Download Free Destination Profit Book in PDF and EPUB Free Download. You can read online Destination Profit and write the review.

Build the bottom line in your business: engaged people = enriched profits
The international tax system is in dire need of reform. It allows multinational companies to shift profits to low tax jurisdictions and thus reduce their global effective tax rates. A major international project, launched in 2013, aimed to fix the system, but failed to seriously analyse the fundamental aims and rationales for the taxation of multinationals' profit, and in particular where profit should be taxed. As this project nears its completion, it is becomingincreasingly clear that the fundamental structural weaknesses in the system will remain. This book, produced by a group of economists and lawyers, adopts a different approach and starts from first principles in order to generate an international tax system fit for the 21st century. This approach examines fundamental issues of principle and practice in the taxation of business profit and the allocation of taxing rights over such profit amongst countries, paying attention to the interests and circumstances of advanced and developing countries. Once this conceptual framework is developed, the book evaluates the existing system and potential reform options against it. A number of reform options are considered, ranging from those requiring marginal change to radically different systems. Some options have been discussed widely. Others, particularly Residual Profit Split systems and a Destination Based Cash-Flow Tax, are more innovative and have been developed at some length and in depth for the first time in this book. Their common feature is that they assign taxing rights partly/fully to the location of relatively immobile factors: shareholders or consumers.
Schemes of residual profit allocation (RPA) tax multinationals by allocating their ‘routine’ profits to countries in which their activities take place and sharing their remaining ‘residual’ profit across countries on some formulaic basis. They have recently and rapidly come to prominence in policy discussions, yet almost nothing is known about their impact on revenue, investment and efficiency. This paper explores these issues, conceptually and empirically. It finds residual profits to be substantial, but concentrated in a relatively few MNEs, headquartered in few countries. The impact on tax revenue of reallocating excess profits under RPA, while adverse for investment hubs, appears beneficial for lower income countries even when the formula allocates by destination-based sales. The impact on investment incentives is ambiguous and specific both to countries and MNE groups; only if the rate of tax on routine profits is low does aggregate efficiency seem likely to increase.
This paper discusses the design of excess profits taxes (EPTs) that gained renewed interest following the COVID-19 outbreak and the recent surge in energy prices. EPTs can be designed as an efficient tax only falling on economic rent, like an allowance for corporate capital, and drawing some parallels with current proposals for reforming multinationals’ taxation. EPTs can be permanent or temporary as an add-on to the corporate income tax to support revenue during an adverse shock episode. The latter reflects experiences with EPTs during and after the World Wars. Different from that era, though, profit shifting is now a challenge. Estimation using firm-level data suggest that, at present, locations of excess profit across countries are consistent with profit shifting practices by multinationals. Destination-based EPTs can address this concern. Estimates suggest that a 10 percent EPT on the globally consolidated accounts of multinationals (on top of the current corporate income tax), with the EPT base being allocated using sales, raises global revenue by 16 percent of corporate income tax revenues. The analysis suggests that international coordination would be desirable to mitigate the risks of profit shifting and tax competition. Eventually, EPTs could mark an evolution of corporate taxation toward a non-distortionary rent tax.
This book examines the political order and the issues, processes and approaches in applying governance insights to tourist destinations. The book consists of 16 chapters presented in three parts. Part I introduces the reader to the issues and considerations of tourist destination governance. The four chapters in this part address the diversity of questions of relevance around regional destination development, community involvement, responsiveness and future outcomes of governance in the context of tourism. This includes an exploration of a variety of challenges regarding governance in emerging tourist destinations within the Greater Mekong in Asia, the conflicts in governance within a regional community in Scotland which has had a long history of golf tourism, the development of a typology of issues and pressures that affect tourist destination governance and the role of knowledge in good governance for tourist destinations. Part II explores the complexities and considerations of decision making and the significant role it plays in its specific relevance to tourist destination governance and tourism development within regional communities. In acknowledging that tourist destination development may involve contentious, complicated and arduous processes, this part recognizes that decision making has a prominent role to play in achieving effectiveness in governance. The three chapters in this part examine tourist destination decision making during times of crisis in Thailand, stakeholder roles in governance and decision making for a wildlife tour in Tonga, and the utilization of community involvement and empowerment as keys to success in regional tourist destinations. Part III provides further understanding regarding the approaches and solutions of tourist destination governance. This includes aspects of structural change, community engagement, networks and collaborations in the context of destinations. The five chapters in this part include the exploration of a process of governance change within a broader mountain tourist destination in Switzerland, utilizing effective networks as assistance to governance in destinations, community-based tourism governance solutions in a case study in Thailand and insights from complexity, network and stakeholder theories as approaches, including an understanding of a micro-macro context of tourist destination governance at its local/regional and national level. The concluding chapter examines the theory and methodology of governance studies, provide insights for tourist destination managers and researchers, and identify opportunities for further research into destination governance issues. This chapter discusses the application of governance concepts to other countries' governance and issues of conceptual importance, such as the need for ideology in the discussion of governance. This raises the question: does good governance of a tourist destination have to be based on democratic principles? Finally, the chapter looks at the concept of governance effectiveness.
The policy paper Corporate Taxation in the Global Economy stresses the need to maintain and build on the progress in international cooperation on tax matters that has been achieved in recent years, and in some respects now appears under stress. With special attention to the circumstances of developing countries, the paper identifies and discusses various options currently under discussion for the international tax system to ensure that countries, and in particular low-income countries, can continue to collect corporate tax revenues from multinational activities.
Tourism continues to grow, and as the industry develops, it is important for researchers and practitioners to fully understand and examine issues such as sustainability, competiveness, and stakeholder quality of life in tourism centres around the world. Focusing on the unique perspective of island tourism destinations, this book outlines impacts on, and potential strategies for protecting, the natural environment, local economy, and local culture. A timely and important read for researchers, students and practitioners of tourism, this book also provides a valuable resource for researchers of sustainability and environmental science.
The book aims at providing an overview of the main economic issues related to tourism activities. While tourism is an important sector, contributing to more than 10% of the European Union’s GDP, research and teaching at the university level has only recently grown to a considerable level, and the field still lacks a firm research methodology. This book approaches tourism economics as an applied field of study in which tourism markets are represented as imperfect markets, with asymmetric and incomplete information among agents, bounded rationality, and with a strong presence of externalities and public goods. The economic issues studied in the book are approached both intuitively, largely using examples and case studies, and formally, with mathematical formalizations in text boxes.
Highly digitalised businesses threaten the viability of the international corporate tax system. Can a new system overcome these challenges?