Unlike other rich countries, Japan does not have a consolidated tax system in which companies in a group are taxed as a single unit.

ECONOMIST: Tax reform runs late

Nor are tax bureaucrats keen on introducing a consolidated tax system.

ECONOMIST: Tax reform runs late

The proposed Common Consolidated Corporate Tax Base (CCCTB) is being seen as a way of reducing red tape for companies operating in more than one EU country.

BBC: Corporate tax debate

The company said its consolidated rate reflected lower tax rates on foreign earnings and tax credits for investments that created jobs.

WSJ: Apple Pays No Tax on Much of Its Overseas Income, Senate Panel Finds

Then in the 1986 tax reform, he consolidated all the lower rates into a single 15% rate, effectively the income tax rate for the middle class.

FORBES: Reaganomics Vs. Obamanomics: Fallacies Offered By The Left

After completion, Pearson will report its 47% share of profit after tax from the joint venture as an associate in its consolidated income statement.

ENGADGET: Penguin and Random House merge, promise a brave new e-book future

This is curious: consolidated taxes might actually increase revenues because big companies could no longer take advantage of small firms' tax breaks.

ECONOMIST: Tax reform runs late | The

The MPs criticise the decision to change council tax benefit at a time when the entire welfare system is being overhauled - and many individual benefits consolidated into a single Universal Credit.

BBC: MPs warn over council tax benefit changes