Corporate tax reform is in the air. Competitive pressures from globalization, as well as skyrocketing budget deficits, are forcing lawmakers to rethink how America's largest businesses are taxed. Some want to close loopholes. Others want to end all U.S. tax on foreign profits. Some want to lower rates, while still others want to abolish the corporate tax altogether and replace it with an entirely new system. Unlike many other books on tax policy, Corporate Tax Reform: Taxing Profits in the 21st Century is not selling an idea or approaching the issue from a particular political slant. It boils down the complexity of corporate taxation into simple language so readers can make up their own minds about the future of this controversial tax. For too long, the issue of corporate tax reform has been the exclusive domain of lawyers and economists who devote their entire adult lives to studying the tax. Corporate Tax Reform: Taxing Profits in the 21st Century opens the door on these issues to all concerned citizens by providing a compact guide to the economics and politics of the current debate on corporate tax reform. * Provides an overview of the corporate tax and the possibilities for reform * Discusses the impact on businesspeople and individual taxpayers * Boils down complex tax concepts boiled into simple language * Spurs lively discussion of the political issues without political bias * Includes a discussion of ideas for revamping taxes for individuals, since the corporate and individual tax codes are interrelated What you'll learn * Why economists want to abolish the corporate tax * Why politicians can't get rid of the corporate tax * What the biggest and the slimiest loopholes are * The ramifications of all possible outcomes for businesspeople * How the U.S. tax code compares to foreign competitors * The major options for reform, including the flat tax * How politics and tight budgets will shape the debate before and after the 2012 election * Why individual taxpayers have a stake in the outcome of this debate Who this book is for Corporate Tax Reform: Taxing Profits in the 21st Century is for citizens concerned about America's future who want to get beyond the economic jargon and political rhetoric that dominates most discussion of business tax policy.As the debate on the complex issue of corporate tax reform rages in Washington, Corporate Tax Reform: Taxing Profits in the 21st Century is a beginner's guide that is useful to business executives, market analysts, journalists, lawmakers, government policy analysts, lawyers, accountants, as well as students of public policy, law, accounting, and economics. Table of Contents * Let the Debate Begin * Profits and Profit Tax, By the Numbers * The Overwhelming Case against the Corporate Tax * Why the Corporate Tax Won't Go Away * Cut the Rate * Where the Money Is * Corporate Tax Expenditures * How Should Foreign Profits Be Taxed? * Globalization and the Modern Multinational * Pass-Through Entities * State Corporate Taxes * Corporate Tax Simplification * Fundamental Tax Reform * More Bold Reforms * The Budget and Political Reality * Notes on the Tables * Further Reading

The UK and the USA have historically represented opposite ends of the spectrum in their approaches to taxing corporate income. Under the British approach, corporate and shareholder income taxes have been integrated under an imputation system, with tax paid at the corporate level imputed to shareholders through a full or partial credit against dividends received. Under the American approach, by contrast, corporate and shareholder income taxes have remained separate under what is called a 'classical' system in which shareholders receive little or no relief from a second layer of taxes on dividends. Steven A. Bank explores the evolution of the corporate income tax systems in each country during the nineteenth and twentieth centuries to understand the common legal, economic, political and cultural forces that produced such divergent approaches and explains why convergence may be likely in the future as each country grapples with corporate taxation in an era of globalization.

Tolley's Yellow Tax Handbook ensures you have a complete view of contemporary tax legislation. This book is endorsed by the Chartered Institute of Taxation (CIOT). The new edition contains all the relevant UK direct tax legislation, along with EU Directives and Regulations and essential HMRC material. The impact of the Finance Act(s) 2017 is expertly covered by Tolley's tax team. The reader's understanding of the legislation is assisted by cross-references to the HMRC Internal Guidance Manuals and market-leading commentary in Simon's Taxes. With arguably the longest tax code in the world, and Finance Acts of increasing complexity and volume, interpreting the legislation has become more difficult than ever. Tolley's Handbook is the imperative reliable guide to the legislation. Tolley's Yellow Tax Handbook 2017-18 comprehensively covers the up-to-date legislation relating to income tax, capital gains tax, corporation tax, national insurance contributions, tax credits, petroleum revenue tax, inheritance tax and other direct taxes such as ATED and diverted profits tax. The consolidated legislation is extensively annotated by our technical team with cross-references to commentary, tax cases and HMRC guidance to give you the answers you need quickly and easily. * Includes statutes and statutory instruments; extra-statutory concessions and statements of practice, cross-references, definitions, additional helpful material such as HMRC Briefs and cross-references to the HMRC Internal Guidance Manuals, and numbered footnotes explaining amendments to the legislation. * Covers the Revenue Scotland administrative powers and Scottish tribunals structure, including provisions for the devolution and collection of taxes in Scotland * Endorsed by the Chartered Institute of Taxation * Approved for use during CIOT and ATT examinations * Published in five volumes * Included as part of the Tolley's Yellow & Orange Tax Reference Set 2017-18 Endorsed by the CIOT, these authoritative volumes are the definitive guide to UK tax legislation.

