Download or read book Tax Reform in Open Economies written by Iris Claus and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Why is There Corporate Taxation in a Small Open Economy written by Roger H. Gordon and published by . This book was released on 1994 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Why is There Corporate Taxation in a Small Open Economy The Role of Transfer Pricing and Income Shifting written by Roger H. Gordon and published by . This book was released on 2009 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Taxation in Small Open Economies written by Arturo Manuel Fernandez-Perez and published by . This book was released on 1986 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Taxation and Endogenous Growth in Open Economies written by Mr.Gian Milesi-Ferretti and published by International Monetary Fund. This book was released on 1994-07-01 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effects of taxation of human capital, physical capital and foreign assets in a multi-sector model of endogenous growth. It is shown that in general the growth rate is reduced by taxes on capital and labor (human capital) income. When the government faces no borrowing constraints and is able to commit to a given set of present and future taxes, it is shown that the optimal tax plan involves high taxation of both capital and labor in the short run. This allows the government to accumulate sufficient assets to finance spending without any recourse to distortionary taxation in the long run. When restrictions to government borrowing and lending are imposed, the model implies that human and physical capital should be taxed similarly.

Download or read book Tax policy in small open economies written by and published by . This book was released on 1994 with total page 179 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 Social Comparisons and Optimal Taxation in a Small Open Economy written by Thomas Aronsson and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Taxation in an Intertemporal General Equilibrium Model of a Small Open Economy written by D. P. Broer and published by . This book was released on 1992 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Tax Policy in the Small Open Economy written by John Earl Floyd and published by University of Toronto, Institute for Policy Analysis. This book was released on 1978 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book On the Optimal Taxation of Capital Income in the Open Economy written by David G. Hartman and published by . This book was released on 1985 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Download or read book Marginal Excess Burdens of Taxes on Capital and on Labour Income in a Small Open Economy written by Matt Benge and published by . This book was released on 1999 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Optimal Capital Income Taxes and Capital Controls in Small Open Economies written by Bernd Huber and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the optimal taxation of capital income in a simple model of a small open economy where domestic residents can evade taxes on their foreign investment income. The national government can only tax domestic capital income and can impose capital controls, which, however, absorb real resources. The design of optimal policy in this model depends on the revenue needs of the government. For relatively low levels of government expenditures, it turns out that the country does not levy capital income taxes but may restrict capital exports. Otherwise, the country taxes domestic capital income and sets capital controls such that capital exports are driven to zero, at an optimum. In contrast to other models with capital controls, it turns out that this policy can lead to underinvestment in domestic capital.

Download or read book Joint Trade Liberalization and Tax Reform in a Small Open Economy written by Denise Konan and published by . This book was released on 1997 with total page 52 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 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 Tax policy in small open economies a commented bibliography written by Peter Birch Sørensen and published by . This book was released on 1995 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: