Why Is There Corporation Taxation In A Small Open Economy PDF Download
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Author | : Roger H. Gordon |
Publisher | : |
Total Pages | : 22 |
Release | : 1994 |
Genre | : Corporations |
ISBN | : |
Download Why is There Corporate Taxation in a Small Open Economy? Book in PDF, ePub and Kindle
Several recent papers argue that corporate income taxes should not be used by small, open economies. With capital mobility, the burden of the tax falls on fixed factors (e.g., labor), and the tax system is more efficient if labor is taxed directly. However, corporate taxes not only exist but rates are roughly comparable with the top personal tax rates. Past models also forecast that multinationals should not invest in countries with low corporate tax rates, since the surtax they owe when profits are repatriated puts them at a competitive disadvantage. Yet such foreign direct investment is substantial. We suggest that the resolution of these puzzles may be found in the role of income shifting, both domestic (between the personal and corporate tax bases) and cross-border (through transfer pricing). Countries need cash-flow corporate taxes as a backstop to labor taxes to discourage individuals from converting their labor income into otherwise untaxed corporate income. We explore how these taxes can best be modified to deal as well with cross-border shifting.
Author | : Roger H. Gordon |
Publisher | : |
Total Pages | : 35 |
Release | : 2009 |
Genre | : |
ISBN | : |
Download Why is There Corporate Taxation in a Small Open Economy? The Role of Transfer Pricing and Income Shifting Book in PDF, ePub and Kindle
Several recent papers argue that corporate income taxes should not be used by small, open economies. With capital mobility, the burden of the tax falls on fixed factors (e.g., labor), and the tax system is more efficient if labor is taxed directly. However, corporate taxes not only exist but rates are roughly comparable with the top personal tax rates. Past models also forecast that multinationals should not invest in countries with low corporate tax rates, since the surtax they owe when profits are repatriated puts them at a competitive disadvantage. Yet such foreign direct investment is substantial. We suggest that the resolution of these puzzles may be found in the role of income shifting, both domestic (between the personal and corporate tax bases) and cross-border (through transfer pricing). Countries need cash-flow corporate taxes as a backstop to labor taxes to discourage individuals from converting their labor income into otherwise untaxed corporate income. We explore how these taxes can best be modified to deal as well with cross-border shifting.
Author | : Roger Hall Gordon |
Publisher | : |
Total Pages | : |
Release | : 1994 |
Genre | : |
ISBN | : |
Download Why is There Corporation Taxation in a Small Open Economy? Book in PDF, ePub and Kindle
Author | : Iris Claus |
Publisher | : Edward Elgar Publishing |
Total Pages | : 341 |
Release | : 2010-01-01 |
Genre | : Business & Economics |
ISBN | : 1849804990 |
Download Tax Reform in Open Economies Book in PDF, ePub and Kindle
This book brings together research from some of the world s leading tax economists to discuss appropriate directions for tax reform in small open economies. The eminent contributors (including Altshuler, Creedy, Freebairn, Gravelle, Heady, Kalb, Sørensen and Zodrow) investigate the beneficial directions for medium-term tax reform in the light of global developments and lessons from the latest taxation research. In addressing this issue, they review recent advances in both the theoretical and empirical tax literature and reform evidence from individual countries. Topics covered include the impact of taxes on economic performance; international and corporate taxation; personal tax and welfare systems; environmental taxation; and country-specific tax reform experiences. Bringing together leading international experts to explore specific policy reforms, this book will prove essential reading for academics and researchers of public economics, fiscal policy and tax reform. It will also be warmly welcomed both by undergraduate and graduate students of public economics or the economics of taxation, as well as policymakers and government officials working in the area of tax policy.
Author | : Thomas Aronsson |
Publisher | : |
Total Pages | : 0 |
Release | : 2020 |
Genre | : |
ISBN | : |
Download Social Comparisons and Optimal Taxation in a Small Open Economy Book in PDF, ePub and Kindle
In this paper, we analyze how international capital mobility affects the optimal labor and capital income tax policy in a small open economy when consumers care about relative consumption. The main results crucially depend on whether the government can tax returns on savings abroad. If the government can use flexible residence-based capital income taxes, then the optimal policy rules from a closed economy largely carry over to the case of a small open economy. If it cannot, then capital income taxes become completely ineffective. The labor income taxes must then indirectly also reflect the corrective purpose that the absent capital income tax would have had.
Author | : Yasushi Iwamoto |
Publisher | : |
Total Pages | : 48 |
Release | : 1989 |
Genre | : |
ISBN | : |
Download Capital Income Taxation and the Current Account in a Small Open Economy Book in PDF, ePub and Kindle
Author | : Siraj Gustavo Bawa |
Publisher | : |
Total Pages | : 154 |
Release | : 2016 |
Genre | : Corporations |
ISBN | : |
Download Essays on Corporate Taxation in the Open Economy Book in PDF, ePub and Kindle
Author | : D. P. Broer |
Publisher | : |
Total Pages | : 58 |
Release | : 1992 |
Genre | : |
ISBN | : |
Download Taxation in an Intertemporal General Equilibrium Model of a Small Open Economy Book in PDF, ePub and Kindle
A computable general equilibrium model of a small open economy, similar to the Auerbach-Kotlikoff model. An investigation of the effects of partial switches in the choice of tax base from capital or wage income taxation to consumption taxation.
Author | : |
Publisher | : |
Total Pages | : |
Release | : |
Genre | : |
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Download Who Bears the Burden of the Corporate Tax in the Open Economy? Book in PDF, ePub and Kindle
The National Bureau of Economic Research, Inc. presents an abstract of the May 2001 working paper entitled "Who Bears the Burden of the Corporate Tax in the Open Economy?," written by Jane Gravelle and Kent Smetters. The full text of the paper may be purchased online. This paper studies the the long-run incidence of the corporate income tax in an open-economy model calibrated with two economies of the United States and the rest of the world.
Author | : David G. Hartman |
Publisher | : |
Total Pages | : 22 |
Release | : 1985 |
Genre | : Capital gains tax |
ISBN | : |
Download On the Optimal Taxation of Capital Income in the Open Economy Book in PDF, ePub and Kindle
The optimal taxation of foreign and domestic investors' incomes is examined with a simple overlapping-generations model. Even when tax rates are allowed to discriminate between these groups, the optimal tax rates on both domestic and foreign investors' incomes in the small open economy are identical and equal to the optimal rate of tax in the closed economy. In light of the emphasis in the literature on the extent to which the elasticity of international flows might lower optimal capital income taxes, this conclusion is quite a surprise. In the large open economy, the optimal tax rate on foreign investors'income alone is a weighted average of one and the small economy tax rate. The optimal tax rate on domestic income is, again, unaffected by the openness ofthe economy. When a uniform tax rate must be set in the large open economy, it is generally higher than the optimal tax rate for a closed economy, a conclusion contrary to the conventional wisdom. However, a higher elasticity of international capital flows is associated with a lower tax rate, as expected, butthe rate remains above the closed-economy rate. In summary, openness matters for optimal tax policy, primarily in the case of the large economy. The reason is mainly the ability to burden foreign investors with a tax liability