A Common Tax Base for Multinational Enterprises in the by Carsten Wendt

By Carsten Wendt

Corporation taxation is a vital point for the institution and the finishing touch of the interior marketplace. in contrast history, the ecu fee recommends the harmonization of the tax base within the eu Union. Carsten Wendt analyzes the need, the idea that in addition to power merits and results of a standard tax base for multinational businesses within the eu Union. He addresses vital concerns referring to a typical tax base, equivalent to a definition of the consolidation and the formulation used to allocate the consolidated tax base one of the concerned member states. the writer presents replacement recommendations to resolve those concerns and concludes universal tax base as meant through the ecu fee could treatment the various present tax stumbling blocks for multinational organisations within the european.

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In their model, licensing may be subject to defections in two forms. On the one hand, the foreign producer can defect by opening a rival firm in the second period. On the other hand, the parent firm can defect by issuing a second license to another foreign firm. However, designing a contract in such a way as to prevent the licensee’s defection may be costly, since some rents must be shared with the licensee to make defection unprofitable. The licenser might then prefer to operate with a wholly owned subsidiary.

These theories have been empirically tested by Brainard (1997). Her results indicate that transport costs as measured by tariffs and freight costs are negatively correlated to 3 Extensions to this model can be found in Horstmann and Markusen (1987, 1992) and Brainard (1993), who referred to this approach as the “proximity-concentration” hypothesis. 14 2 Theory of Multinational Enterprises exports instead of horizontal foreign direct investment. Furthermore, plant-level economies of scale turned out to be positively correlated to exporting while the reverse is true for firm-level economies.

However, licensing carries costs as well. Several problems of licensing in an international context are used to explain the costs associated with licensing and thus the emergence of integration (see Markusen, 1995). For instance, problems may relate to reputation concerns (see Horstmann and Markusen, 1987). A licensee may free ride on the reputation for product quality (see Caves and Murphy, 1976). If the licenser attempts to extract all rents from the licensee, the 22 2 Theory of Multinational Enterprises licensee in turn may skimp on quality by producing an inferior substitute product in order to earn rents.

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