Formulary Apportionment for the Internal Market; Thesis Submitted to the Ludwig Maximilians University of Munich, Faculty of Law in Fulfilment of the Requirements for the Degree of Doctor of Laws; Degree awarded on 9 March 2009

Overview The study is comprised of four parts. First, a theoretical concept of formulary apportionment is presented in order to define the role that formulary apportionment could take in the area of profit allocation within the Internal Market. This is followed by an in-depth evaluation of the practical experiences of four jurisdictions (United States, Canada, Switzerland and Germany) with formulary apportionment at the subnational level. Next, a comprehensive proposal for harmonization on the basis of consolidation and apportionment is developed, using the insights from the foregoing theoretical considerations and comparative analysis. The book concludes with an overall analysis of the merits and drawbacks of the proposed model for harmonization which suggests that consolidation and formulary apportionment could indeed represent a workable solution to numerous problems of corporate taxation within the Internal Market. Main Contents Chapter One: Introduction Chapter Two: Background and Theory Chapter Three: Existing Formulary Apportionment Systems Chapter Four: Formulary Apportionment: Proposals for the European Community Chapter Five: Evaluation of the Proposals Chapter Six: Conclusion About the author Stefan Mayer studied law and qualified as a lawyer in Munich. He received an LL.M. in Taxation from the London School of Economics and Political Science, and has worked as an academic assistant and scholarship holder at the Max Planck Institute for Intellectual Property, Competition and Tax Law (Munich). Currently, Mr Mayer works with the tax department of Latham & Watkins LLP in Munich. About IBFD Academic Council IBFD Doctoral Series is an initiative of IBFD Academic Council, a body established in 2000 to promote the discussion of international tax law at a high academic level and to stimulate the academic activities of IBFD. The Academic Council evaluates projects according to the sole criterion of their academic quality. Its members are appointed from among prominent academics and senior IBFD research staff members.