El mundo al revés del capital móvil

BERKELEY – Un creciente número de empresas estadounidenses están tratando de trasladar su sede legal al exterior mediante la adquisición o fusión con empresas extranjeras. En el caso más reciente, Medtronics ha manifestado sus intenciones de adquirir Covidien, una empresa irlandesa mucho más pequeña y escindida de la estadounidense Tyco, con el fin de trasladar su casa matriz a Irlanda, país que cobra impuestos más bajos, culminando así la mayor "inversión" o "redomiciliación" jamás realizada por una empresa de EE.UU. Se dice que Walgreens está considerando trasladar su sede al Reino Unido con la adquisición de las acciones públicas restantes de Alliance Boots, el gigante farmacéutico con sede en Suiza.

Este tipo de tratos refleja las profundas fallas en el sistema del impuestos corporativos de Estados Unidos, que tiene la tasa más alta de los países desarrollados y es el único país del G-7 que se aferra a un sistema tributario obsoleto en el que las ganancias en el extranjero obtenidas por empresas con sede en Estados Unidos deben pagar impuestos nacionales adicionales al ser repatriadas.

En contraste, el resto de países del G-7 ha adoptado sistemas "territoriales" que imponen poco o nada de impuestos nacionales sobre los ingresos repatriados de sus empresas globales. Esta diferencia pone a las multinacionales con sede en Estados Unidos en desventaja frente a sus competidores extranjeros en el exterior. Para compensar esto, las multinacionales estadounidenses aprovechan una opción de diferimiento que contempla la legislación tributaria estadounidense.

To continue reading, please log in or enter your email address.

Registration is quick and easy and requires only your email address. If you already have an account with us, please log in. Or subscribe now for unlimited access.

required

Log in

http://prosyn.org/k3qAL3a/es;
  1. An employee works at a chemical fiber weaving company VCG/Getty Images

    China in the Lead?

    For four decades, China has achieved unprecedented economic growth under a centralized, authoritarian political system, far outpacing growth in the Western liberal democracies. So, is Chinese President Xi Jinping right to double down on authoritarianism, and is the “China model” truly a viable rival to Western-style democratic capitalism?

  2. The assembly line at Ford Bill Pugliano/Getty Images

    Whither the Multilateral Trading System?

    The global economy today is dominated by three major players – China, the EU, and the US – with roughly equal trading volumes and limited incentive to fight for the rules-based global trading system. With cooperation unlikely, the world should prepare itself for the erosion of the World Trade Organization.

  3. Donald Trump Saul Loeb/Getty Images

    The Globalization of Our Discontent

    Globalization, which was supposed to benefit developed and developing countries alike, is now reviled almost everywhere, as the political backlash in Europe and the US has shown. The challenge is to minimize the risk that the backlash will intensify, and that starts by understanding – and avoiding – past mistakes.

  4. A general view of the Corn Market in the City of Manchester Christopher Furlong/Getty Images

    A Better British Story

    Despite all of the doom and gloom over the United Kingdom's impending withdrawal from the European Union, key manufacturing indicators are at their highest levels in four years, and the mood for investment may be improving. While parts of the UK are certainly weakening economically, others may finally be overcoming longstanding challenges.

  5. UK supermarket Waring Abbott/Getty Images

    The UK’s Multilateral Trade Future

    With Brexit looming, the UK has no choice but to redesign its future trading relationships. As a major producer of sophisticated components, its long-term trade strategy should focus on gaining deep and unfettered access to integrated cross-border supply chains – and that means adopting a multilateral approach.

  6. The Year Ahead 2018

    The world’s leading thinkers and policymakers examine what’s come apart in the past year, and anticipate what will define the year ahead.

    Order now