Taxing Profit in a Global Economy

About the Event

Watch the launch of an exciting new book by Michael Devereux, Alan Auerbach, Michael Keen, Paul Oosterhuis, Wolfgang Schön, and John Vella.

Evan Davis, BBC

Michael Devereux, Oxford 


About the Book

Taxing Profit in a Global Economy undertakes a fundamental review of the existing international system of taxing business profit. It steps back from the current political debates on how to combat profit shifting and how taxing rights over the profits of the digitalized economy should be allocated. Instead, it starts from first principles to ask how we should evaluate a tax on business profit - and whether there is any good rationale for such a tax in the first place. It then goes on to evaluate the existing system and a number of alternatives that have been proposed. It argues that the existing system is fundamentally flawed, and that there is a need for radical reform. A key conclusion from the analysis is that there would be significant gains from a reform that moved the system towards taxing profit in the country in which a business made its sales to third parties.

  • Written by a group of leading academics and practitioners from law and economics, addressing fundamental issues of principle and practice in the taxation of business profit and the allocation of taxing rights over such profit among countries
  • Evaluates the existing regime and commonly discussed reform options
  • Develops and evaluates two further reform options following the prescriptions derived from first principles

About the Authors

Michael P. Devereux is Director of the Oxford University Centre for Business Taxation, Professor of Business Taxation at the Saïd Business School, University of Oxford and Professorial Fellow at Oriel College, Oxford.

Alan J. Auerbach is Robert D. Burch Professor of Economics and Law, and Director of the Burch Center for Tax Policy and Public Finance at the University of California, Berkeley.

Michael Keen is Deputy Director of the Fiscal Affairs Department of the International Monetary Fund.

Paul Oosterhuis is Of Counsel, International Tax in the Washington, DC office of Skadden, Arps, Slate, Meagher & Flom.

Wolfgang Schön is the Managing Director of the Max Planck Institute for Tax Law and Public Finance in Munich and Honorary Professor at Munich University.

John Vella is Professor of Law at the University of Oxford, Assistant Director of the Oxford University Centre for Business Taxation, and a Fellow of Harris Manchester College, Oxford.

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Taxing Profit in a Global Economy front cover

Related information

ISBN: 9780198808077

Publisher: Oxford University Press

Purchase the book

Taxing Profit in a Global Economy is also available to purchase in paperback, hardcover, or as an ebook. 

Order online at with promotion code ALAUTHC4 to save 30%

Watch the recording

The book launch was recorded and is now available to view on YouTube