Tax Efficiency In An Open Economy
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Author | : Mr.W. R. M. Perraudin |
Publisher | : International Monetary Fund |
Total Pages | : 14 |
Release | : 1990-10-01 |
Genre | : Business & Economics |
ISBN | : 1451950667 |
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This note assesses the relative efficiency of different tax bases in an open economy. If terms of trade effects are large, lump-sum taxation may be inferior to distortionary consumption or wage taxes. This result is demonstrated analytically using a simple neoclassical model. An overlapping generations, general equilibrium, simulation model is then employed to show the empirical significance of the effects involved.
Author | : W.R.M. Perraudin |
Publisher | : |
Total Pages | : 14 |
Release | : 2008 |
Genre | : |
ISBN | : |
Download Tax Efficiency in an Open Economy Book in PDF, Epub and Kindle
This note assesses the relative efficiency of different tax bases in an open economy. If terms of trade effects are large, lump-sum taxation may be inferior to distortionary consumption or wage taxes. This result is demonstrated analytically using a simple neoclassical model. An overlapping generations, general equilibrium, simulation model is then employed to show the empirical significance of the effects involved.
Author | : Perraudin William R.M. |
Publisher | : |
Total Pages | : 0 |
Release | : 1990 |
Genre | : |
ISBN | : |
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Author | : Assaf Razin |
Publisher | : |
Total Pages | : 30 |
Release | : 1991 |
Genre | : Capital gains tax |
ISBN | : |
Download Vanishing Tax on Capital Income in the Open Economy Book in PDF, Epub and Kindle
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.
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 | : Mr.Gian Milesi-Ferretti |
Publisher | : International Monetary Fund |
Total Pages | : 37 |
Release | : 1994-07-01 |
Genre | : Business & Economics |
ISBN | : 145184994X |
Download Taxation and Endogenous Growth in Open Economies Book in PDF, Epub and Kindle
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.
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 | : Harry Huizinga |
Publisher | : World Bank Publications |
Total Pages | : 26 |
Release | : 1997 |
Genre | : Capital levy |
ISBN | : |
Download Privatization, Public Investment, and Capital Income Taxation Book in PDF, Epub and Kindle
Author | : Herbert J. Kiesling |
Publisher | : University of Michigan Press |
Total Pages | : 384 |
Release | : 1992 |
Genre | : Business & Economics |
ISBN | : 9780472103461 |
Download Taxation and Public Goods Book in PDF, Epub and Kindle
New approach to the analysis of tax policies