Taxing Profit in a Global Economy av Michael P. (Director of the Oxford University Centre for Business Taxation and Professor of Business Taxation Dir

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This is an open access title available under the terms of a CC BY-NC-ND 4.0 licence. It is offered as a free PDF download from OUP and selected open access locations. This book undertakes a fundamental review of the existing international system of taxing business profit. It steps back from the current political debates on how to combat profit shifting and how taxing rights over the profits of the digitalized economy should be allocated. Instead, it starts from first principles to ask how we should evaluate a tax on business profit¿and whether there is any good rationale for such a tax in the first place. It then goes on to evaluate the existing systemand a number of alternatives that have been proposed. It argues that the existing system is fundamentally flawed, and that there is a need for radical reform. The key conclusion from the analysis is that there would be significant gains from a reform that moved the system towards taxing profit in thecountry in which a business made its sa