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Tax competition, which may lead to a race to the bottom between countries; Base erosion and profit shifting; List of countries by tax rates for a comparison of corporate tax rates around the world, and Tax rates in Europe for just the continent; Corporate haven, a country with low effective tax rates for corporations; World taxation system
The Member States compete rather for real investments than for tax bases. The commission's proposal of a CCCTB could be a solution to the problem of international corporate tax planning within the EU. In particular, the CCCTB eliminates the incentive to shift profits to low-tax countries via transfer pricing or financing.
Map of the world showing national-level sales tax / VAT rates as of October 2019. A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
By 2008, 111 countries had enacted competition laws, which is more than 50 percent of countries with a population exceeding 80,000 people. 81 of the 111 countries had adopted their competition laws in the past 20 years, signaling the spread of competition law following the collapse of the Soviet Union and the expansion of the European Union. [43]
Others point out that tax competition between countries bears no relation to competition between companies in a market: consider, for instance, the difference between a failed company and a failed state—and that while market competition is regarded as generally beneficial, tax competition between countries is always harmful. [9]
A competition regulator is the institution that oversees the functioning of markets. It identifies and corrects practices causing market impediments and distortions through competition law (also known as antitrust law). [1]
The law requires that firms proposing to merge apply for prior approval from the Commission. The European Commission (EC) has exclusive competence over concentrations that meet certain thresholds. This is known as community dimension. A concentration with a turnover of the following will trigger commission jurisdiction.
Competition Commission (Hong Kong) Competition Commission (South Africa) Competition Commission of India; Competition Tribunal (South Africa) Consumer Council of Fiji; D.