Time and again, the same arguments are raised in the never-ending debate over the relative merits of consumption taxation and income tax. This paper discusses the 10 most important arguments made in favour of and against greater reliance on consumption tax in Australia including assertions that...

The SNF case in Australia revealed that in Australia a court could interpret domestic transfer pricing rules differently from those in Australia's tax treaties. In particular, the court rejected the use of OECD transfer pricing guidelines to determine an arm's length price under domestic law....

After 30 years of orthodox socialism, in 1979 China opened the door to a market economy. The unleashed entrepreneurial spirit and rapid accumulation of savings and investment led to unparalleled economic growth. Remarkably, investment, companies and even stock exchanges proceeded without...

Adopted a decade after the commencement of VAT in the UK, the Korean VAT was largely modelled on the European precedent and most features of the tax have parallels with the traditional VAT. In two significant aspects, however, the Korean VAT diverges from its European counterparts. The first...

While it is now generally accepted that some redistribution of economic power is a legitimate goal of government, there is no consensus as to the type of redistribution that should be pursued. In the absence of a clear redistributive goal, it is impossible to evaluate critically current law, or...

Expenditures incurred to protect a taxpayer's title or interest in an asset may generate a benefit that lasts momentarily or for a longer time. This raises a conceptual question of whether the expense should be deductible when incurred or captialized and recognized over a longer period....