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Dividend Tax Abuse: How Offshore Entities Dodge Taxes on U.S. Stock Dividends
Senate Committee on Homeland Security and Governmental Affairs Permanent Subcommittee on Investigations
Senate Committee on Homeland Security and Governmental Affairs
Permanent Subcommittee on Investigations
Abstract
The Senate Committee on Homeland Security and Governmental Affairs' Permanent Subcommittee on Investigations conducted an investigation on offshore dividend tax abuse. The investigation found U.S financial institutions structuring abusive transactions that aided non-U.S. clients to dodge U.S taxes on stock dividends. In addition, the investigation found that offshore hedge funds were frequent participants in abusive dividend tax transactions, leading to billions of dollars in lost tax revenues, and showed the lack of effective action from the Department of Treasury and IRS.
Date
2008-09-11
Document Type
Senate Bipartisan Staff Report
Serial Number
Document Length
88 pages
Congress
110
Relation
DOI
Keywords
Staff Reports, Bipartisan
PAP Major Code
19: International Affairs and Foreign Aid
PAP Minor Code
1906: International Finance and Economic Development