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Discuss the case for and against corporation tax harmonisation Corporation tax is a direct levy that companies pay on their profits. Since April 1st 1999 the main rate of corporation tax in the UK has been 30%, but there are also lower rates for smaller companies. At the moment governments have the sole responsibility of setting direct tax rates, while the EU has some influence over the setting of indirect tax rates such as excise duties. However for further European Economic Integration, tax uniformity may be necessary if there is to be a genuinely free movement of goods, services, labour and capital, as provided for in the Single European Act. If tax uniformity does not exist the freedom of movement will be constrained as some regions will have tax advantages over others, and will therefore be more attractive to multinational companies when making plant location decisions. This represents an imperfection in...

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