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Company Taxes in the European Union: Criteria and Options for Reform

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Author Info
Sijbren Cnossen
Abstract

In 1992, the Ruding Committee, appointed by the European Commission to examine the need for company tax (CT) harmonisation in the European Union (EU), presented its findings and recommendations.2 Although the Committee concluded that differences in CTs distort the workings of the internal market — differences which most likely would not be eliminated by market forces or tax competition — it none the less proposed to leave the CTs in the EU essentially the same as it had found them, replete with their widely diverging domestic and cross-border treatment of different kinds of returns and different kinds of recipients of the various returns. As argued below, however, differential treatment will perpetuate the distortions inherent to the current CTs and erode the taxing authority of source states. A minimum statutory CT rate of 30 per cent, proposed by the Ruding Committee, and the adoption of the (draft)

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Article provided by Institute for Fiscal Studies in its journal Fiscal Studies.

Volume (Year): 17 (1996)
Issue (Month): 4 (November)
Pages: 67-97
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Handle: RePEc:ifs:fistud:v:17:y:1996:i:4:p:67-97

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Bonds, Stephen R. & Devereux, Michael P., 1995. "On the design of a neutral business tax under uncertainty," Journal of Public Economics, Elsevier, vol. 58(1), pages 57-71, September. [Downloadable!] (restricted)
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  2. Lockwood, Ben & Manning, Alan, 1993. "Wage setting and the tax system theory and evidence for the United Kingdom," Journal of Public Economics, Elsevier, vol. 52(1), pages 1-29, August. [Downloadable!] (restricted)
  3. Cnossen, Sijbren, 1990. "The case for tax diversity in the European community," European Economic Review, Elsevier, vol. 34(2-3), pages 471-479, May. [Downloadable!] (restricted)
  4. Easterbrook, Frank H, 1984. "Two Agency-Cost Explanations of Dividends," American Economic Review, American Economic Association, vol. 74(4), pages 650-59, September. [Downloadable!] (restricted)
  5. Roger H. Gordon & Joel Slemrod, 1988. "Do We Collect Any Revenue from Taxing Capital Income?," NBER Chapters, in: Tax Policy and the Economy: Volume 2, pages 89-130 National Bureau of Economic Research, Inc. [Downloadable!]
  6. Jack Mintz, 1995. "Corporation tax: a survey," Fiscal Studies, Institute for Fiscal Studies, vol. 16(4), pages 23-68, November. [Downloadable!]
  7. George Kopits, 1992. "Tax harmonization in the European Community: Policy Issues and Analysis," IMF Occasional Papers 94, International Monetary Fund.
  8. Michael Keen, 1993. "The welfare economics of tax co-ordination in the European Community : a survey," Fiscal Studies, Institute for Fiscal Studies, vol. 14(2), pages 15-36, February.
  9. Atkinson, A B & Sandmo, A, 1980. "Welfare Implications of the Taxation of Savings," Economic Journal, Royal Economic Society, vol. 90(359), pages 529-49, September. [Downloadable!] (restricted)
  10. Parthasrathi Shome & Christian Schutte, 1993. "Cash-Flow Tax," IMF Working Papers 93/2, International Monetary Fund.
  11. Michael Devereux, 1992. "The harmonisation of corporate income taxes in Europe: the Ruding Committee Report," Fiscal Studies, Institute for Fiscal Studies, vol. 13(2), pages 108-121, May.
  12. Williams, Joseph, 1988. " Efficient Signalling with Dividends, Investment, and Stock Repurchase s," Journal of Finance, American Finance Association, vol. 43(3), pages 737-47, July. [Downloadable!] (restricted)
  13. James M. Poterba, 1987. "Tax Policy and Corporate Saving," Working papers 470, Massachusetts Institute of Technology (MIT), Department of Economics.
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  14. Jeffrey Owens, 1993. "Globalisation: the implications for tax policies," Fiscal Studies, Institute for Fiscal Studies, vol. 14(3), pages 21-44, August.
  15. Smith, Stephen, 1993. "'Subsidiarity' and the Co-ordination of Indirect Taxes in the European Community," Oxford Review of Economic Policy, Oxford University Press, vol. 9(1), pages 67-94, Spring.
  16. Boadway, Robin & Bruce, Neil, 1984. "A general proposition on the design of a neutral business tax," Journal of Public Economics, Elsevier, vol. 24(2), pages 231-239, July. [Downloadable!] (restricted)
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  17. Harry Huizinga, 1994. "International interest withholding taxation: Prospects for a common European policy," International Tax and Public Finance, Springer, vol. 1(3), pages 277-291, October. [Downloadable!] (restricted)
  18. Michael Devereux, 1992. "The Ruding Committee report : an economic assessment," Fiscal Studies, Institute for Fiscal Studies, vol. 13(2), pages 96-107, May.
  19. Razin, Assaf & Sadka, Efraim, 1991. "International tax competition and gains from tax harmonization," Economics Letters, Elsevier, vol. 37(1), pages 69-76, September. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. 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. [Downloadable!] (restricted)
  2. George Zodrow, 2003. "Tax Competition and Tax Coordination in the European Union," Asia-Pacific Financial Markets, Springer, vol. 10(6), pages 651-671, November. [Downloadable!] (restricted)
    Other versions:
  3. John Isaac, 1997. "A comment on the viability of the allowance for corporate equity," Fiscal Studies, Institute for Fiscal Studies, vol. 18(3), pages 303-318, August. [Downloadable!]
  4. Michael Devereux, 2004. "Debating Proposed Reforms of the Taxation of Corporate Income in the European Union," Asia-Pacific Financial Markets, Springer, vol. 11(1), pages 71-89, January. [Downloadable!] (restricted)
  5. Andreas Haufler, 1999. "Prospects for co-ordination of corporate taxation and the taxation of interest income in the EU," Fiscal Studies, Institute for Fiscal Studies, vol. 20(2), pages 133-153, June. [Downloadable!]
  6. Seppo Kari & Jouko Ylä-Liedenpohja, 2002. "Classical Corporation Tax as a Global Means of Tax Harmonization," Discussion Papers 266, Government Institute for Economic Research Finland (VATT). [Downloadable!]
    Other versions:
  7. Johannes Becker & Clemens Fuest, 2005. "Does Germany Collect Revenue from Taxing Capital Income?," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  8. Hans-Werner Sinn, 1997. "Deutschland im Steuerwettbewerb (Germany Faces Tax Competition)," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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