This article asserts that the United States does not subject corporate profits to a relatively high nominal rate of taxation. In support of this assertion, the article analyzes the VAT, and concludes that the VAT incorporates a tax on corporate profits. The portion of the VAT that taxes...

section I. Local and regional development in a global context -- section II. Defining the principles and values of local and regional development -- section III. Concepts and theories of local and regional development -- section IV. Government and governance -- section V. Local and regional...