Taxing Capital Income in the European Union: Issues and Options for Reform by Sijbren CnossenTaxing Capital Income in the European Union: Issues and Options for Reform by Sijbren Cnossen

Taxing Capital Income in the European Union: Issues and Options for Reform

EditorSijbren Cnossen

Hardcover | June 15, 2000

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Following the introduction of the euro, the European Union has started to debate the desirability and feasibility of more co-ordination in the field of capital income taxation. In contrast with product taxes, the EU Treaty does not provide for explicit authority to harmonize income taxes. Sofar, little co-ordination has taken place, even though the capital income tax base is much more mobile and hence more difficult to tax than is, for instance, consumption (and labour). There is much discussion on a minimum withholding tax on interest and on a code of conduct for business incometaxes, but in practice little real progress is being made in aligning the various capital income taxes. More fundamentally, a broad, tax-policy type of discussion on whether, where, and how capital income should be taxed is lacking. The papers in this volume try to fill this void. Roger Gordon addresses the question of whether or not capital income should be taxed. Subsequently, Peggy Musgrave and Richard Bird / Scott Wilkie try to come to grips with the question of where capital income should be taxed-in the member state ofsource or the member state of residence. Michael Devereux and Harry Huizinga / Soren Bo Nielsen then analyse various issues that arise in taxing equity income and imposing a withholding tax on interest. Next, Stephen Bond and Sijbren Cnossen discuss specific comprehensive proposals for taxingcapital income in open economies. Finally, Scott Newlon and Charles McLure / Joann Weiner look at the difficulties of and alternatives to maintaining separate corporate income taxes in the EU. This introductory chapter summarizes the various papers and briefly discusses the basic issues andsolutions.
Sijbren Cnossen is Professor of Tax Law and Public Finance at the Economics Faculty of Erasmus University, Rotterdam, and Visiting Global Professor of Law at New York University
Title:Taxing Capital Income in the European Union: Issues and Options for ReformFormat:HardcoverPublished:June 15, 2000Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198297831

ISBN - 13:9780198297833

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Table of Contents

1. Sijbren Cnossen: Summary and Discussion2. Roger H. Gordon: Taxation of Capital Income vs. Labour Income: An Overview3. Peggy B. Musgrave: Interjurisdictional Equity in Company Taxation: Principles and Applications to the European Union4. Richard M. Bird and J. Scott Wilkie: Source- vs. Residence-based Taxation in the European Union: The Wrong Question?5. Michael P. Devereux: Issues in the Taxation of Income from Foreign Portfolio and Direct Investment6. Harry Huizinga and Soren Bo Nielsen: The Taxation of Interest in Europe: A Minimum Withholding Tax?7. Stephen R. Bond: Levelling Up or Levelling Down? Some Reflections on the ACE and CBIT Proposals, and the Future of the Corporate Tax Base8. Sijbren Cnossen: Taxing Capital Income in the Nordic Countries: A Model for the European Union?9. T. Scott Newlon: Transfer Pricing and Income Shifting in Integrating Economies10. Charles E. McLure, Jr. and Joann M. Weiner: Deciding whether the European Union should Adopt Formula Apportionment of Company Income