Catching Capital

The Ethics of Tax Competition

Business & Finance, Finance & Investing, Taxation, Nonfiction, Religion & Spirituality, Philosophy, Political, Social & Cultural Studies, Political Science, Politics, History & Theory
Cover of the book Catching Capital by Peter Dietsch, Oxford University Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Peter Dietsch ISBN: 9780190251536
Publisher: Oxford University Press Publication: July 1, 2015
Imprint: Oxford University Press Language: English
Author: Peter Dietsch
ISBN: 9780190251536
Publisher: Oxford University Press
Publication: July 1, 2015
Imprint: Oxford University Press
Language: English

Rich people stash away trillions of dollars in tax havens like Switzerland, the Cayman Islands, or Singapore. Multinational corporations shift their profits to low-tax jurisdictions like Ireland or Panama to avoid paying tax. Recent stories in the media about Apple, Google, Starbucks, and Fiat are just the tip of the iceberg. There is hardly any multinational today that respects not just the letter but also the spirit of tax laws. All this becomes possible due to tax competition, with countries strategically designing fiscal policy to attract capital from abroad. The loopholes in national tax regimes that tax competition generates and exploits draw into question political economic life as we presently know it. They undermine the fiscal autonomy of political communities and contribute to rising inequalities in income and wealth. Building on a careful analysis of the ethical challenges raised by a world of tax competition, this book puts forward a normative and institutional framework to regulate the practice. In short, individuals and corporations should pay tax in the jurisdictions of which they are members, where this membership can come in degrees. Moreover, the strategic tax setting of states should be limited in important ways. An International Tax Organisation (ITO) should be created to enforce the principles of tax justice. The author defends this call for reform against two important objections. First, Dietsch refutes the suggestion that regulating tax competition is inefficient. Second, he argues that regulation of this sort, rather than representing a constraint on national sovereignty, in fact turns out to be a requirement of sovereignty in a global economy. The book closes with a series of reflections on the obligations that the beneficiaries of tax competition have towards the losers both prior to any institutional reform as well as in its aftermath.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Rich people stash away trillions of dollars in tax havens like Switzerland, the Cayman Islands, or Singapore. Multinational corporations shift their profits to low-tax jurisdictions like Ireland or Panama to avoid paying tax. Recent stories in the media about Apple, Google, Starbucks, and Fiat are just the tip of the iceberg. There is hardly any multinational today that respects not just the letter but also the spirit of tax laws. All this becomes possible due to tax competition, with countries strategically designing fiscal policy to attract capital from abroad. The loopholes in national tax regimes that tax competition generates and exploits draw into question political economic life as we presently know it. They undermine the fiscal autonomy of political communities and contribute to rising inequalities in income and wealth. Building on a careful analysis of the ethical challenges raised by a world of tax competition, this book puts forward a normative and institutional framework to regulate the practice. In short, individuals and corporations should pay tax in the jurisdictions of which they are members, where this membership can come in degrees. Moreover, the strategic tax setting of states should be limited in important ways. An International Tax Organisation (ITO) should be created to enforce the principles of tax justice. The author defends this call for reform against two important objections. First, Dietsch refutes the suggestion that regulating tax competition is inefficient. Second, he argues that regulation of this sort, rather than representing a constraint on national sovereignty, in fact turns out to be a requirement of sovereignty in a global economy. The book closes with a series of reflections on the obligations that the beneficiaries of tax competition have towards the losers both prior to any institutional reform as well as in its aftermath.

More books from Oxford University Press

Cover of the book Impurity and Sin in Ancient Judaism by Peter Dietsch
Cover of the book Your Sister in the Gospel by Peter Dietsch
Cover of the book Spiritual, Religious, and Cultural Aspects of Care by Peter Dietsch
Cover of the book France: Oxford Bibliographies Online Research Guide by Peter Dietsch
Cover of the book The World and Africa and Color and Democracy (The Oxford W. E. B. Du Bois) by Peter Dietsch
Cover of the book Vanishing Voices by Peter Dietsch
Cover of the book Founding Friendships by Peter Dietsch
Cover of the book Sense of Place and Sense of Planet by Peter Dietsch
Cover of the book Crossing the Lines of Caste by Peter Dietsch
Cover of the book Threshold of War : Franklin D. Roosevelt and American Entry into World War II by Peter Dietsch
Cover of the book `A'isha: Oxford Bibliographies Online Research Guide by Peter Dietsch
Cover of the book Are We Not Men? by Peter Dietsch
Cover of the book Hillbilly by Peter Dietsch
Cover of the book In Defense of Gun Control by Peter Dietsch
Cover of the book The End of Early Music by Peter Dietsch
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy