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| Titel: |
Deferred Shareholder Taxation - Implementing a Neutral Business Tax in the European Union |
| Auteur: |
Knirsch, Deborah Niemann, Rainer |
| Verschenen in: |
Accounting in Europe |
| Paginering: | Jaargang 5 (2008) nr. 2 pagina's 101-125 |
| Jaar: |
2008-12 |
| Inhoud: |
This paper proposes the replacement of the corporate income tax by shareholder-based capital income taxation. Our proposal would guarantee investment neutrality of taxation and reduced tax compliance costs. The proposal is based on the S-base cash flow tax. Under the S-base tax, transactions within the corporate sector are not taxable and only transactions between shareholders and corporations are subject to tax. In contrast to existing S-base cash flow tax systems, tax deductibility of investments is deferred. Rather, the acquisition costs and capital endowments are compounded at the capital market rate and are set off against future capital gains. Dividends and withdrawals are fully taxable at the shareholder level. Because of the deferral of the tax payments our proposal is called 'Deferred Shareholder Tax' (DST). The DST exhibits the same neutrality properties as the traditional cash flow tax. Moreover, the compounded inter-temporal credit method ensures that it is neutral with respect to the decision between domestic and foreign investment. To increase acceptance of the DST, current taxpayers' documentation requirements will be reduced rather than extended. Our proposal could be realised in a single EU country or in all member states of the EU. |
| Uitgever: |
Routledge |
| Bronbestand: |
Elektronische Wetenschappelijke Tijdschriften |
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