Theoretical work has emphasised the potentially powerful impact of corporation tax asymmetries on investment behaviour, but empirical work has mainly been confined to the measurement of effective tax rates. This paper uses panel data from 597 U.K. companies to ask: Are tax asymmetries important...

We have developed our proposals in the context of the current UK tax system, but our final report contains more general lessons for the taxation of savings and profits. The system that we describe is particularly appropriate for adoption within the European Union. We have used the current UK...

This paper considers the implications of the destination-based cash flow tax (DBCFT) for three common ways of shifting taxable profits between countries: through manipulation of transfer prices, the use of debt, and locating intangible assets in low taxed jurisdictions. It shows that none of...

This paper presents, analyses, and further develops the idea of a destination-based cash-flow tax (DBCFT). Its purpose is expositional: to describe the DBCFT, how it might work, what its effects would be and some of the challenges that its implementation would face. The paper starts by...

This paper is a draft chapter of a forthcoming book on the taxation of international business profit by the authors of this paper, to be published by Oxford University Press. The group has been meeting regularly for five years, to identify and discuss the key problems of the existing...