Oregon’s offshore tax system faces a potential overhaul in the Legislature, one year after lawmakers repealed the state’s five-year old tax haven legislation.

The debate is about Oregon’s role in the global marketplace and its need to collect taxes from corporations with interests outside the U.S.

Lawmaker actions from 2018 will get scrutiny in the debate, too.

Tax reform advocates say Oregon lawmakers moved too quickly when they repealed the state’s tax haven law. That law rerouted the Oregon-earned income of companies based offshore for tax collection purposes.

Oregon’s former tax haven law was a blacklist: It targeted and named countries, like the Cayman Islands, San Marino and the Cook Islands.

Source :https://eu.statesmanjournal.com/story/news/politics/2019/02/02/oregon-offshore-tax-laws-scrutiny-legislature-loophole-economy/2683410002/