DOWNLOAD ~ Harvard, Hedge Funds, And Tax Havens: Reforming the Tax Treatment of Investment Income Earned by Tax-Exempt Entities. * by Virginia Tax Review ~ eBook PDF Kindle ePub Free
eBook details
- Title: Harvard, Hedge Funds, And Tax Havens: Reforming the Tax Treatment of Investment Income Earned by Tax-Exempt Entities.
- Author : Virginia Tax Review
- Release Date : January 22, 2010
- Genre: Industries & Professions,Books,Business & Personal Finance,
- Pages : * pages
- Size : 404 KB
Description
Educational endowments, private employer-sponsored pension plans, and other tax-exempt organizations (collectively, "tax-exempt entities") invest a substantial amount of capital in various sectors of the economy, and tax consequences can determine whether or not a tax-exempt entity, like any other entity, makes a potential investment. Consequently, the tax treatment of investment income earned by tax-exempt entities can affect significantly the manner in which capital is allocated on an economy-wide basis. The current tax system applies different effective rates of tax to income earned by tax-exempt entities from otherwise comparable investments. This inconsistent tax treatment distorts investment decisions made by such entities. Given the amount of capital invested by such entities, this can result in a less than optimal allocation of capital. In some contexts, the distortion can be mitigated by tax structuring. However, if Congress were to enact legislation currently proposed as part of the Stop Tax Haven Abuse Act, the ability to engage in this tax structuring would be eliminated. Thus, enactment of the proposed legislation would exacerbate the current distortions without providing any offsetting benefits.
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