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Increasing taxes on multinational corporations
Increasing taxes on multinational corporations
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages
Description/Paper Instructions
Increasing taxes on multinational corporations
Multinational corporations (MNCs) are businesses that operate in multiple countries and often have a significant impact on the global economy. Governments have long debated the appropriate tax regime for MNCs, as they seek to balance the need to raise revenue with the desire to attract investment and job creation.
One argument for increasing taxes on MNCs is that they are often able to take advantage of tax loopholes and aggressive tax planning strategies, which enable them to reduce their effective tax rate and minimize their tax bill. For example, they may transfer profits to tax-friendly jurisdictions, use transfer pricing arrangements to artificially reduce their taxable presence in high-tax countries, or make use of tax incentives offered by governments seeking to attract investment.
By increasing taxes on MNCs, governments can help to reduce these tax avoidance practices and increase their overall tax take. This can help to fund important public goods and services, such as infrastructure, health care, and education, and improve the overall living standards of citizens.
Another argument for higher taxes on MNCs is that they are often in a much stronger financial position than domestic businesses, and therefore better able to bear the costs of higher taxes. This can help to reduce the tax burden on small and medium-sized enterprises (SMEs), which are often more vulnerable to changes in the tax regime.
Moreover, increasing taxes on MNCs can also help to address issues of tax fairness. At present, the global tax system is heavily skewed in favor of MNCs, which are able to take advantage of the fragmented nature of the international tax regime to minimize their tax bills. This means that citizens in high-tax countries often bear a disproportionate burden of the tax system, while MNCs are able to reduce their effective tax rates and pay a much lower share of their profits in tax.
However, there are also arguments against increasing taxes on MNCs. One concern is that higher taxes may discourage investment and job creation, as MNCs may choose to locate their operations in countries with lower tax regimes. This could result in a loss of economic activity and employment in high-tax countries, which would be damaging to their economies.
Additionally, there are concerns that higher taxes on MNCs could harm their competitiveness, as they may struggle to compete with businesses based in countries with lower tax regimes. This could lead to reduced innovation and growth, as MNCs are often key drivers of technological advancement and economic growth.
In conclusion, the decision to increase taxes on MNCs is a complex one that requires careful consideration of the potential benefits and costs. On the one hand, higher taxes can help to address issues of tax avoidance, reduce the tax burden on SMEs, and increase tax fairness. On the other hand, higher taxes may discourage investment and job creation, harm competitiveness, and reduce economic growth.
Given these trade-offs, the best approach to taxing MNCs is likely to be a balanced one that seeks to find a reasonable compromise between the competing interests of governments, MNCs, and citizens. This may involve measures such as the implementation of a minimum effective tax rate for MNCs, the introduction of anti-tax avoidance measures, and the strengthening of international cooperation on tax issues. Ultimately, the goal should be to create a tax regime that is fair, efficient, and supportive of economic growth and job creation, while also providing adequate funding for public goods and services.
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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