Chaos Threat May Spur Global Effort on Digital Tax: OECD Official (1)

The specter of chaos could prompt countries to collaborate on digital taxes, an OECD official suggests; companies now have a challenging time moving assets outside of the U.S. without paying tax, an official says; Treasury Department aims to release guidance on ordering of different types of previously taxed income in U.S. tax calculation; a Treasury official says companies are wanting to record Subpart F income to achieve a better tax result; and top congressional tax aides see next year’s committee agendas driven by oversight of the tax overhaul and of how the tax system is working overall.

Tax executives, government ...