Trading the Equity Curves

Categorization of corporate taxation in the European Union countries using cluster analysis: a comparative study

“…Among these factors one should name tax rate, tax base, tax evasion from direct taxes, grey economy, the extent of government support through the tax expenses, GDP and economic cycles, the effect of GDP growth rate, fiscal imbalance, and debt service of the country ( Except for abovementioned quantitative indicators, the tax corporate burden is influenced by some qualitative factors which cannot be measured properly. This group of determinants consists of historical and societal factors, as well as political ones, like political atmosphere, political cycle, and priorities of government and legislature (David & Formanova, 2016 [6]; Foremmy & Riedel, 2014 [7]); business environment and business strategies; and the state of nation's economic development (Banociova & Raisova, 2012 [8]; Bobakova & Cepelova, 2014 [9]; Kisela, Virdzek & Vajda, 2015 [10]; Soltes & Gavurova, 2013 [11]; Mura & Buleca, 2012 [12]); geographical location and regional competitiveness (Hrabovska, 2015 [13]). These factors are instrumental for construction of tax policies and legal systems behind the corporate tax construction (to name one example, we may remind of coexistence of continental civil law and British common law within the EU, which directly impact tax competitiveness of different countries within the European Union).…”