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Corporate tax harmonization in the EU

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  • Leon Bettendorf
  • Michael P. Devereux
  • Albert van der Horst
  • Simon Loretz
  • Ruud A. de Mooij

Abstract

"This paper explores the economic consequences of proposed EU reforms for a common consolidated corporate tax base. The reforms replace separate accounting with formula apportionment as a way to allocate corporate tax bases across countries. To assess the economic implications, we use a numerical computable general equilibrium (CGE) model for Europe. It encompasses several decision margins of firms such as marginal investment, FDI decisions, and multinational profit shifting. The simulations suggest that consolidation does not yield substantial welfare gains for Europe. The variation of effects across countries is large and depends on the choice of the apportionment formula. Consolidation with formula apportionment does not weaken incentives for tax competition. Tax competition instead offers a rationale for rate harmonization, in addition to base harmonization." Copyright (c) CEPR, CES, MSH, 2010.

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Bibliographic Info

Article provided by CEPR & CES & MSH in its journal Economic Policy.

Volume (Year): 25 (2010)
Issue (Month): (07)
Pages: 537-590

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Handle: RePEc:bla:ecpoli:v:25:y:2010:i::p:537-590

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Cited by:
  1. Haufler, Andreas & Lülfesmann, Christoph, 2012. "Reforming an Asymmetric Union: On the Virtues of Dual Tier Capital Taxation," Annual Conference 2012 (Goettingen): New Approaches and Challenges for the Labor Market of the 21st Century 62082, Verein für Socialpolitik / German Economic Association.
  2. Bernardi, Luigi, 2009. "Le tasse in Europa dagli anni novanta
    [Taxation in Europe since the Years 1990s]
    ," MPRA Paper 23441, University Library of Munich, Germany.
  3. Kimberly Clausing, 2007. "Corporate tax revenues in OECD countries," International Tax and Public Finance, Springer, vol. 14(2), pages 115-133, April.
  4. Michael P. Devereux & Simon Loretz, 2011. "How Would EU Corporate Tax Reform Affect US Investment in Europe?," NBER Working Papers 17576, National Bureau of Economic Research, Inc.
  5. George Zodrow, 2006. "Capital Mobility and Source-Based Taxation of Capital Income in Small Open Economies," International Tax and Public Finance, Springer, vol. 13(2), pages 269-294, May.
  6. Lenka Janíčková, 2012. "Tax Harmonization – the Possible Way out of the Crisis?," Český finanční a účetní časopis, University of Economics, Prague, vol. 2012(1), pages 64-81.
  7. Ortmann, Regina & Sureth, Caren, 2014. "Can the CCCTB alleviate tax discrimination against loss-making European multinational groups?," arqus Discussion Papers in Quantitative Tax Research 165, arqus - Arbeitskreis Quantitative Steuerlehre.

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