How should business profit be taxed? Some thoughts on conceptual developments during the lifetime of the IFS

Devereux, Michael (2019) How should business profit be taxed? Some thoughts on conceptual developments during the lifetime of the IFS. Oxford University Centre for Business Taxation, Oxford.

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Abstract

This paper reviews developments since the 1970s in economic thinking about the design of taxes on business profit. It charts developments from proposals for a cash flow tax from the Meade Committee, to refinements of this in the form of an Allowance for Corporate Equity (ACEA) and levying the cash flow tax in the country of destination. It describes how the development of international trade and investment has led to ever-increasing problems in the international tax system with respect to economic efficiency, profit shifting, complexity and tax competition, and identifies why responding to these problems requires a major
reform in the location of taxation.

Item Type: Other Working Paper
Keywords: Oxford University Centre for Business Taxation
Subject(s): Taxation
Centre: Oxford University Centre for Business Taxation > CBT Working Papers
Date Deposited: 09 Sep 2019 08:23
Last Modified: 09 Sep 2019 08:23
Funders: n/a
URI: http://eureka.sbs.ox.ac.uk/id/eprint/7433

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