Symposium on the Ruding Committee report

Article Abstract:

The Committee of Independent experts on Company Taxation, chaired by the Dutch Finance Minister Onnu Ruding was established by the European Commission in 1990 to examine potential reductions in tax-induced distortions to international business activity. The committe published its report on Mar 18, 1992. The report offers recommendations on 30% witholding tax on dividends to prevent tax evasion and ant-discriminatory proposals to reduce distortions. Critics claim that the report is biased towards multinational businesses and does not solve the problem of national bias.

Analysis, Tax evasion

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Tax treatment of financial instruments in the UK: new treatment proposed by the Inland Revenue consultative document

Article Abstract:

The Inland Revenue published a consultative document on the taxation of financial instruments, such as swaps and hedging rate contracts in Aug 1991. The document proposes that: a purpose test should be applied to all instruments to ascertain whether its main purpose is to hedge interest rate risk; all payments and receipts should be dealt with as income items; witholding tax should be abolished except for non-residents and UK investment trusts and other institutions should be exempt from taxation.

Financial instruments

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Prospects for co-ordination of corporate taxation and the taxation of interest income in the EU

Article Abstract:

The proposed co-ordinated capital tax policy in the EU that calls for an EU-wide minimum withholding tax on interest income and alternative ways of increasing the effective tax rate on corporate profits is evaluated. The fiscal policy proposal was found to have the potentials to produce some aggregate efficiency gains. However, this will also limit additional tax collections from small savers while allowing large-scale investors to avoid EU tax.

Tax Law, Public Finance Activities, Tax reform, European Union

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