Document Entitled “Background And Selected Issues Related To The U.S. International Tax System And Systems That Exempt Foreign Business Income” Published

The Joint Committee on Taxation has published a document entitled “Background and Selected Issues Related to the U.S. International Tax System and Systems That Exempt Foreign Business Income.” (JCX-31-11) The document is divided into three sections: (1) Present Law: Worldwide Taxation and Deferral of Active Business Income; (2) Territorial System; and (3) Territorial Systems of Selected Countries. The countries discussed in the third section include Australia, Canada, France, Germany, Japan, Netherlands, Spain, Switzerland, and the United Kingdom. The document is located at http://www.jct.gov/publications.html.