DeutschesFachbuch.de : A Common Tax Base for Multinational Enterprises in the European Union Von Carsten Wendt

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Table of Contents
PrefaceV
Summary of ContentsVII
Table of ContentsIX
List of AbbreviationsXIII
List of FiguresXV
List of TablesXVII
1 Introduction 1
2 Theory of Multinational Enterprises 9
2.1 Definitions 9
2.2 Some Facts about Multinational Enterprises 10
2.3 Dunning' s OLI Framework 11
2.4 Horizontal Foreign Direct Investment 13
2.5 Vertical Foreign Direct Investment 15
2.6 Knowledge-Capital Model 16
2.7 Internalization 17
2.7.1 Theory of the Firm 17
2.7.2 Boundaries of the Multinational Enterprise 21
2.8 Summary 26
3 Guidelines for Income Taxation of Multinational Enterprises 29
3.1 Functions of Corporation Income Taxes 29
3.1.1 The Corporation Income Tax as a Withholding Tax 30
3.1.2 The Corporation Income Tax as a Benefit Tax 31
3.1.3 The Corporation Income Tax as a Tax on Economic Rents 31
3.2 Equity 32
3.2.1 Individual equity 33
3.2.2 Inter-nation equity 37
3.3 Efficiency and Neutrality 40
3.3.1 The National Perspective 40
3.3.2 The International Perspective 45
3.4 Administrative Aspects of Taxation 49
3.5 Summary 50
4 Company Taxation in the European Union - a Stocktaking 53
4.1 National Investments 54
4.1.1 Corporate Income Tax 54
4.1.1.1 Nominal Tax Rates 54
4.1.1.2 Tax Accounting Rules 55
4.1.1.2.1 Relationship between Financial and Tax Accounting 55
4.1.1.2.2 Taxable Income 56
4.1.1.2.3 Recognition of Assets 57
4.1.1.2.4 Determination of cost values 59
4.1.1.2.5 Amortization 60
4.1.1.2.6 Recognition of Liabilities and Provisions 63
4.1.1.2.7 Inter-Company Dividends 64
4.1.1.2.8 Capital Gains 65
4.1.1.2.9 Loss Relief 67
4.1.1.3 Group Taxation 69
4.1.2 Corporation Tax System 74
4.1.3 Local Taxes 75
4.2 Foreign Direct Investments 76
4.2.1 Taxation of Foreign Income 76
4.2.2 Allocation of pro fits -the arm's length principle 79
4.2.3 Deductibility of interest 82
4.2.4 Loss Relief 83
4.2.5 Group Taxation 83
4.2.6 Business Reorganisations 84
4.3 Summary 85
5 An Evaluation of the Prevailing Corporation Tax in the European Union 87
5.1 Separate Accounting Under the Arm ' s Length Principle 87
5.2 Residence and Source Based Taxation 91
5.3 Measures to Protect the Tax Base 93
5.4 Effects of Corporate Income Taxes on Business Behaviour 94
5.4.1 International Capital Allocation 94
5.4.2 International Profit Allocation 96
5.4.2.1 Thin Capitalization 97
5.4.2.2 Transfer Pricing 98
5.5 An Aside - Influence of Decisions of the European Court of Justice 99
5.6 Summary 101
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