Journal Article

Business taxation in a globalized world

Michael P. Devereux

in Oxford Review of Economic Policy

Published on behalf of The Oxford Review of Economic Policy Ltd

Volume 24, issue 4, pages 625-638
Published in print January 2008 | ISSN: 0266-903X
Published online January 2008 | e-ISSN: 1460-2121 | DOI: http://dx.doi.org/10.1093/oxrep/grn037
Business taxation in a globalized world

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This paper addresses broad issues concerning taxes on company profit in a globalized world in which companies, capital, and profit can move easily between countries. It considers reasons for national taxation of company profit in such a world, and reviews the development of such taxes in the OECD. The role played by tax havens is discussed and evidence on the responsiveness of companies to differences in taxation across countries is presented. A central issue is the allocation of taxable profit between countries. Existing practice has no clear rationale. Recent proposals for fundamental reform in the EU are discussed.

Keywords: corporation tax; optimal international taxation; H25; H32; H87

Journal Article.  8083 words.  Illustrated.

Subjects: Economic Development and Growth ; Public Economics ; Political Economy ; Public Policy

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