BTR article LUPIN version.pdf (423.63 kB)
Accounting profits, tax profits and unitary taxation (revisited)
journal contribution
posted on 2020-03-10, 09:27 authored by Rhoda Brown, Lynne OatsUnitary taxation requires the adoption of a set of rules that enables a combined group tax profit base to be determined. Setting aside questions as to which entities should be included and how the resultant profit should be allocated to relevant jurisdictions, this article focusses on the question of what is an appropriate base, and whether accounting principles, in particular external financial reporting principles, are fit for this purpose. The authors contribute to the ongoing debate on this issue, now even more salient in relation to the digital economy and the "unified approach" proposed by the OECD, by considering more recent changes in both financial reporting and taxation. The article concludes that there is considerable preparatory work to be done before an appropriate base for unitary taxation can be developed, if that is even possible.
Funding
Economic and Social Research Council under grant reference ES/S00713X/1
History
School
- Business and Economics
Department
- Business
Published in
British Tax ReviewVolume
2020Issue
1Pages
63 - 81Publisher
Sweet and MaxwellVersion
- AM (Accepted Manuscript)
Rights holder
© Thomson ReutersPublisher statement
This is a pre-copyedited, author-produced version of an article accepted for publication in British Tax Review following peer review. The definitive published version BROWN, R. and OATS, L., 2020. Accounting profits, tax profits and unitary taxation (revisited). British Tax Review, 2020 (1), pp.63-81 is available online on Westlaw UK or from Thomson Reuters DocDel service.Acceptance date
2020-01-07Publication date
2020-03-17Copyright date
2020ISSN
0007-1870Publisher version
Language
- en