Corporate income tax: what is it good for?
Source: Australian Tax Forum Journal Article
Published Date: 1 Dec 2015
This article attempts a top-down analysis of what corporate income tax is capable of achieving in terms of the public good. It considers how well the current configuration of the tax fares when weighed against the principles of equity, efficiency and simplicity. These principles, if carefully defined, provide an invaluable opportunity to think about the theoretical and practical limitations of any individual tax. Applying these principles to the corporate income tax results in the inescapable conclusion that it cannot be described as being an equitable, efficient or simple tax. However, given the need for incremental reform of our tax laws, the corporate income tax does have at least one saving grace: it can be a useful instrument of social and economic policy.
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Details
- Published By: Mark Bowler-Smith
- Published On:1 Dec 2015
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