Tax policy frequently targets the choices that women face in many aspects of their lives. Decisions regarding working away from home, having children, marrying, registering a partnership or cohabiting with a partner all entail tax consequences. The end of the twentieth century saw progress in women's legal and social equality, but many governments began to increase their reliance on the tax system as a means of influencing the choices that women make. The juxtaposition of this instrumentalist deployment of tax with persisting economic inequality for women is the starting point for this book. Employing a range of theoretical approaches, and grounding its investigations in sociological theory and cultural philosophy, it provides the foundation for a comparative, contextual consideration of the issues that arise at the intersection of women, tax policy and the law.

VAT and Financial Services takes the reader through the relevant legislation and case law, the legal concepts such as time and place of supply, the distinction between goods and services, what is taxable, and the interaction of these elements; examines the consequences of outsourcing (through a detailed study of 10 significant cases); looks at the key issues facing financial services and insurance; and then discusses the VAT cost sharing exemption. Since the third edition, there have been significant developments, including (most obviously) Brexit. The key VAT change is that EU legislation is no longer primary legislation (although many EU VAT principles, obligations and rights have been 'retained') and ECJ court decisions are, in general, no longer binding although 'a court or tribunal may have regard to anything done on or after exit day by the European Court, another EU entity or the EU so far as it is relevant to any matter before the court or tribunal' (European Union (Withdrawal) Act, 2018 s6(2)). Also, the Court of Appeal decision in HMRC v Perfect [2022] EWCA Civ 330, which is an excise duty case but more widely applicable, confirmed that decisions from any referrals to the ECJ made before 31 December 2020 remain binding on the UK even if the decision is issued after that date. In addition to this general change, there have been some more specific changes, for example the changes to the VAT (Specified Supplies) Order 1999, which now treats supplies to persons in the EU in the same way as supplies to persons outside the EU and some changes to the status of EU pension funds. A further change has been to the status of Cost Sharing Groups, an arrangement that allows persons who carry on certain activities to form a group to share costs without creating sticking VAT. As Cost Sharing groups are no longer available to the financial services and insurance sectors, the chapter and appendix covering these have been removed from this edition. Appendices include: contracts of insurance; Lloyd's VAT arrangements; HMRC ABI partial exemption guidance for the insurance sector; TOGC legal extracts; and the VAT territory of the EU. Finance directors and finance controllers in the financial services and insurance sectors and at those who advise these sectors should all find the book helpful.

The New Fiscal Sociology: Taxation in Comparative and Historical Perspective demonstrates that the study of taxation can illuminate fundamental dynamics of modern societies. The sixteen essays in this collection offer a state-of-the-art survey of the new fiscal sociology that is emerging at the intersection of sociology, history, political science, and law. The contributors include some of the foremost comparative historical scholars in these disciplines and others. They approach the institution of taxation as a window onto the changing social contract. Their chapters address the social and historical sources of tax policy, the problem of how taxes persist, and the social and cultural consequences of taxation. They trace fundamental connections between tax institutions and macrohistorical phenomena - wars, shifting racial boundaries, religious traditions, gender regimes, labor systems, and more.

Tax law is political. This book highlights and explains the major themes and methodologies of a group of scholars who challenge the traditional claim that tax law is neutral and unbiased. The contributors to this volume include pioneers in the field of critical tax theory, as well as key thinkers who have sustained and expanded the investigation into why the tax laws are the way they are and what impacts tax laws have on historically disempowered groups. This volume, assembled by two law professors who work in the field, is an accessible introduction to this new and growing body of scholarship. It is a resource not only for scholars and students in the fields of taxation and economics, but also for those who engage with critical race theory, feminist legal theory, queer theory, class-based analysis, and social justice generally. Tax is the one area of law that affects everyone in our society, and this book is crucial to understanding its impact.

