Proposed New Self-Dealing Tax a Fundamental Change
Author: Staff Editors.
Source: Volume 03, Number 01, November/December 2003 , pp.12-12(1)
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Abstract:
Increasing the rate of the initial tax on self-dealing from 5% to 25% may seem like a simple change. In fact, however, it represents a fundamental departure from the basic theory of the self-dealing tax structure. According to the legislative history, the original intention was to impose a “relatively light” first-level tax on acts of self-dealing, with the subsequent second level tax “intended to be sufficiently heavy to compel voluntary compliance . . .” See S. Rep. No. 552, 91st Cong., 1st Sess. 28-34 (1969).Keywords:
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