This is real money, and you are the important part of the show, tell me what is on your mind. The fallout from burger kings deal to buy tim hortons, canadian company, is turning into a Public Relations nightmare. Dick durban, the democrat from illinois blasted the 11. 4 billion deal and said how disappointed he is in burger kings decision to renounce its american citizen. Billionaire investor, warren buffet is in damage control mode over the tax rates. Buffet is famous for calling on americas wealthy to pay their fair share to uncle sam. His participation puts him in an walk ward supposition. Burg awkward position. Burger king is the latest of companies to merge with a foreign firm on paper. They operate in the u. S. , but doing the inversion, they take advantage of lower tax rates outside the United States. Burger king denies this deal is about denying uncle sam its due. Its merging with tim hortons , is says to open business visitas. It allows money to be transferred without paying u
This is real money, and you are the important part of the show, tell me what is on your mind. The fallout from burger kings deal to buy tim hortons, canadian company, is turning into a Public Relations nightmare. Dick durban, the democrat from illinois blasted the 11. 4 billion deal and said how disappointed he is in burger kings decision to renounce its american citizen. Billionaire investor, warren buffet is in damage control mode over the tax rates. Buffet is famous for calling on americas wealthy to pay their fair share to uncle sam. His participation puts him in an walk ward supposition. Burg awkward position. Burger king is the latest of companies to merge with a foreign firm on paper. They operate in the u. S. , but doing the inversion, they take advantage of lower tax rates outside the United States. Burger king denies this deal is about denying uncle sam its due. Its merging with tim hortons , is says to open business visitas. It allows money to be transferred without paying u
Equally the other Member States lack those protections as well. If we then come on to our cfc rules, we revamp our cfc rules broadly at the same time we much to a much more territorial system of tax. That slide gives a very broad summary of the old rules and the new rules. I think two key points about the old rules, they contained a quite strong presumption that activity should be in the uk if it could be, if you like. So therefore, there was a tendency for there to be a pull into the uk. If you moved activity from country x to country whyy, there might be a question why hadnt you moved it into the uk or where wasnt it in the uk in the first place. So that impact on foreign to foreign transactions was particularly crucial and prar particularly difficult for many businesses to handle. I think another key difference is the current rules are more proportionate proportionate. Under the old rules, you could in some circumstances have quite a lot of income that would have otherwise been caug
Broadly at the same time we much to a much more territorial system of tax. That slide gives a very broad summary of the old rules and the new rules. I think two key points about the old rules, they contained a quite strong presumption that activity should be in the uk if it could be, if you like. So therefore, there was a tendency for there to be a pull into the uk. If you moved activity from country x to country whyy, there might be a question why hadnt you moved it into the uk or where wasnt it in the uk in the first place. So that impact on foreign to foreign transactions was particularly crucial and prar particularly difficult for many businesses to handle. I think another key difference is the current rules are more proportionate proportionate. Under the old rules, you could in some circumstances have quite a lot of income that would have otherwise been caught by cfc rules and income that you would logically want to catch with cfc rules, you could avoid that be a technique called
Certain information. Yes. But when it comes to priorities, he sets those priorities, not you. Were responsive to the committees priorities. And tell me, when tell me the priority list right now. What is that list . Number one. It is, number one is the production of documents that were requested regarding former officials, and the top of the list was for former secretary clinton. Number two are the interviews of the four Diplomatic Security agents we referenced. Thats not to say that the other requests are forgotten. Thats not it at all. What it is is to say those are the issues those are the items that we have worked most diligently on and we will be. We have good story that we are producing within several days we will begin producing to the committee those beginning of those documents that were requested. Its only been six weeks, roughly, since the initial request. And then a few about a month of the finalization of that. And in between that, weve prepared for hearings that didnt come