Question
In 2000, Germany introduced a major tax reform. Under the new law, corporations pay a rate of 25 percent on retained earnings and 30 percent
In 2000, Germany introduced a major tax reform. Under the new law, corporations pay a rate of 25 percent on retained earnings and 30 percent on earnings that are distributed to shareholders Further, under the personal income tax, dividends are taxed at half rate of ordinary income. Does this law make sense from the standpoint of the Haig-Simons definition of income?
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Managerial Accounting Tools for business decision making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
6th Edition
978-0470477144, 1118096894, 9781118214657, 470477148, 111821465X, 978-1118096895
