Download or read book International Tax Competition and the Race to the Bottom written by Nicolas Lepage-Saucier and published by . This book was released on 2006 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tax Competition and Foreign Direct Investment written by Assaf Razin and published by . This book was released on 2008 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: A paper about the problems of taxation in a global economy.
Download or read book Tax competition and migration the race to the bottom hypothesis revisited written by Assaf Razin and published by . This book was released on 2011 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The literature on tax competition with free capital mobility cites several reasons for the race-to-the-bottom hypothesis in the sense that tax competition may yield significantly lower tax rates than tax coordination. With a fixed (exogenously given) population that can move from one fiscal jurisdiction to another, the Tiebout paradigm suggests that tax competition among these jurisdictions yields an efficient outcome, so that there are no gains from tax coordination. The Tiebout paradigm considers the allocation of a given population among competing localities. Our model of international tax-transfer and migration competition among host countries deviates from the Tiebout paradigm in that the total population in the host countries and its skill distribution are endogenously determined through migration of various skills. As a result, competition needs not be efficient. This paper suggests that when a group of host countries faces an upward supply of immigrants, tax competition does not indeed lead to a race to the bottom; competition may lead to higher taxes than coordination
Download or read book Catching Capital written by Peter Dietsch and published by Oxford University Press. This book was released on 2015-07-01 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rich people stash away trillions of dollars in tax havens like Switzerland, the Cayman Islands, or Singapore. Multinational corporations shift their profits to low-tax jurisdictions like Ireland or Panama to avoid paying tax. Recent stories in the media about Apple, Google, Starbucks, and Fiat are just the tip of the iceberg. There is hardly any multinational today that respects not just the letter but also the spirit of tax laws. All this becomes possible due to tax competition, with countries strategically designing fiscal policy to attract capital from abroad. The loopholes in national tax regimes that tax competition generates and exploits draw into question political economic life as we presently know it. They undermine the fiscal autonomy of political communities and contribute to rising inequalities in income and wealth. Building on a careful analysis of the ethical challenges raised by a world of tax competition, this book puts forward a normative and institutional framework to regulate the practice. In short, individuals and corporations should pay tax in the jurisdictions of which they are members, where this membership can come in degrees. Moreover, the strategic tax setting of states should be limited in important ways. An International Tax Organisation (ITO) should be created to enforce the principles of tax justice. The author defends this call for reform against two important objections. First, Dietsch refutes the suggestion that regulating tax competition is inefficient. Second, he argues that regulation of this sort, rather than representing a constraint on national sovereignty, in fact turns out to be a requirement of sovereignty in a global economy. The book closes with a series of reflections on the obligations that the beneficiaries of tax competition have towards the losers both prior to any institutional reform as well as in its aftermath.
Download or read book Race to the Top and Race to the Bottom Tax Competition in Rural China written by Xiaobo Zhang and published by Intl Food Policy Res Inst. This book was released on 2008 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Tax Competition written by Rajiv Biswas and published by Commonwealth Secretariat. This book was released on 2002 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many Commonwealth developing countries are potentially affected by the EU and OECD initiatives to regulate international tax competition. These articles by experts from Commonwealth countries discuss the concerns of affected nations, covering globalisation, fiscal sovereignty, WTO issues and more.
Download or read book International Tax Policy written by Tsilly Dagan and published by Cambridge University Press. This book was released on 2017-12-14 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bringing a unique voice to international taxation, this book argues against the conventional support of multilateral co-operation in favour of structured competition as a way to promote both justice and efficiency in international tax policy. Tsilly Dagan analyses international taxation as a decentralised market, where governments have increasingly become strategic actors. While many of the challenges of the current international tax regime derive from this decentralised competitive structure, Dagan argues that curtailing competition through centralisation is not necessarily the answer. Conversely, competition - if properly calibrated and notwithstanding its dubious reputation - is conducive, rather than detrimental, to both efficiency and global justice. International Tax Policy begins with the basic normative goals of income taxation, explaining how competition transforms them and analysing the strategic game states play on the bilateral and multilateral level. It then considers the costs and benefits of co-operation and competition in terms of efficiency and justice.
