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International Taxation

In: International Business Finance

Author

Listed:
  • Douglas Wood

    (Manchester Business School)

  • James Byrne

    (Manchester Business School)

Abstract

It is customary to commence a discussion of taxation with the advice that the objective of tax management is not to minimise taxation but to maximise the flow of after-tax earnings. Unfortunately, this is something of an oversimplification. The company obtains resources to achieve its objectives through a variety of fund flows other than post-tax income — borrowing, depreciation, factoring and leasing are obvious examples. In addition, there is the major consideration of grants and benefits that are commonly provided for new investment, particularly in high tax regions. The objective of taxation management should therefore be to reflect these alternatives by being concerned to minimise the impact of taxation on the ability of an organisation to achieve its strategic objectives of growth and survival.

Suggested Citation

  • Douglas Wood & James Byrne, 1981. "International Taxation," Palgrave Macmillan Books, in: International Business Finance, chapter 7, pages 159-198, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-03120-7_7
    DOI: 10.1007/978-1-349-03120-7_7
    as

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