The European Commission proposes to replace the current system of taxing corporate income using separate accounting by a two-step 'consolidation and apportionment' procedure. This paper uses a large set of unconsolidated firm-level data to assess the likely impact on corporate tax revenues in...

After a break of a few years, the European Union has recently again become active in the area of co-ordinating capital income taxes between Member States. In December 1997, the Council of Finance Ministers agreed to establish a highlevel Working Party to implement a Code of Conduct on business...

Corporation tax in the UK is based on an estimate of historic cost company profits. The present system was introduced in the 1984 Budget and has been in full effect since the end of the transitional period in 1986. The consequences of inflation in combination with this tax base were well known...

Although it is now over twenty years since the European Commission first published proposals concerning the harmonisation of corporate taxes, the debate on the desirablility of any such reform has not yet achieved a high political profile. However, it seems likely that the elimination or...

Few subjects can have received so much serious study recently as the reform of corporate taxation. The Ruding Committee Report is the third major report on the subject to have been published this year. The other two are the OECD's report on taxing profits in a global economy and the US...

It is widely agreed that, in the absence of specific corrective aims, the corporate tax system should aim for neutrality. A fully neutral tax would not affect the scale of a company's activities, nor the allocation of investment spending between different assets, nor the method by which this...