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THE IMPACT OF TAXATION ON THE INVESTMENT LOCALIZATION DECISION IN THE CONTEXT OF GLOBALIZATION

Keywords: globalization , European Union , taxation , enterprise investment decisions , investment’ “delocalization”.

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Abstract:

This paper presents the impact of the tax policy on the enterprises decisions about the location of investment in the context of globalization. We study this aspect for the European Union, seen like a successful answer to the globalization provocations.First of all we define the globalization and secondly we find that the changes of economic envi-ronment (the creation of Single Market and of the Monetary Union) have added a greater relevance for the tax policy in the investment decision making process, because the fiscal competition (through lower tax levels and fiscal facilities) can determine the investment’ “delocalization” (geographically moving the location of an investment).Finally, we conclude that the taxation plays an important role in the investment decision making process, but an enterprise must take into consideration also other aspects (the infrastructure, the available labour, the legislation, the quality of the local services, etc.) if it wants to be efficient.

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