Corporate tax systems, multinational enterprises, and economic integration
研究经济一体化如何影响跨国企业的转让定价、税收政策和社会福利，比较了公式分配法与单独核算两种税制下的不同效果。
ABSTRACT: This paper studies how economic integration affects transfer pricing, tax policy, and welfare when multinationals are taxed either according to formula apportionment (FA) or separate accounting (SA). It is shown that economic integration induces multinationals to lower their transfer prices under both tax systems, but that transfer prices become less tax sensitive under FA than under SA. A main result of the paper is that economic integration lowers tax rates in the Nash equilibrium under SA, but leads to higher taxes in the Nash equilibrium under FA.