Anglo-American corporate taxation : tracing the common roots of divergent approaches / Steven A. Bank.

Format:

Book

Author/Creator:

Bank, Steven A., 1969- author.

Series:

Cambridge tax law series

Language:

English

Subjects (All):

Corporations--Taxation--Law and legislation--Great Britain--History.

Corporations.

Income tax--Law and legislation--Great Britain--History.

Income tax.

Corporations--Taxation--Law and legislation--United States--History.

Income tax--Law and legislation--United States--History.

Income tax--Law and legislation.

History.

Corporations--Taxation--Law and legislation.

United States.

Great Britain.

Physical Description:

1 online resource (v, 257 pages) : digital, PDF file(s).

Place of Publication:

Cambridge : Cambridge University Press, 2011.

System Details:

text file

PDF

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.

Contents:

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?

Notes:

Title from publisher's bibliographic system (viewed on 05 Oct 2015).

Other Format:

Print version:

ISBN:

9781139013284

Access Restriction:

Restricted for use by site license.