Global Imperatives of Taxation of the TNCs' Activities
Journal Title: Бізнес Інформ - Year 2015, Vol 7, Issue 0
Abstract
The tax systems of developed world countries at present are unique and multivarious. They vary depending on the level of the tax burden, the ratio of direct and indirect taxes, the size of tax rates. In the process of tax competition, each country is trying to find certain competitive advantages that will enable it to cooperate effectively with key market participants and fulfill its own tasks. These advantages are especially relevant in relation to international activities of TNCs, which have the ability to choose countries with more favorable tax field. So, to date, countries need to find a compromise between implementation of both TNCs' and their own interests. The article is aimed to clarify the global tax imperatives towards the TNCs' activities as well as improving the leverages of international taxation. In the course of research, the question as to whether TNCs are subject to tax jurisdiction was disclosed. It has been proved that choice of the home country for the TNC's parent company affects the industry in which the company operates. The necessity of reforming the system of taxation of TNC because of violation of the principle of horizontal equity has been substantiated. The solution to the problem may be offered by harmonization of taxation, which is what Europe and the countries of the Asia-Pacific region are trying implement nowadays. The next step will be creation of a new international tax regime, allowing TNCs to carry out their activities freely under any jurisdiction.
Authors and Affiliations
Anna Maksymenko
Keywords
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