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Author : United States Congress
Publisher : Createspace Independent Publishing Platform
Page : 544 pages
File Size : 48,9 Mb
Release : 2017-10-12
Category : Electronic
ISBN : 1978084692
Tax reform and the tax treatment of financial products
Author : United States. Congress. Senate. Committee on Finance,United States. Congress. House. Committee on Ways and Means
Publisher : Unknown
Page : 548 pages
File Size : 42,6 Mb
Release : 2011
Category : Financial instruments
ISBN : MINN:31951D03509293I
Author : Benjamin Carton,Emilio Fernández Corugedo,Mr.Benjamin L Hunt
Publisher : International Monetary Fund
Page : 34 pages
File Size : 41,9 Mb
Release : 2019-01-16
Category : Business & Economics
ISBN : 9781484395172
This paper uses a multi-region, forward-looking, DSGE model to estimate the macroeconomic impact of a tax reform that replaces a corporate income tax (CIT) with a destination-based cash-flow tax (DBCFT). Two key channels are at play. The first channel is the shift from an income tax to a cash-flow tax. This channel induces the corporate sector to invest more, boosting long-run potential output, GDP and consumption, but crowding out consumption in the short run as households save to build up the capital stock. The second channel is the shift from a taxable base that comprises domestic and foreign revenues, to one where only domestic revenues enter. This leads to an appreciation of the currency to offset the competitiveness boost afforded by the tax and maintain domestic investment-saving equilibrium. The paper demonstrates that spillover effects from the tax reform are positive in the long run as other countries’ exports benefit from additional investment in the country undertaking the reform and other countries’ domestic demand benefits from improved terms of trade. The paper also shows that there are substantial benefits when all countries undertake the reform. Finally, the paper demonstrates that in the presence of financial frictions, corporate debt declines under the tax reform as firms are no longer able to deduct interest expenses from their profits. In this case, the tax shifting results in an increase in the corporate risk premia, a near-term decline in output, and a smaller long-run increase in GDP.
Author : Dale Weldeau Jorgenson,Kun-Young Yun
Publisher : Oxford University Press
Page : 210 pages
File Size : 48,9 Mb
Release : 1991
Category : Business & Economics
ISBN : 0198285930
Introduction -- Taxation of income from capital -- The U.S. tax system -- Effective tax rates -- Summary and conclusion.
Author : CCH Canadian Limited
Publisher : Don Mills, Ont. : CCH Canadian
Page : 358 pages
File Size : 48,8 Mb
Release : 1987
Category : Corporations
ISBN : STANFORD:36105044083397
The 1987 tax reform package considered.
Author : United States. Congress. House. Committee on Ways and Means
Publisher : Unknown
Page : 80 pages
File Size : 52,6 Mb
Release : 1985
Category : Insurance
ISBN : MINN:31951P00560620E
Author : Patrick Honohan
Publisher : World Bank Publications
Page : 476 pages
File Size : 54,6 Mb
Release : 2003
Category : Business & Economics
ISBN : 0821354345
This book examines the options for, and obstacles to, successful financial sector tax reform, both in terms of theoretical and practical aspects. Issues discussed include: the design of optimal tax schemes, the role of imperfect information and the links between taxation and saving, inflation, the income tax treatment of intermediary loan-loss reserves, deposit insurance, VAT and financial transactions taxes; as well as current practice in the industrial world and case studies of distorted national systems. This is a co-publication of the World Bank and Oxford University Press.
Author : Anonim
Publisher : Unknown
Page : 0 pages
File Size : 54,8 Mb
Release : 2012
Category : Electronic
ISBN : OCLC:904473154
Author : Henry Aaron,Harvey Galper
Publisher : Brookings Institution Press
Page : 160 pages
File Size : 45,6 Mb
Release : 2010-12-01
Category : Business & Economics
ISBN : 9780815705512
Reform of the United States tax system has become a central political issue. Assessing Tax Reform is a concise, nontechnical book to help general readers and students understand the tax reform issues Congress is now debating. Henry Aaron and Harvey Galper lay out the major alternative proposals and analyze principles of taxation that can be used for judging them. They explore the issues surrounding a move to a comprehensive income tax, a cash-flow tax, and the value-added tax or other consumption-based taxes. They show the conflicts and opportunities resulting from large current government deficits and the move for tax reform. In addition to clarifying the problems that must be solved if large-scale, long-term reform is to be achieved, the authors describe alternative strategies for increasing revenues quickly. They also present their own program for a fair, efficient, and less complex tax structure. They conclude with an examination of the political pitfalls that continue to make any major improvements in the tax system hard to enact.
Author : Kevin A. Hassett
Publisher : American Enterprise Institute
Page : 94 pages
File Size : 43,9 Mb
Release : 1999
Category : Business & Economics
ISBN : 0844770868
This book studies topics relating to fundamental tax reform. The topics include, among others, the effects of taxation on household saving, the effects of reducing taxes on individuals' work effort, issues in the taxation of financial services, and international issues in consumption taxation.
Author : David F. Bradford
Publisher : MIT Press
Page : 570 pages
File Size : 45,7 Mb
Release : 2000
Category : Business & Economics
ISBN : 0262024705
Eventually Bradford became convinced that the politically unpopular consumption-based model was the superior one. Since leaving the Treasury, much of his professional focus has been on economic analysis of the income tax system and on tax policy advocacy.".
Author : Howell Hang Zee
Publisher : Unknown
Page : 64 pages
File Size : 50,7 Mb
Release : 2005
Category : Income tax
ISBN : UCSD:31822030949697
Author : Anonim
Publisher : World Bank Publications
Page : 100 pages
File Size : 54,8 Mb
Release : 1991-01-01
Category : Business & Economics
ISBN : 082131906X
Author : National Research Council,Board on Science, Technology, and Economic Policy
Publisher : National Academies Press
Page : 169 pages
File Size : 55,7 Mb
Release : 1998-02-05
Category : Political Science
ISBN : 9780309063685
The growing integration of world markets for capital and goods, coupled with the rise of instantaneous worldwide communication, has made identification of corporations as "American," "Dutch," or "Japanese" extremely difficult. Yet tax treatment does depend of where a firm is chartered. And, as Borderline Case documents, there is little doubt that tax rules for firms doing business in several nationsâ€"firms that account for more than three-quarters of corporate R&D spending in the United Statesâ€"have substantial effects on corporate decisionmaking and, ultimately, U.S. competitiveness. This book explores the impact of the U.S. tax code and its incentives on the international activities of U.S.- and foreign-based firms: basic research outlays, expenditures on product and process development, and plant and equipment investment. The authors include industry experts from large multinational firms in technology and pharmaceuticals, academic researchers who have explored the quantitative impact of tax provisions on R&D, and tax policy analysts who have examined international tax rules in the broader context of tax reform. These experts look at how corporate investment and R&D are shaped by specific tax provisions, such as the definition of taxable income, relative tax burdens on domestic and foreign business, taxation of earnings repatriated to the United States, deductibility of expenses of worldwide operations, and U.S. corporate taxes relative to other countries. The volume explores prescriptions and prospects for tax reform and reviews major reform proposals and their implications for the behavior of multinational business.
Author : David F. Bradford
Publisher : American Enterprise Institute
Page : 68 pages
File Size : 43,6 Mb
Release : 1996
Category : Business & Economics
ISBN : 084477068X
David F. Bradford discusses key concepts in consumption and income taxes and identifies the problems of a transition to a consumption-based system. He addresses how such a transition would affect interest rates and shows how price changes would alter the distribution of gains and losses.
