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Tax Carbon and Leave The Rest to the Markets

By Adam Reed

Regarding “Car Makers Keen on Electric Push” (Business News, Nov. 10): It is true that we can do better than our current patchwork of state and federal auto regulations. Yet no matter how many electric vehicles we put on the road, more is needed to reduce our carbon emissions. We need to incentivize a gradual transition to clean-energy sources throughout our entire economy.

Turnover Taxes Under Treaties Are Valid, U.N. Tax Head Says

By Isabel Gottlieb

Agreements between countries on taxes targeting revenue, rather than profits, are acceptable under international law, the top United Nations tax official said Monday. “Bilateral negotiations can take time but they also have a more immediate signaling function on treaty possibilities and on domestic law legitimacy,” said Michael Lennard, chief of international tax cooperation in the U.N. Financing for Development Office.

Digital Tax Talks Deadline Puts Pressure on Biden Treasury (1)

By Isabel Gottlieb

President-elect Joe Biden’s Treasury Department is facing a narrow window if it wants to put its stamp on an OECD-led effort to overhaul global tax rules in 2021. The OECD wants to get nearly 140 countries to agree to a plan by next summer—which won’t leave much time for Treasury staffers to take on their new roles after Biden takes office Jan. 20, firm up the U.S.'s negotiating position going forward, and engage in the talks.