Macroeconomic Effects Of Dividend Taxation With Investment Credit Limits
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Macroeconomic Effects of Dividend Taxation with Investment Credit Limits
Author | : Matteo Ghilardi,Roy Zilberman |
Publsiher | : International Monetary Fund |
Total Pages | : 35 |
Release | : 2022-07 |
Genre | : Business & Economics |
ISBN | : 9798400214721 |
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We analyze the effects of dividend taxation in a general equilibrium business cycle model with an occasionally-binding investment credit limit. Permanent dividend tax reforms distort capital investment decisions in the binding long-run equilibrium, but are neutral otherwise. Temporary unexpected tax cuts stimulate shortterm real activity in the credit-constrained economy, yet produce contractionary macroeconomic outcomes in the slack regime. The occasionally-binding constraint reconciles the `traditional' and `new' views of dividend taxation, and highlights the importance of measuring the firm's initial borrowing position before enacting tax reforms. Finally, permanently lower dividend taxes dampen financial business cycles, and help to explain macroeconomic asymmetries.
The Economic Effects of Dividend Taxation
Author | : Kenneth James McKenzie,Aileen J. Thompson,Canada. Technical Committee on Business Taxation |
Publsiher | : The Committee |
Total Pages | : 40 |
Release | : 1996 |
Genre | : Corporations |
ISBN | : MINN:31951D01429375R |
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Tax Policy Leverage and Macroeconomic Stability
Author | : International Monetary Fund. Fiscal Affairs Dept. |
Publsiher | : International Monetary Fund |
Total Pages | : 78 |
Release | : 2016-12-10 |
Genre | : Business & Economics |
ISBN | : 9781498345200 |
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Risks to macroeconomic stability posed by excessive private leverage are significantly amplified by tax distortions. ‘Debt bias’ (tax provisions favoring finance by debt rather than equity) has increased leverage in both the household and corporate sectors, and is now widely recognized as a significant macroeconomic concern. This paper presents new evidence of the extent of debt bias, including estimates for banks and non-bank financial institutions both before and after the global financial crisis. It presents policy options to alleviate debt bias, and assesses their effectiveness. The paper finds that thin capitalization rules restricting interest deductibility have only partially been able to address debt bias, but that an allowance for corporate equity has generally proved effective. The paper concludes that debt bias should feature prominently in countries’ tax reform plans in the coming years.
Where Does Multinational Investment Go with Territorial Taxation Evidence from the UK
Author | : Ms.Li Liu |
Publsiher | : International Monetary Fund |
Total Pages | : 49 |
Release | : 2018-01-12 |
Genre | : Business & Economics |
ISBN | : 9781484337493 |
Download Where Does Multinational Investment Go with Territorial Taxation Evidence from the UK Book in PDF, Epub and Kindle
In 2009, the United Kingdom changed from a worldwide to a territorial tax system, abolishing dividend taxes on foreign repatriation from many low-tax countries. This paper assesses the causal effect of territorial taxation on real investments, using a unique dataset for multinational affiliates in 27 European countries and employing the difference-in-difference approach. It finds that the territorial reform has increased the investment rate of UK multinationals by 15.7 percentage points in low-tax countries. In the absence of any significant investment reduction elsewhere, the findings represent a likely increase in total outbound investment by UK multinationals.
Technical Explanation Estimated Revenue Effects Distributional Analysis and Macroeconomic Analysis of the Tax Reform Act of 2014 a Discussion Draft of the Chairman of the House Committee on Ways and Means to Reform the Internal Revenue Code
Author | : United States. Congress. Joint Committee on Taxation |
Publsiher | : Unknown |
Total Pages | : 708 |
Release | : 2014 |
Genre | : Income tax |
ISBN | : MINN:31951D037730809 |
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International Evidence on the Effects of Having No Capital Gains Taxes
Author | : Fraser Institute (Vancouver, B.C.) |
Publsiher | : The Fraser Institute |
Total Pages | : 36 |
Release | : 2001 |
Genre | : Capital gains tax |
ISBN | : 9780889751897 |
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Taxation and Economic Performance
Author | : Willi Leibfritz,John Thornton,Alexandra Bibbee |
Publsiher | : OECD |
Total Pages | : 144 |
Release | : 1997 |
Genre | : Fiscal policy |
ISBN | : UCSC:32106014518879 |
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This paper reviews the theoretical and empirical literature on the effects of taxation on economic performance, adds marginally to the empirical literature, and draws conclusions for tax policy in OECD countries.
President s economic growth proposals
Author | : United States. Congress. House. Committee on Ways and Means |
Publsiher | : Unknown |
Total Pages | : 344 |
Release | : 2004 |
Genre | : Law |
ISBN | : UOM:39015090388011 |
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