Download or read book On Noncooperative Capital Income Taxation in Open Economies written by Kenneth Kletzer and published by International Monetary Fund. This book was released on 1990-08-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the strategic use of capital income taxation and lump-sum fiscal policies for gaining national advantage in an integrated world capital market. Each fiscal authority seeks to maximize a social welfare function defined over the utilities of home country residents incorporating national redistributing objectives. A national optimum policy is to impose a non-discriminatory source-based capital income tax or subsidy along with an optimal lump-sum tax and transfer plan. Residence-based capital income taxes do not augment the set of lump-sum fiscal instruments, although both policies can be used to influence the world interest rate to national advantage, redistributing welfare internationally. When unrestricted lump-sum fiscal policies are unavailable, source-based capital income taxes may be needed to achieve distributional objectives, so that departures from global production efficiency can arise in a cooperative equilibrium.

Download or read book On Noncooperative Capital Income Taxation in Open Economies written by Kenneth M. Kletzer and published by . This book was released on 2006 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the strategic use of capital income taxation and lump-sum fiscal policies for gaining national advantage in an integrated world capital market. Each fiscal authority seeks to maximize a social welfare function defined over the utilities of home country residents incorporating national redistributing objectives. A national optimum policy is to impose a non-discriminatory source-based capital income tax or subsidy along with an optimal lump-sum tax and transfer plan. Residence-based capital income taxes do not augment the set of lump-sum fiscal instruments, although both policies can be used to influence the world interest rate to national advantage, redistributing welfare internationally. When unrestricted lump-sum fiscal policies are unavailable, source-based capital income taxes may be needed to achieve distributional objectives, so that departures from global production efficiency can arise in a cooperative equilibrium.

Download or read book Capital Income Taxation and Economic Growth in Open Economies written by Geremia Palomba and published by . This book was released on 2004 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Capital Income Taxation in Open Economies written by Jiming Ha and published by . This book was released on 1993 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Can Capital Income Taxes Survive in Open Economies written by Roger Hall Gordon and published by . This book was released on 1990 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent theoretical work has argued that a small open economy should use residence-based but not source-based taxes on capital income. Given the ease with which residents can evade domestic taxes on foreign earnings from capital, however, a residence-based tax may not be administratively feasible, leaving no taxes on capital income.

Download or read book The Incidence of Taxes on Income from Capital in an Open Economy written by Arnold C. Harberger and published by . This book was released on 1982 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Vanishing Tax on Capital Income in the Open Economy written by Assaf Razin and published by . This book was released on 1991 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The increased integration of the world capital market implies that the supply of capital becomes more elastic, and therefore potentially a less efficient base for taxation. In general, the optimal taxation of capital income is subject to two conflicting forces. On the one hand the return on existing capital is a pure rent which is efficient to fully tax away. On the other hand taxing the returns on investment in new capital would retard growth, thus generating inefficiencies. Capturing these considerations, the paper carries out a simple optimal tax analysis for an open economy, which is fully integrated in the world capital markets. The analysis identifies well defined circumstances in which the capital income tax vanishes.

Download or read book On Noncooperative Capital Income Taxatation in Open Economies written by Kenneth M. Kletzer and published by . This book was released on 1990 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Capital Income Taxation and the Current Account in a Small Open Economy written by Yasushi Iwamoto and published by . This book was released on 1989 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Dimensions of Tax Design written by James A. Mirrlees and published by Oxford University Press. This book was released on 2010-04-29 with total page 1360 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Review was chaired by Nobel Laureate Professor Sir James Mirrlees of the University of Cambridge and the Chinese University of Hong Kong. --

Download or read book Capital Income Taxation in Growing Open Economies written by Arij Lans Bovenberg and published by . This book was released on 1985* with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Status of Capital Income Taxation in the Open Economy written by Assaf Razin and published by . This book was released on 1994 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Welfare Effects of Tax Policy in Open Economies written by Jinill Kim and published by . This book was released on 2003 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Can Capital Income Taxes Survive in Open Economies written by Roger H. Gordon (Economy : Taxes.) and published by . This book was released on 1990 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book International Tax Competition written by Miltiadis Makris and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A model is investigated in which small open economies choose the degree of information exchange among tax authorities and an unrestricted set of capital income taxes. The author shows that cooperation in information sharing does not matter in equilibrium outcomes. This comes in striking contrast to existing results and the common belief among policy practitioners. The reason for this result is that if the set of distortionary taxes is unrestricted then, depending on the characteristics of the economy, either information sharing becomes redundant or the non-cooperative equilibrium is characterized by zero information exchange and overprovision of information.

Download or read book Can capital income taxes survive in open economies written by Roger H. Gordon and published by . This book was released on 1990 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Balancing Act Weighing the Factors Affecting the Taxation of Capital Income in a Small Open Economy written by M.K. McKeehan and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Alternative economic theories yield dramatically different prescriptions for optimal capital taxation in small open economies. On the one hand, foreign firms, including those with investments that yield firm-specific above-normal returns, have a large number of alternative investment opportunities; this suggests that the supply of foreign direct investment is highly elastic, which implies that small open economies should avoid imposing any source-based taxes on capital income. On the other hand, governments invariably want to tax any above-normal returns earned by location-specific capital, especially if the returns accrue to foreigners, and to take full advantage of the potential revenue increase from any "treasury transfer" effect that arises due to residence-based tax systems with foreign tax credits, such as that utilized by the USA. These factors suggest that investment is highly inelastic with respect to capital taxation, so that source-based capital income taxation is desirable; indeed, in one special case, the capital income tax rate for a small open economy should equal the relatively high US tax rate. Moreover, this difficult trade-off is in practice complicated by numerous additional factors: deferral of unrepatriated profits and cross-crediting of foreign tax credits for the US multinationals, foreign direct investment from firms from countries that, unlike the USA, operate territorial systems, and the existence of opportunities for both international capital income shifting and labour income shifting. In this paper, the authors analyze optimal capital income taxation in a small open economy model that attempts to balance these conflicting factors.