Anglo-American corporate taxation : tracing the common roots of divergent approaches / Steven A. Bank.
2011
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Details
Title
Anglo-American corporate taxation : tracing the common roots of divergent approaches / Steven A. Bank.
Imprint
Cambridge : Cambridge University Press, 2011.
Description
1 online resource (v, 257 pages) : digital, PDF file(s).
Series
Cambridge tax law series.
Formatted Contents Note
A brief history of early Anglo-American corporate income taxation
Part I. Twentieth century and the divergence in systems
The United Kingdom
The United States
Part II. Ecplaining the divergence
Profits
Power
Politics
Part III. Conclusion
1970s to present : a time of convergence?
Part I. Twentieth century and the divergence in systems
The United Kingdom
The United States
Part II. Ecplaining the divergence
Profits
Power
Politics
Part III. Conclusion
1970s to present : a time of convergence?
Summary
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.
Note
Title from publisher's bibliographic system (viewed on 05 Oct 2015).
Location
WWW
Available in Other Form
Print version:
Linked Resources
Alternate Title
Cambridge Core.
Language
English
ISBN
9781139013284 ebook
9780521887762 (hardback)
9780521887762 (hardback)
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