New report by Tax Justice Network stresses importance of corporate income tax to finance essential public services

On 18 March 2015, the Tax Justice Network published a landmark report entitled Ten Reasons to Defend the Corporation Tax.

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Article
18 March 2015

New Report: Ten Reasons to Defend the Corporate Income Tax

Author: Tax Justice Network

…The corporate income tax is under attack. Nation states are scrambling to offer multinational corporations an ever growing feast of lower taxes, loopholes and incentives. Lobbyists and politicians constantly try to persuade us that the corporate tax is a bad, inefficient, unreasonable tax. Yet it is one of the most precious of all taxes…Corporate income taxes raise essential revenue for schools, hospitals and the rule of law…The corporate income tax curbs inequality and protects democracy...[and] enhance[s] national welfare...

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Article
18 March 2015

Summary: Ten Reasons to Defend the Corporation Tax

Author: Tax Justice Network

The corporate income tax is under attack, around the world. Politicians, businesspeople, think tanks, large accountancy firms and economists who think they understand tax are calling for ever more draconian cuts. Some are even urging outright abolition of the tax...This perception is based on profound myths, fallacies and misunderstandings. This document...reveals why the corporate income tax is one of the most precious of all taxes. It holds the whole tax system together. It curbs political and economic inequalities and helps rebalance distorted economies. It protects democracy. It boosts financial transparency...and curbs criminal behaviour. It stops large multinational corporations...from extracting wealth from societies by free-riding off taxpayer-funded public goods...It protects developing countries in particular,...curbing their dependence on foreign aid. It underpins economic growth. And it raises trillions in revenue that is used as a basis to pay for essential public services...

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Report
17 March 2015

Full Report: Ten Reasons to Defend the Corporation Tax

Author: Tax Justice Network

The corporate income tax is one of the most precious of all taxes. Yet it is under attack...As this document explains, it holds your country's whole tax system together. It is one of the best ways to tax capital, and it can powerfully curb...inequalities. It helps rebalance distorted economies...It protects democracy. It boosts financial transparency...and curbs criminal behaviour...It stops large multinational corporations...from extracting wealth from societies by free-riding off taxpayer-funded roads, education systems, courts and health services. It protects developing countries in particular, boosting self-reliance...And of course it raises trillions in revenue,...which governments use...for providing essential public services. Many of these things are hard to measure, and often get airbrushed out of the equation...This document outlines ten solid reasons to defend the corporate income tax. It also explodes seven popular myths about the tax...[Refers to American Electric Power, Apache, Atmos Energy, Boeing, CenterPoint CMS Energy, Corning, Duke Energy, Energy, FirstEnergy, General Electric, Google, Integrys Energy Group, Interpublic Group, NiSource, Northeast Utilities, Paccar, PepsiCo, PG&E, PricewaterhouseCoopers, Ryder, SABMiller, Tenet Healthcare, Verizon]

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