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Intel Public Policy: Tax

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Intel Public Policy: Tax

Policy Tax

Intel believes in promoting tax policies that encourage innovation and competition around the world. Intel supports measures that enhance the ability of innovative companies to compete in the global marketplace and, in turn, produce economic prosperity.

Background

An increasing share of Intel’s revenue comes from outside the U.S. (recently about 75 percent). In addition, Intel engages in a highly cost-conscious and capital-intensive business, and the location of our facilities can be substantially affected by the tax and economic development policies of potential host countries.

Currently, the 35 percent corporate income tax rate in the U.S. is the second highest among Organisation for Economic Co-operation and Development (OECD) countries. Notably, the ten-year cost differential between construction and operation of a wafer fabrication facility in the U.S. and various locations outside the U.S. exceeds one billion dollars—70 percent of which is attributable to tax treatment and approximately 20 percent to capital grants.

Moreover, a credit for research and experimentation in the U.S.—commonly referred to as the U.S. R&D Tax Credit—has expired thirteen times in its history and has become increasingly less generous than the policies other countries implement to encourage research within their borders. These factors adversely affect the planning and performance of research in the U.S. for Intel and other companies. On the global front, international double taxation and inter-company transfer pricing disputes can adversely affect Intel’s business. Therefore, we also must consider these issues when making investment decisions, including the location of our facilities.

Read the full Intel Public Policy Tax Paper.