The Role of Taxation in the Mediterranean Financial Integration

Marco Greggi () and Maria Rita Sidoti ()
Additional contact information
Marco Greggi: University of Ferrara
Maria Rita Sidoti: Research fellow School of Finance and Economics, Ministry of Finance

Chapter Chapter 6 in Financial Integration, 2013, pp 95-116 from Springer

Abstract: Abstract Taxation is one of the most significant factors affecting financial integration. It involves custom duties, withholding taxes applied to the free flow of capitals running from one country to another, or the conditions under which an investment that a business of a certain country does on the territory of another can be taxed in the latter jurisdiction. The paper addresses the impact of taxation in the Mediterranean area, considering, in particular, the effect of direct and indirect taxes in the flow of investments. In this respect, however, the fiscal integration of the two main areas the Mediterranean region is divided into (North and South) are remarkably different. While the European Union appears a homogeneous area seen from outside, with an harmonized Value Added Tax system, uniform custom duties and relevant aspects of direct taxation sharing general rules and principles, a lot remains to be done. For what concerns the interaction with third Counties, free movement of capital is the only provision clearly and positively set also to the advantage of individuals and legal bodies resident or belonging to them. In a perspective of integration there is a basic approach that requires the implementation of a common system of rules applicable to specific income only, but the main way is the harmonization of the VAT system even in neighbour countries of the Mediterranean and the sharing of the same principles to prevent double taxation.

Keywords: Tax; VAT; EU law; Double taxation (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:fimchp:978-3-642-35697-1_6

Ordering information: This item can be ordered from
http://www.springer.com/9783642356971

DOI: 10.1007/978-3-642-35697-1_6

Access Statistics for this chapter

More chapters in Financial and Monetary Policy Studies from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().