Corporate Taxes
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Recent papers in Corporate Taxes
In 1998 Italy introduced a restricted version of an Allowance for Corporate Equity, called Dual Income Tax. Using data integrating Italy’s Institute for Statistics enterprise survey data and company accounts, we explore the effects of the... more
ABSTRACT: This study investigates how private equity ownership affects corporate tax avoidance. Private equity (PE) firms have been accused of aggressively managing their own tax liabilities and those of their portfolio firms. We... more
Over the last two decades, industrialized countries have eliminated most remaining capital controls. The EU specifically abolished all restrictions on capital outflows by 1990, while common market principles guarantee EU firms the right... more
This paper aims to address the issue of public pension reforms under demographic ageing that is likely to occur in Europe over the next 50 years. Three possible scenarios are analysed in a Blanchard OLG framework. These include: i) a... more
The CIT reform enacted by Law No.36 of 2008 cuts maximum tax rates from 30 per cent to 25 per cent and offers some incentives for business in Indonesia. This study aims at measuring the impacts of 2008 CIT reform on tax revenue and... more
Corporate patents are perceived to be the key profit-drivers in many multinational enterprises (MNEs). Moreover, as the transfer pricing process for royalty payments is often highly intransparent, they also constitute a major source of... more
In an income tax system that comported with the economic, or Haig-Simons, definition of income, deductible expenses would not face sourcebased limitations. A true Haig-Simons income tax system therefore would not take the schedular... more
The Japanese tax system applies relatively low marginal tax rates on most economic activities which, in combination with moderate tax elasticities of the bases, indicate that the overall distortion from the tax system (the excess burden)... more
This paper examines tax policy priorities at the provincial level in an international and national context. Canada needs a change in emphasis in the formulation of tax policy—away from distributional considerations and toward a pro-growth... more
This chapter considers the taxation of small, owner-managed businesses. It focuses on the difficulties created by treating employees, unincorporated and incorporated businesses differently for tax and social security purposes. The authors... more
In the standard Weighted Average Cost of Capital (WACC) applied to the free cash flow (FCF), we assume that the cost of debt is the market, unsubsidized rate. With debt at the market rate and perfect capital markets, debt only creates... more
Arguments for eliminating the double taxation of dividends apply only to dividends paid by corporations to individuals. The double (and multiple) taxation of dividends paid by one firm to another -- intercorporate dividends - was... more
We assess the quantitative impact of two reforms of the corporation tax that would eliminate the differential treatment of debt and equity.The two reforms are: the allowance for corporate equity (ACE), and the comprehensive business... more