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Anglo-American Corporate Taxation Tracing the Common Roots of Divergent Approaches

Name: Anglo-American Corporate Taxation
Brand: Cambridge University Press
SKU: 9780521887762
Price: 1639.30 HKD
Availability: OutOfStock
Author: Steven A. Bank
ISBN: 9780521887762

By Steven A. Bank

Cambridge University Press September 2011

Specifications

ISBN-13: 9780521887762
Publisher: Cambridge University Press
Publication: September 2011
Format: Hardback
Jurisdiction: U.K., U.S. ? Countri(es) for reference only

Details

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.

Contents:: Introduction; 1. A brief history of Early Anglo-American corporate income taxation; Part I. Twentieth Century and the Divergence in Systems; 2. The United Kingdom; 3. The United States; Part II. Explaining the Divergence; 4. Profits; 5. Power; 6. Politics; Part III. Conclusion; 7. 1970s to present: a time of convergence?