Das deutsche Steuerrecht ist durch bestandigen Wandel gepragt. Der Steuerrechtswissenschaft fallt die Aufgabe zu, sich abzeichnende Entwicklungen moeglichst fruhzeitig zu identifizieren und wissenschaftlich zu durchdringen. Auf Anregung des Max-Planck-Instituts fur Steuerrecht und OEffentliche Finanzen haben sich bereits zum zweiten Mal fuhrende Steuerrechtswissenschaftlern der jungeren Generation mit von ihnen als besonders wichtig erachteten "Zukunftsfragen" des deutschen Steuerrechts befasst. Die Bandbreite der behandelten Themen reicht von den verfassungsrechtlichen und europarechtlichen Rahmenbedingungen der Steuerrechtsordnung uber das Potential der Kodifikationsidee im Steuerrecht bis hin zur Besteuerung des Finanzsektors und zur Vermeidung der Umsatzsteuerdefinitivbelastung bei Koerperschaften des oeffentlichen Rechts.

The central element of the taxpayer's relationship with the law was the protection it afforded to ensure only the correct amount of tax was paid, that it was legally levied and justly administered. These legal safeguards consisted of the fundamental constitutional provision that all taxes had to be consented to in Parliament, local tax administration, and a power to appeal to specialist tribunals and the courts. The book explains how these legal safeguards were established and how they were affected by changing social, economic and political conditions. They were found to be restrictive and inadequate, and were undermined by the increasing dominance of the executive. Though they were significantly recast, they were not destroyed. They proved flexible and robust, and the challenge they faced in Victorian England revealed that the underlying, pervasive constitutional principle of consent from which they drew their legitimacy provided an enduring protection for the taxpayer.

In the minds of many, the provision of justice and security has long been linked to the state. To ask whether non-state institutions could deliver those services on their own, without the aid of coercive taxation and a monopoly franchise, runs the risk of being branded as naive anarchism or dangerous radicalism. Defenders of the state's monopoly on lawmaking and law enforcement typically assume that any alternative arrangement would favor the rich at the expense of the poor--or would lead to the collapse of social order and ignite a war. Questioning how well these beliefs hold up to scrutiny, this book offers a powerful rebuttal of the received view of the relationship between law and government. The book argues not only that the state is unnecessary for the establishment and enforcement of law, but also that non-state institutions would fight crime, resolve disputes, and render justice more effectively than the state, based on their stronger incentives.

Dedicated to the work of John Tiley, the premier tax academic in the UK for more than two decades, this volume of essays focuses on two themes that, among others, inspire the writings of Tiley. The first of these themes, tax avoidance, involves using tax law in a manner that is contrary to legislative intent. The second of these themes, taxation of the family, involves proper identification of the tax subject and is therefore one of the fundamental structural features of income tax. Drawing on historical precedent, academic excellence and personal experience, the importance of Tiley's contribution to the tax field is identified through contributions by some of the world's most influential tax writers.

The Earned Income Tax Credit (EITC) is a refundable tax credit available to eligible workers with relatively low earnings. Because the credit is refundable, an EITC recipient need not owe taxes to receive the benefit. The credit is authorized by Section 32 of the Internal Revenue Code (IRC) and administered as part of the federal income tax system. In 2013, a total of $68.1 billion was claimed by 28.8 million tax filers, making the EITC the largest need-tested anti-poverty cash assistance program. This book provides an overview of the EITC, first discussing eligibility requirements for the credit, followed by how the credit is computed and paid; provides data on the growth of the EITC since it was first enacted in 1975; and includes data on the EITC claimed on 2013 tax returns, examining EITC claims by number of qualifying children, income level, tax filing status, and location of residence. Moreover, this book summarizes findings from the 2014 IRS study detailing the factors that can lead to erroneous claims of the credit, and describes the challenges the IRS may face in their efforts to reduce each type of error. It also examines the role of paid tax preparers on EITC error.

This book examines the coherent international tax regime that is embodied in both the tax treaty network and in domestic laws, and the way it forms a significant part of international law, both treaty based and customary. The practical implication is that countries are not free to adopt any international tax rules they please, but rather operate in the context of the regime, which changes in the same ways international law changes over time. Thus, unilateral action is possible, but is also restricted, and countries are generally reluctant to take unilateral actions that violate the basic norms that underlie the regime. The book explains the structure of the international tax regime and analyzes in detail how US tax law embodies the underlying norms of the regime.