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1 Scott A. Hodge, Contrary to Fair Share Claims, Businesses Are Central to Tax Collection Systems 1 (2018)

handle is hein.taxfoundation/ctfscb0001 and id is 1 raw text is: FISCAL FACT No. 588 May 2018 The Tax Foundation is the nation's leading independent tax policy research organization. Since 1937, our research, analysis, and experts have informed smarter tax policy at the federal, state, and local levels. We are a 501(c)(3) nonprofit organization. @2018 Tax Foundation Distributed under Creative Commons CC-BY NC 4.0 Editor, Rachel Shuster Designer, Dan Carvajal Tax Foundation 1325 G Street, NW, Suite 950 Washington, DC 20005 202.464.6200 taxfoundation.org Contrary to Fair Share Claims, Businesses are Central to Tax Collection Systems Scott A. Hodge President, Tax Foundation Key Findings * Although there is no empirical standard for what constitutes a fair share of the tax burden, tax fairness is often used by leading international organizations, such as the European Commission, and non-governmental organizations (NGOs) such as the Tax Justice Network, to justify higher taxes on businesses and corporations. * Recent studies show that businesses and corporations contribute significantly to government coffers through the taxes they are legally liable to pay and the taxes they are required to collect and remit on behalf of others. * A recent study by the Organisation for Economic Co-operation and Development (OECD) found that corporations and businesses pay an average of 33.5 percent of the total taxes collected by 24 leading OECD countries. * The Czech Republic has the most business dependent tax system, with businesses contributing 52 percent of all collections. Six countries receive more than 40 percent of their total revenues from business-Austria, France, Italy, the Netherlands, Poland, and Spain. * Another study by international economists found that corporations and multinational enterprises paid a total of $3.2 trillion in taxes to developing nations, nearly half of their total tax collections. * Policymakers must be careful about trying to raise the tax burden on businesses because the ultimate economic burden of these tax hikes will ultimately fall on workers through lower wages, shareholders through lower returns, or consumers through higher prices or fewer goods.

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