Corporate Tax Reform From Income To Cash Flow Taxes PDF Download
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Author | : Benjamin Carton |
Publisher | : International Monetary Fund |
Total Pages | : 34 |
Release | : 2019-01-16 |
Genre | : Business & Economics |
ISBN | : 1484390083 |
Download Corporate Tax Reform: From Income to Cash Flow Taxes Book in PDF, ePub and Kindle
This paper uses a multi-region, forward-looking, DSGE model to estimate the macroeconomic impact of a tax reform that replaces a corporate income tax (CIT) with a destination-based cash-flow tax (DBCFT). Two key channels are at play. The first channel is the shift from an income tax to a cash-flow tax. This channel induces the corporate sector to invest more, boosting long-run potential output, GDP and consumption, but crowding out consumption in the short run as households save to build up the capital stock. The second channel is the shift from a taxable base that comprises domestic and foreign revenues, to one where only domestic revenues enter. This leads to an appreciation of the currency to offset the competitiveness boost afforded by the tax and maintain domestic investment-saving equilibrium. The paper demonstrates that spillover effects from the tax reform are positive in the long run as other countries’ exports benefit from additional investment in the country undertaking the reform and other countries’ domestic demand benefits from improved terms of trade. The paper also shows that there are substantial benefits when all countries undertake the reform. Finally, the paper demonstrates that in the presence of financial frictions, corporate debt declines under the tax reform as firms are no longer able to deduct interest expenses from their profits. In this case, the tax shifting results in an increase in the corporate risk premia, a near-term decline in output, and a smaller long-run increase in GDP.
Author | : Jack M. Mintz |
Publisher | : World Bank Publications |
Total Pages | : 50 |
Release | : 1989 |
Genre | : Cash flow |
ISBN | : |
Download Cash Flow Or Income? Book in PDF, ePub and Kindle
Author | : Emil McKee Sunley |
Publisher | : World Bank Publications |
Total Pages | : 47 |
Release | : 1989 |
Genre | : Capital movements |
ISBN | : |
Download The Treatment of Companies Under Cash Flow Taxes Book in PDF, ePub and Kindle
Cash flow taxes eliminate many of the problems of the corporate income tax, but they have significant administrative, transitional, and international problems, especially for developing countries.
Author | : OECD |
Publisher | : OECD Publishing |
Total Pages | : 174 |
Release | : 2007-11-13 |
Genre | : |
ISBN | : 9264038124 |
Download OECD Tax Policy Studies Fundamental Reform of Corporate Income Tax Book in PDF, ePub and Kindle
Presents the recent trends in the taxation of corporate income in OECD countries, discusses the main drivers of corporate income tax reform and evaluates the gains of fundamental corporate tax reform.
Author | : Henry Aaron |
Publisher | : Brookings Institution Press |
Total Pages | : 160 |
Release | : 2010-12-01 |
Genre | : Business & Economics |
ISBN | : 0815705514 |
Download Assessing Tax Reform Book in PDF, ePub and Kindle
Reform of the United States tax system has become a central political issue. Assessing Tax Reform is a concise, nontechnical book to help general readers and students understand the tax reform issues Congress is now debating. Henry Aaron and Harvey Galper lay out the major alternative proposals and analyze principles of taxation that can be used for judging them. They explore the issues surrounding a move to a comprehensive income tax, a cash-flow tax, and the value-added tax or other consumption-based taxes. They show the conflicts and opportunities resulting from large current government deficits and the move for tax reform. In addition to clarifying the problems that must be solved if large-scale, long-term reform is to be achieved, the authors describe alternative strategies for increasing revenues quickly. They also present their own program for a fair, efficient, and less complex tax structure. They conclude with an examination of the political pitfalls that continue to make any major improvements in the tax system hard to enact.
Author | : United States. Congress. House. Committee on Ways and Means |
Publisher | : |
Total Pages | : 176 |
Release | : 1973 |
Genre | : Taxation |
ISBN | : |
Download General Tax Reform: Tax treatment of capital recovery (investment credit, accelerated depreciation and amortization) Book in PDF, ePub and Kindle
Author | : Mervyn A. King |
Publisher | : |
Total Pages | : 48 |
Release | : 1986 |
Genre | : Cash flow |
ISBN | : |
Download The Cash Flow Corporate Income Tax Book in PDF, ePub and Kindle
Terms of potential and administrative and practical problems of.
Author | : |
Publisher | : World Bank Publications |
Total Pages | : 25 |
Release | : |
Genre | : |
ISBN | : |
Download Notes on Cash - Flow Taxation Book in PDF, ePub and Kindle
Author | : United States. Department of the Treasury |
Publisher | : |
Total Pages | : 248 |
Release | : 1977 |
Genre | : Electronic government information |
ISBN | : |
Download Blueprints for Basic Tax Reform Book in PDF, ePub and Kindle
Author | : Richard B. Goode |
Publisher | : |
Total Pages | : 164 |
Release | : 1984 |
Genre | : Business & Economics |
ISBN | : |
Download Options for Tax Reform Book in PDF, ePub and Kindle