By Carsten Wendt
Corporation taxation is a crucial aspect for the institution and the finishing touch of the inner marketplace. by contrast historical past, the ecu fee recommends the harmonization of the tax base within the eu Union. Carsten Wendt analyzes the need, the concept that in addition to strength benefits and results of a standard tax base for multinational firms within the ecu Union. He addresses vital matters relating a typical tax base, resembling a definition of the consolidation and the formulation used to allocate the consolidated tax base one of the concerned member states. the writer presents replacement techniques to resolve those matters and concludes universal tax base as meant by way of the eu fee could treatment the various latest tax stumbling blocks for multinational organisations within the european.
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Extra resources for A Common Tax Base for Multinational Enterprises in the European Union
6 Public goods are often not excludable, nor is their exclusion always desirable (see Musgrave and Musgrave, 1989: 220). Moreover, despite being excludable, their provision may be desired free of direct charge. These characteristics differ significantly from those characteristics associated with private goods. 2). For an analysis of the characteristics of public goods see Frank, 2003: 654. 34 3 Guidelines for Income Taxation of Multinational Enterprises services are non-excludable or free of charge, individuals have no reason to reveal their preferences and a tax charge in proportion to the costs associated with the consumption of the public goods or services by an individual does not seem feasible.
Assuming that exporting also entails fixed costs, they obtain a sorting by which the most productive firms serve the foreign market via subsidiary sales, the lower productive firms serve the market via exporting and still lower productive firms serve only the domestic market (see Heplman, Melitz and Yeaple, 2004). Evidently, this sorting is consistent with the empirical evidence that multinational corporations are more productive than exporters who are not multinationals, and exporters who are not multinationals are more productive than firms who serve only the domestic market (see Heplman, Melitz and Yeaple, 2004 for evidence from the United States, Girma, Görg and Strobl, 2004 for evidence from Ireland and Girma, Kneller and Pisu, 2005 for evidence from the United Kingdom).
Similarly to the reasoning regarding horizontal foreign direct investment, theory predicts that vertical foreign direct investment is more likely to occur whenever transport costs are low. Empirical evidence for vertical foreign direct investment has been provided by Yeaple (2003). He finds that the ratio of exports to foreign direct investment sales is decreasing in the interaction of a measure of human capital abundance and a measure of skilled-labour intensity. Hanson, Mataloni and Slaughter (2003) find that a large and increasing fraction of foreign direct investment flows is related to exports of intermediate inputs to foreign affiliates for further processing.
A Common Tax Base for Multinational Enterprises in the European Union by Carsten Wendt