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Tax Implications of Consolidated Returns Across Borders
Student Name
22nd Sep 2023
Consolidated tax returns allow affiliated corporations to file one combined return instead of separate returns for each entity. This can provide practical benefits like administrative simplicity, avoiding double taxation, and offsetting profits and losses within a corporate group. However, consolidated returns also raise ethical concerns about fairness and transparency.
At the state level, combined reporting through consolidated returns helps avoid tax avoidance through transfer pricing and income shifting among entities in different tax jurisdictions (Mazerov, 2003). However, some view mandated consolidated returns as an...