Transcript: CORPORATE TAX ISSUES:DAVID WALKER

Article from:
Congressional Testimony
Article date:
June 13, 2006
Copyright

Congressional Testimony
06-13-2006
Statement of David Walker Comptroller General, U.S. Government Accountability
Office Committee on Senate Finance June 13, 2006 Challenges to Corporate
Tax Enforcement and Options to Improve Securities Basis Reporting Corporate
income taxes are expected to bring in about $277 billion in 2006 to help
fund the activities of the federal government. Besides raising revenue,
the tax alters investment decisions and raises concerns about competitiveness
in an environment of increasing global interdependency. The complexity
of the tax breeds tax avoidance, including an estimated $32 billion of
noncompliance detected by the Internal Revenue Service (IRS). This testimony
...

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