The following resources support the findings and data described in other Business Roundtable fact sheets regarding deferral and other international tax issues.
Worldwide American Companies Provide Many Benefits for American Workers and the American Economy
Kevin B. Barefoot and Raymond J. Mataloni, Jr., “U.S. Multinational Companies: Operations in the United States and Abroad Preliminary Results from the 2009 Benchmark Survey,” Survey of Current Business, November 2011.
Business Roundtable, “The United States Economy Depends on Worldwide American Companies,” July 2009.
Matthew J. Slaughter, “How U.S. Multinational Companies Strengthen the U.S. Economy,” Business Roundtable and the United States Council Foundation, Spring 2009.
Mark E. Doms and J. Bradford Jensen, “Comparing Wages, Skills, and Productivity between Domestically and Foreign-Owned Manufacturing Establishments in the United States,” in Robert E. Baldwin, Robert E. Lipsey, and J. David Richardson (eds.), Geography and Ownership as Bases for Economic Accounting, 1998.
Carol Corrado, Paul Lengermann, and Larry Slifman, “The Contribution of Multinational Corporations to U.S. Productivity,” Finance and Economics Discussion Series Paper 2007-21, Federal Reserve Board, February 9, 2007.
Mihir Desai, C. Fritz Foley, and James R. Hines, Jr., “Domestic Effects of the Foreign Activities of US Multinationals,” American Economic Journal: Economic Policy, February 2009.
Organization for Economic Cooperation and Development, Open Markets Matter: The Benefits of Trade and Investment Liberalization, 1998.
Mihir Desai, C. Fritz Foley, and James R. Hines, Jr., “Foreign Direct Investment and the Domestic Capital Stock,” National Bureau of Economic Research Working Paper no. 11075, January 2005.
Martin Feldstein, “Taxes, Leverage and the National Return on Outbound Foreign Direct Investment,” National Bureau of Economic Research Working Paper no. 4689, March 1994.
Foreign Operations of Worldwide American Companies Boost Foreign Sales
Kevin B. Barefoot and Raymond J. Mataloni, Jr., “U.S. Multinational Companies: Operations in the United States and Abroad Preliminary Results from the 2009 Benchmark Survey,” Survey of Current Business, November 2011.
Bureau of Economic Analysis, U.S. Department of Commerce, “U.S. Direct Investment Abroad: Preliminary Results from the 2009 Benchmark Survey,” Table I.A2. Service industries include utilities, wholesale and retail trade; information; finance and insurance; professional, scientific and technical services; transportation and warehousing; real estate and rental and leasing; management; administration, support and waste management; health care and social assistance; accommodation and food services; and miscellaneous services.
National Foreign Trade Council, The NFTC Foreign Income Project: International Tax Policy for the 21st Century, 2001, p. 12.
United Nations Conference on Trade and Investment, World Investment Report, 2011.
International Tax: A Primer
Business Roundtable, Taxation of American Companies in the Global Marketplace: A Primer, April 2011.
PwC, Worldwide Tax Summaries online database. Worldwide countries in the OECD are Chile, Greece, Ireland, Israel, Korea, Mexico, Poland, and the United States. Exemption countries in the OECD are Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Iceland, Italy, Japan, Luxembourg, Netherlands, New Zealand, Norway, Portugal, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom.
Deferral Supports the Competitiveness of U.S.-Based International Companies and Their Workers
European Commission, Taxation Trends in the European Union, 2011 Edition.
Case Study: Elimination of Deferral Sank American Shipping Industry
For a summary of these events and the recent revival of the domestic industry following enactment of the 2004 legislation, see Ken Kies, “A Perfect Experiment: ‘Deferral’ and the U.S. Shipping Industry,” Tax Notes, September 10, 2007, p. 997.
Providing the Facts: Foreign Investment by U.S.-Based Companies Expands the U.S. Economy
Mihir Desai, C. Fritz Foley, and James R. Hines, Jr., “Domestic Effects of the Foreign Activities of US Multinationals,” American Economic Journal: Economic Policy, February 2009.
Organization for Economic Cooperation and Development, Open Markets Matter: The Benefits of Trade and Investment Liberalization, 1998.