Should the U.S. tax SWFs?

Ashby Monk

I’m not a Law Professor, so I can’t really say. However, Matthew Melone is a Law Professor, and he just published this paper on the subject:

“These funds are entitled to a tax exemption, not available to private investors, because they are owned by foreign sovereigns. Foreign governments have enjoyed some form of tax exemption in the United States for almost a century. The exemption, informed by notions of sovereign immunity, has generated little controversy until recently. This exemption, however, has now become a subject of debate by tax professionals. More importantly, Congress has recently taken an interest in the taxation of sovereign wealth funds.”

You should also read Vic Fleischer’s paper for a different view on the subject…

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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