Download or read book A Partial Race to the Bottom written by S. M. Ali Abbas and published by International Monetary Fund. This book was released on 2012-01-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assembles a new dataset on corporate income tax regimes in 50 emerging and developing economies over 1996-2007 and analyzes their impact on corporate tax revenues and domestic and foreign investment. It computes effective tax rates to take account of complicated special regimes, such as partial tax holidays, temporarily reduced rates and increased investment allowances. There is evidence of a partial race to the bottom: countries have been under pressure to lower tax rates in order to lure and boost investment. In the case of standard tax systems (i.e. tax rules applying under normal circumstances), the effective tax rate reductions have not been larger than those witnessed in advanced economies, and revenues have held up well over the sample period. However, a race to the bottom is evident among special regimes, most notably in the case of Africa, creating effectively a parallel tax system where rates have fallen to almost zero. Regression analysis reveals higher tax rates adversely affect domestic investment and FDI, but do raise revenues in the short-run.
Download or read book Tax Competition in East Africa a Race to the Bottom written by ActionAid International and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Governments in East Africa are providing a wide range of tax incentives to businesses to attract greater levels of foreign direct investment (FDI) into their countries. Such incentives include corporate income tax holidays, notably in export processing zones, and reductions from the standard rate for taxes such as import duties and VAT. Yet this study, which focuses on Kenya, Uganda, Tanzania and Rwanda, shows that such tax incentives are leading to very large revenue losses for governments, are promoting harmful tax competition in the region, and are not needed to attract FDI.
Download or read book Tax Competition and the Myth of the race to the Bottom written by Vera Troeger and published by . This book was released on 2013 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Global Tax Revolution written by Chris R. Edwards and published by Cato Institute. This book was released on 2008 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction -- Capital explosion -- Tax cut revolution -- Flat tax club -- Mobile brains and mobile wealth -- Taxing businesses in the global economy -- The economics of tax competition -- The battle for freedom and competition -- The moral case for tax competition -- Options for U.S. policy.
Download or read book International tax competition written by and published by . This book was released on 2013 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Winners and Losers of Tax Competition in the European Union written by Enrique G. Mendoza and published by . This book was released on 2003 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper quantifies the macroeconomic effects of capital income tax competition in the European Union using a two-country neoclassical dynamic general equilibrium model. This model incorporates three key externalities of tax competition: the relative price externality, the wealth distribution externality and the fiscal solvency externality. We consider tax strategies limited to the class of time-invariant taxes and allow governments to issue debt to smooth the tax burden. The analysis starts from a pre-tax-competition equilibrium calibrated to represent the United Kingdom and Continental Europe (France, Germany and Italy) using data from the early 1980s, just before the European integration of financial markets. When labor taxes adjust to maintain fiscal solvency, competition does not trigger a race to the bottom' in capital taxes. The UK makes a large welfare gain and cuts its capital tax. Continental Europe increases both labor and capital taxes and suffers a large welfare loss. These results are consistent with evidence showing that over the last two decades the UK lowered its capital tax, while Continental Europe increased both capital and labor taxes. When consumption taxes adjust to maintain fiscal solvency, there is a race to the bottom' in capital taxes but both the UK and Continental Europe are better off than in the pre-tax-competition equilibrium. The gains from coordination in all of these experiments are trivial"--NBER website
Download or read book Winning the Tax Wars written by Brigitte Alepin and published by Kluwer Law International B.V.. This book was released on 2016-04-24 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past few decades, the concentration of wealth and property in the hands of a few has been facilitated by tax evasion, tax avoidance, and above all by tax competition. Fortunately, a determined move toward international cooperation among tax authorities is gathering its forces to do battle. This invaluable book shows how the globalization of trade, the digitization of the economy, tax competition between sovereign states, the erosion of the tax base, and the transfer of pro ts have all revealed the weaknesses of a traditional tax system that has reached its limits, and how numerous states and groups of states have joined efforts in creating a new international tax system designed to restore fairness and stability in the levying of taxes worldwide. Stemming from a 2016 conference initiated by the Canadian non-pro t organization TaxCOOP, convened by the World Bank and bringing together well-known taxation experts from prominent international organizations, the book presents outstanding contributions highlighting the impacts of tax competition and viable solutions. Among the issues and topics covered are the following: – electronic commerce and electronic money; – transfer pricing; – derivatives and hedge funds; – protecting tax whistle-blowers; – offshore tax investigations; – possibility of an international tax court; – impact of tax competition on developing countries; – carbon pricing; – tobacco taxation; and – effective taxation of the ultra-wealthy and their nancial capital. The chapters include details of country experiences and results, in some cases analyzed by key protagonists themselves. Collectively, the contributions take a giant step toward reinforcing the power of sovereign states in sectors such as the environment, education, and health. As an authoritative guide to increasing the level of transparency and accountability of private and public economic actors and restoring citizens’ trust in the fairness of our global governance systems, this peerless volume will be warmly welcomed by tax lawyers, taxation authorities, and interested academics worldwide.
