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Tax Preferences And The Foreign Operations Of The United States Petroleum Industry

Author

Listed:
  • Glenn Jenkins

    (Queen's University, Kingston, On, Canada)

Abstract

This statement outlines some of the economic effects of the present for the taxation of the foreign activities of United States petroleum corporations. The four principal features of this system are the foreign tax credit, the foreign percentage depletion allowance, the deduction of foreign branch losses from United States domestic income, and the special tax treatment of income from tankers. These four tax provisions, in combination, have allowed the petroleum corporations to largely avoid paying any United States tax on their foreign earned income since at least 1962.

Suggested Citation

  • Glenn Jenkins, 1974. "Tax Preferences And The Foreign Operations Of The United States Petroleum Industry," Development Discussion Papers 1974-04, JDI Executive Programs.
    • Handle: RePEc:qed:dpaper:1212
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    More about this item

    Keywords

    Taxation; Foreign operations; Petroleum;
    All these keywords.

    JEL classification:

    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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