【正文】 畢業(yè)論文 外文翻譯 2022 年 3 月 15 日外文來源 Cato Handbook for Policymakers Author :David Boaz 中文譯文 卡 托 政 策 制 定 者 手 冊 ： 戴 維 波 阿 斯 部 （系） 商 學(xué) 部 專 業(yè) 姓 名 學(xué) 號 2 0 0 9 0 1 2 0 0 1 4 6 指導(dǎo)老師 英文原文 1 Cato handbook for policymakers author: David Boaz Corporate tax reforms David Boaz Cato institute 7th Edition 2022 Corporate Tax Reforms A key issue for tax policy in the global economy is how to deal with multinational corporations. Corporate taxation is important to investors, but also to the living standards of average Americans. In a globalized economy, the burden of the corporate ine tax falls mainly on workers in the form of lower wages. If corporations are not investing in the United States due to high taxes, labor productivity will fall, and that will drag down American wages. Compared with foreignbased corporations, . multinational corporations are subject to particularly high tax rates and plicated tax rules. The United States taxes corporations on their worldwide ine, even though that ine may also be subject to taxes in the foreign nations where it is earned. The . tax code provides credits to minimize double taxation, but this is a plex and unpetitive method of business taxation. The worldwide system discourages the repatriation of foreign earnings, and it puts . businesses at a disadvantage in foreign markets. By contrast, twothirds of major nations tax corporations on a territorial basis, which means that they generally do not tax business ine earned outside their national borders. There would be two key advantages of the United States’ switching from a worldwide to a territorial system of business taxation. First, it would end the current tax barrier to the repatriation of foreign earnings. Currently, repatriated foreign earnings are subject to the 35 percent federal corporate tax, which suppresses profit repatriation and thus investment in the United States. Under a territorial system, business profits earned abroad would be repatriated free of a . tax burden. Second, it would help make the United States a good home for the headquarters of multinational corporations. Currently, a high tax rate and the worldwide tax system make the United States a poor choice for locating corporate headquarters. If the United States switched to a territorial system, panies could earn profits abroad without a . tax burden placed on top of the foreign taxes paid. That would make it easier for firms to expand 英文原文 2 their foreign sales, which in turn would lead to expansion in firms’ . headquarters activities, such as management, finance, and research. Reducing the . corporate tax rate is also a crucial reform because of the mobile nature of the corporate tax base in the globalized economy. Because of the high . tax rate, panies put large efforts into moving their investments and reported profits abroad to lowtax nations, such as Ireland. America’s high corporate tax rate is a loser for the . economy, and it is also a loser for the government because it causes the tax base to shrink dramatically. Recent experience shows that governments lose little, if any, revenue when they cut their corporate tax rates. Corporate tax cuts create strong dynamic responses that offset reductions in revenues. In our book Global Tax Revolution, we calculated the average corporate tax rate and average corporate tax revenues as a share of gross domestic product for 19 industrial nations. The a