Download Common Corporate Tax Base in the EU: Impact on the Size of by Christoph Spengel PDF

By Christoph Spengel

The eu fee envisages asserting a suggestion for a tax reform that may let enhancing the potency and straightforwardness of the company source of revenue tax structures. This file assesses the impression of a typical company Tax Base (CCTB) at the dimension of the company tax bases of european businesses. the result of the document shall support to guage the commercial outcomes of the advent of a harmonised set of tax accounting ideas. The estimates are in keeping with the eu Tax Analyzer with info from the 12 months 2006 and practice suggestions laid out in the Commission’s steerage Group.

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Extra info for Common Corporate Tax Base in the EU: Impact on the Size of Tax Bases and Effective Tax Burdens

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The impact of real estate taxes on the overall tax burden is generally not significant. It is comparatively high in Belgium, Denmark, Ireland, Latvia, Lithuania, and in the United Kingdom, however. In these countries, the share of real estate tax in the overall tax burden amounts to more than 9%. 2 Analysis of EU-Average Large Corporations 33 Figure 4: Comparison of effective tax burdens according to current taxation practice – Deviation from the EU average in % (large company, corporate level, 10 periods) IE BG EE RO LV CY SK PL LT CZ FI PT SE GR SL NL LU DK BE UK AT MT ES HU IT DE FR -60% -40% -20% 0% 20% 40% 60% 80% 100% 120% Additional taxes are imposed in Austria, Cyprus, France, Germany, Hungary, Italy, Luxembourg, Spain and Slovenia.

4. However, this result does not hold true for countries in which the CCTB replaces the tax credit method for dividends with the exemption method. This is the case in Greece, Ireland, Malta, Poland and the United Kingdom. In these countries the exemption of dividends permanently reduces the periodical tax base and thus the future value of the tax base. As opposed to the described effect, the impact of the changed method to avoid double taxation of dividends on the effective tax burden is not significant.

If the deviation exceeds this threshold, a check is made as to whether the difference can be traced back to mistakes in the summation of the sub-items. If not, the financial statements of the year in question are completely eliminated. Negative values are not accepted within the balance sheet (except for equity items). g. g. tangible fixed assets, intangible fixed assets, other fixed assets) are eliminated by proportional increase or decrease of these sub-items. The mathematical accurancy of the income statement is also verified.

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