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49 Tax L. Rev. 615 (1993-1994)
The Taxation of Inward Direct Investment in North America Following the Free Trade Agreement

handle is hein.journals/taxlr49 and id is 625 raw text is: The Taxation of Inward Direct Investment in North America Following the Free Trade Agreement MALCOLM GAMMIE* I. Introduction .............................................. 617 I. The Impact of NAFrA on Foreign Direct Investment ... 618 A. The Development of Free Trade Between NAFTA Countries ............................................ 618 B. NAFrA's Relevance to the Taxation of Foreign Direct Investment .................................... 621 C. The Impact of NAFTA on Cross Border Taxation Arrangements ........................................ 623 III. The Impact of Corporate Taxes on Investment D ecisions ................................................. 625 A. Calculating the Effect of Corporate Taxes on Investment ................................. 625 1. Taxation and Business Investment Decisions ..... 625 2. Marginal Effective Tax Wedges ................... 626 3. Marginal Investments ............................. 627 B. The Role of Corporate Tax Systems .................. 628 1. The Function of a Corporate Income Tax ........ 628 2. The Implications of Globalization for Tax Policy. 629 C. Evaluating Tax Systems Internationally .............. 631 1. Capital Import and Export Neutrality ............ 631 2. Calculating International Tax Distortions ......... 632 D. The Impact of Taxation on the Location of Investment ........................................... 633 1. The Distorting Effect of Differences in Corporate Tax Systems on Location Decisions ............... 633 2. The Impact of Taxation on Location Decisions... 634 IV. The Development of Tax Regimes in NAFTA Countries. 636 A. Introduction .......................................... 636 B. The European Background ........................... 637 1. Treaty Provisions ................................. 637 * Tax Partner, Linklaters & Paines, London. I am grateful to my colleagues, Andrew Turner and Mark Lusher, for their assistance with this Article. 615 Imaged with the Permission of N.Y.U. Tax Law Review

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