{"product_id":"towards-a-neutral-formulary-apportionment-shu-chien-chen-9789403532769","title":"Towards a Neutral Formulary Apportionment System in Regional Integration","description":"\u003cp\u003eInternational tax regimes and practices are heavily criticized for failing to fairly levy corporate tax on giant multinational taxpayers in the current globalized and digitalized world. This important and far-seeing book demonstrates how formulary apportionment (FA) - an approach by which a multinational corporation pays each jurisdiction's corporate tax based on the share of its worldwide income allocated to that jurisdiction - can achieve the much-sought goal of aligning value creation and taxation. The author, through an intensive analysis of the European Union's (EU's) Common Consolidated Corporate Tax Base (CCCTB) Directive Proposal(s) and comparison to the United States (US's) formulary apportionment experience, shows how the perceived problems with an FA system can be overcome and lays out the necessary elements for its feasibility.\u003c\/p\u003e \u003cp\u003eWith detailed attention to the debates around formulary apportionment and its theoretical foundations, the book provides a blueprint for rebuilding the normative framework for the EU's tax reform by clearly analysing the implications of the following and more: \u003c\/p\u003e \u003cul\u003e \u003cli\u003e\n\u003cp\u003etheorising public benefits to be represented by taxation;\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e\n\u003cp\u003ereorganising different economic theories about tax neutrality and tax justice;\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e\n\u003cp\u003eadvancing the comparative legal research methodology to analyse law reform by combining the functional approach and the problem-solving approach;\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e\n\u003cp\u003edesigning the logical formulary apportionment system for digital economy;\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e\n\u003cp\u003eensuring the removal of the incentive for multinationals to shift reported income to low-tax locations;\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e\n\u003cp\u003ereducing the tax system's complexity and the administrative burden it imposes on firms;\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e\n\u003cp\u003eeliminating transfer pricing complexity for intra-firm transactions;\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e\n\u003cp\u003eachieving equal weighting of the sales factor, the labour factor, and the asset factor in the formula;\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e\n\u003cp\u003eapplication of 'destination-based' rule for attributing the sales factor; and\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e\n\u003cp\u003ereplacing the traditional permanent establishment nexus with a 'factor presence nexus'.\u003c\/p\u003e \u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eThe presentation incorporates extensive comparison between the EU's formulary apportionment tax reform option and FA systems existing in the United States (US) at state level, including reference to relevant US case law and legislation.\u003c\/p\u003e \u003cp\u003eAs a possible option to address the problem of base erosion and profit shifting (BEPS), formulary apportionment is gaining increasing acceptance and attention. This book will prove invaluable to taxation authorities, tax practitioners, and scholars in its deeply informed and systematic guidance on good practices and prevention of problematic experiences in establishing and implementing an effective and market-neutral FA system.\u003c\/p\u003e \u003cp\u003e \u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Shu-Chien Chen\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 9403532769\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9789403532769\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Kluwer Law International\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 03\/09\/2023\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 528\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 2.01lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.21h x 6.14w x 1.13d","brand":"Shu-Chien Chen","offers":[{"title":"Hardcover","offer_id":44121342902527,"sku":"9789403532769","price":165.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_eac8b9d4-bff6-466c-8974-bacc9914441e.jpg?v=1687419332","url":"https:\/\/www.whiterainbookhouse.com\/products\/towards-a-neutral-formulary-apportionment-shu-chien-chen-9789403532769","provider":"WR Book House","version":"1.0","type":"link"}