Centre for Business Taxation

Filter by

Sort by date



Posted by: on August 10, 2020

Apple, Ireland, and the European Union: Time to Move beyond Failed Approaches

Our international tax system is broken. Indirect remedies will not work, nor will demonizing companies or countries. Major tax reform is needed. Recently the EU General Court handed the European Commission a major defeat, quashing  the EC’s 2016 order that Ireland collect €13.1 billion in back taxes (plus accrued interest) from Apple. The now-overturned order […]

Read more

Posted by: on July 13, 2020

The Chancellor’s summer economic statement

On Wednesday, the Chancellor announced a £159 billion package to tackle the challenges arising from the Covid-19 crisis. In this blog, I will discuss three of the Chancellor’s announcements: the Coronavirus Job Retention Scheme (CJRS) phase-out plan, the series of policies under ‘Supporting Jobs’,[1] and the VAT reduction for the hospitality sector. The Office for […]

Read more

Posted by: on July 7, 2020

A temporary VAT rate cut may get us spending, but would it speed the recovery?

As the hospitality sector and high street shops begin to re-open, should the UK government introduce a temporary VAT rate cut to boost consumer spending? Other European countries are considering such a measure, and Germany has already cut its VAT rate from 19% to 16% until the end of the year.[1] The aim of a […]

Read more

Posted by: on June 29, 2020

A Policy for a Rebound Recovery

As the UK lockdown begins to ease, everyone hopes that the economic recovery will take the form of a sharp rebound. Given that average real wages have only just recovered to their 2008 levels following the financial crisis,[1] a sharp rebound from an even more severe crisis would be extremely welcome. But it cannot be […]

Read more

Posted by: on March 3, 2020

The Impact of Pillar II on Incentives: a trade-off between revenue and investment

By François Bares, Michael Devereux and İrem Güçeri In its Global Anti-Base Erosion (GloBE) proposal (also commonly referred to as Pillar II), the OECD has proposed a minimum tax to be paid by multinationals on their foreign profits. Recent CBT Blogs have already summarised the key components of the GloBE proposal and so in this […]

Read more

Posted by: on February 18, 2020

What problems might the GloBE solve?

by Michael Devereux and John Vella The 137 countries comprising the OECD’s Inclusive Framework recently agreed to continue exploring the two sets of proposals grouped under Pillars I and II on a “without prejudice basis”. The quest for reform rolls on, at least for the time being. How it will end is anybody’s guess. The […]

Read more

Posted by: on February 7, 2020

The GloBE Proposal: Revenue Consequences of a Minimum Tax on Foreign Profits of ...

by Sarah Clifford, Michael P. Devereux and Martin Simmler Last week the 137 members of the OECD’s Inclusive Framework agreed to continue work on its Global Anti-Base Erosion (GloBE) proposal (also often referred to as “Pillar 2”). The core element in the proposal is a minimum tax on foreign profits derived by multinational groups. The […]

Read more

Posted by: on December 18, 2019

The European Green Deal and Carbon (Border) Taxes: Déjà vu or new beginning?

Ursula von der Leyen, the president of the European Commission, recently released her political guidelines for the Commission’s new five-year term. One of her key proposals is a so-called “European Green Deal”. This initiative is intended to make Europe “the first climate-neutral continent in the world by 2050”. Her plan includes the revision of the […]

Read more

Posted by: on October 22, 2019

The OECD Pillar One Proposal

Regular readers of CBT blogs may have noticed the lack of recent contributions. Apologies. One reason is a lack of time, partly due to completing a book with the Oxford International Tax Group – watch this space for further news on that. But a more important reason is that Richard Collier – the driving force […]

Read more

Posted by: on March 27, 2019

A Reform Option for the OECD: Residual Profit Allocation by Income

The recent OECD consultation, notionally on the tax challenges brought by the digitalisation of the economy, has resulted in over 230 responses, from ACCA to Zalando. If it were just about new rules for a handful of large digital companies, that would be surprising. But it is not. The changes afoot go right to the […]

Read more