Bring On Tax Reform In Europe
Buy a midsize Mercedes in Haderslev, Denmark, and you'll pay more than $90,000, nearly triple the amount you'd pay in Flensburg, Germany, just over 30 miles to the south. Buy Scotch in Sweden, you get hit for $18 in tax, nine times the amount levied in Italy. Such are the contradictions of Europe's crazy quilt of consumer taxes. When it comes to business taxes, the situation is worse. If you're a corporation operating in all 15 of the European Union's nations, you must fill in 15 different corporate tax returns. Worse yet, in some countries you can't offset losses against profits incurred elsewhere in what is supposed to be a single market.
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