Are there Feasible Reforms for Corporation Taxes?

J Alworth

Fiscal Studies, 1980, vol. 1, issue 3, 65-73

Abstract: It has always been difficult to justify the existence of a separate tax on corporations in a fiscal system based ultimately on individual ability to pay and many, indeed, have argued that the corporation tax should, in principle, be abrogated. Some, however, have contended that corporate status conveys certain privilages, especially with regards to limited liability, that would justify taxing companies according to the benefit principle; others suggest that the corporation tax adds to the progressivity of the income tax since a company's retained earnings would otherwise provide a shelter for those who had chosen to invest in the corporate sector.

Date: 1980
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