of U.S. Law with Ralf Michaels.https://www.repository.law.indiana.edu/facbooks/1249/thumbnail.jp