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Accounting profits, tax profits and unitary taxation (revisited)

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journal contribution
posted on 10.03.2020, 09:27 by Rhoda Brown, Lynne Oats
Unitary 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 Review

Volume

2020

Issue

1

Pages

63 - 81

Publisher

Sweet and Maxwell

Version

AM (Accepted Manuscript)

Rights holder

© Thomson Reuters

Publisher 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

07/01/2020

Publication date

2020-03-17

Copyright date

2020

ISSN

0007-1870

Language

en

Depositor

Dr Rhoda Brown. Deposit date: 9 March 2020

Exports

Loughborough Publications

Categories

Exports