财务管理外文翻译

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1、毕业论文外文翻译外文来源CatoHandbookforPolicymakersAuthor:DavidBoaz中文译文卡托政策制定者手册：戴维波阿斯部（系）商学部专业姓名学号200901200146指导老师2013年3月15日英文原文Catohandbookforpolicymakersauthor:DavidBoazCorporatetaxreformsDavidBoazCatoinstitute7th Edition 2009CorporateTaxReformsAkeyissuefortaxpolicyintheglobaleconomyishowtodealwi

2、thmultinationalcorporations.Corporatetaxationisimportanttoinvestors,butalsotothelivingstandardsofaverageAmericans.Inaglobalizedeconomy,theburdenofthecorporateincometaxfallsmainlyonworkersintheformoflowerwages.IfcorporationsarenotinvestingintheUnitedStatesduetohightaxes,laborproductivityw

3、illfall,andthatwilldragdownAmericanwages.Comparedwithforeign-basedcorporations,U.S.multinationalcorporationsaresubjecttoparticularlyhightaxratesandcomplicatedtaxrules.TheUnitedStatestaxescorporationsontheirworldwideincome,eventhoughthatincomemayalsobesubjecttotaxesintheforeignnationswher

4、eitisearned.TheU.S.taxcodeprovidescreditstominimizedoubletaxation,butthisisacomplexanduncompetitivemethodofbusinesstaxation.Theworldwidesystemdiscouragestherepatriationofforeignearnings,anditputsU.S.businessesatadisadvantageinforeignmarkets.Bycontrast,two-thirdsofmajornationstaxcorporati

5、onsonaterritorialbasis,whichmeansthattheygenerallydonottaxbusinessincomeearnedoutsidetheirnationalborders.TherewouldbetwokeyadvantagesoftheUnitedStates’switchingfromaworldwidetoaterritorialsystemofbusinesstaxation.First,itwouldendthecurrenttaxbarriertotherepatriationofforeignearnings.Cur

6、rently,repatriatedforeignearningsaresubjecttothe35percentfederalcorporatetax,whichsuppressesprofitrepatriationandthusinvestmentintheUnitedStates.Underaterritorialsystem,businessprofitsearnedabroadwouldberepatriatedfreeofaU.S.taxburden.Second,itwouldhelpmaketheUnitedStatesagoodhomefortheh

7、eadquartersofmultinationalcorporations.Currently,ahightaxrateandtheworldwidetaxsystemmaketheUnitedStatesapoorchoiceforlocatingcorporateheadquarters.IftheUnitedStatesswitchedtoaterritorialsystem,companiescouldearnprofitsabroadwithoutaU.S.taxburdenplacedontopoftheforeigntax