Download or read book Global Tax Fairness written by Thomas Pogge and published by Oxford University Press. This book was released on 2016-02-04 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses sixteen different reform proposals that are urgently needed to correct the fault lines in the international tax system as it exists today, and which deprive both developing and developed countries of critical tax resources. It offers clear and concrete ideas on how the reforms can be achieved and why they are important for a more just and equitable global system to prevail. The key to reducing the tax gap and consequent human rights deficit in poor countries is global financial transparency. Such transparency is essential to curbing illicit financial flows that drain less developed countries of capital and tax revenues, and are an impediment to sustainable development. A major break-through for financial transparency is now within reach. The policy reforms outlined in this book not only advance tax justice but also protect human rights by curtailing illegal activity and making available more resources for development. While the reforms are realistic they require both political and an informed and engaged civil society that can put pressure on governments and policy makers to act.
Download or read book The Merits of Tax Competition in a Globalized Economy written by David Elkins and published by . This book was released on 2016 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the turn of the current century, leading transnational organizations and academic scholarship have identified tax competition among countries as one of the scourges of the international tax regime. Both the EU and the OECD have warned that tax competition erodes the tax bases of Member States and impedes their ability to provide essential services. Commentators have argued that unrestrained competition is driving tax rates on mobile sources of income to (or close to) zero, a process that jeopardizes the very existence of the welfare state, exacerbates problems of global poverty, and deprives developing countries of funds that they desperately need in order to improve their physical infrastructure and human capital. Tax competition is also said to misallocate economic resources by driving investment to where the tax rate is lowest rather than to where the return on investment is highest.Most proposals for reform suggest that, to one extent or another, countries harmonize their tax policies with the aim of mitigating the threat of mutually harmful tax competition. One prevalent theme in reform proposals is that countries be prohibited from offering foreign investors a more lenient tax regime than that which applies to their own residents (“ring fencing”). The argument is that ring fencing is a predatory form of tax competition that allows foreign investors to benefit from government services for which they do not pay, erodes the tax base of other countries, and, by encouraging other countries to follow suit, instigates a “race to the bottom” to the detriment of all.This Article argues that, not only is international tax competition inevitable, but that free and fair tax competition, far from misallocating resources, is necessary in order to allocate resources efficiently and to maximize global welfare. It argues that limiting tax competition, particularly by restricting ring fencing, will likely exacerbate problems of global poverty and will lead to a more unequal distribution of wealth. Its thesis, therefore, is that tax reform should encourage, rather than discourage, international tax competition and that transnational organizations should focus their efforts on improving the competitive atmosphere.
Download or read book Global Tax Revolution written by Chris Edwards and published by Cato Institute. This book was released on 2008-09-23 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores one of the most dynamic and exciting aspects of globalization—international tax competition. With rising mobility and soaring capital flows, individuals and businesses are gaining freedom to work and invest in nations with lower tax rates. That freedom is pressuring governments to cut taxes on income, investment, and wealth. In Global Tax Revolution, Chris Edwards and Daniel Mitchell chronicle tax reforms around the world in recent decades. They describe the dramatic business tax cuts of Ireland, the flight of successful people from high-tax France, and the introduction of simple “flat taxes” in more than two dozen nations. Like other aspects of globalization, tax competition is generating intense political opposition. Numerous governments and international organizations are fighting to restrict tax cuts. Edwards and Mitchell challenge those efforts, arguing that tax competition is helping to advance prosperity, expand human rights, and rein in bloated governments.The authors argue that the U.S. economy can be revitalized by embracing competition and overhauling the federal tax code. They discuss how current tax rules suppress wages and investment and describe the tax changes needed for workers and businesses to succeed in the fast-paced global economy. Rather than idly complaining about jobs and capital moving offshore, this book argues that policymakers need to embrace major tax reforms to ensure rising standards of living for Americans in the years ahead.
