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Company Tax Reform in the European Union: Guidance from the by Joann Martens-Weiner

By Joann Martens-Weiner

The ecu fee offered a method that will let european businesses to compute their european tax base less than a unmarried set of tax ideas on the ecu point and use a standard formulation to distribute this tax base around the person Member States. corporation Tax Reform and Formulary Apportionment within the ecu Union presents vast suggestions for the ecu in shaping a method of consolidated base taxation with formulary apportionment. It evaluates how the U.S. states and Canadian provinces have resolved the commercial, political, and technical elements of the formulary apportionment technique. The publication discusses the panorama for corporation tax reform within the ecu Union and illustrates how formulary apportionment may well distribute the tax base around the Member States. It offers useful info on how you can layout an apportionment formulation and discusses chosen compliance and administrative concerns. It analyzes how formulary apportionment may possibly impact funding, employment, tax sales, and tax pageant within the eu Union.

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Additional info for Company Tax Reform in the European Union: Guidance from the United States and Canada on Implementing Formulary Apportionment in the EU

Example text

Non-participating Member States may not im- 26 Company Tax Reform in the European Union pede implementation of the cooperative measures in the participating Member States. The European Commission has the sole right to propose Community legislation, and it takes the leading role in proposing EU-level tax policy measures, but the Member States must approve these proposals. 14 This rejection has many explanations, but it may primarily be due to the Member States' view that retaining complete autonomy to set company tax policy is paramount.

Controlled counterparts. S. multinationals are negatively related to the effective tax rate foreign operations face. Newlon cautions, however, that although the data may suggest income shifting, they also may mask important differences in the underlying companies and that a more rigorous statistical analysis is necessary to control for these differences. Econometric studies that control for these underlying differences provide some evidence that multinational companies engage in profit shifting, although generally not to the extent suggested by the data described above.

Income apportioned to Europe in EUR millions: (1) Property + Payroll (2) Payroll + Sales (3) Three factor (4) Double-weighted-sales €1,193 1,133 1,285 1,331 €1,888 1,814 2,038 2,113 €1,701 1,623 1,811 1,865 €1,526 1,628 1,661 1,729 €984 1,048 1,072 1,116 Notes: Net operating assets are used for the property factor, number of employees for the payroll factor, and group turnover (sales of goods and services after deduction of discounts and sales taxes) for the sales factor. Net operating assets are the total of goodwill and intangible assets of subsidiaries, joint ventures and associates purchased after January 1, 1998, tangible fixed assets, stocks (inventory), debtors (excluding deferred taxation) less trade and other creditors and provisions for liabilities and charges.

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