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Download or read book Corporate Tax Asymmetries under Investment Irreversibility written by and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On Corporate Tax Asymmetries & Neutrality written by and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John Creedy
Publisher :
ISBN 13 : 9780734037381
Total Pages : 24 pages
Book Rating : 4.0/5 (373 download)
Download or read book Corporation Tax Asymmetries written by John Creedy and published by . This book was released on 2008 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the way in which the asymmetric treatment of losses within corporate tax codes can be expected to affect behavioural responses to changes in tax rates. The paper introduces the concept of an equivalent tax function, raising the same present value of tax payments as the actual function, in which the effective rate on losses in any period, and thus the degree of asymmetry, is explicit. The influence on the elasticity of tax revenue with respect to the tax rate of this effective rate is then examined, where ?loss-shifting? occurs. Results suggest that estimates of the behavioural effect of changes in tax rates on tax revenues can be expected in general to be smaller in regimes that involve greater asymmetries in the tax treatement of losses. As losses vary over the economic cycle, asymmetric treatment also generates effects on tax revenues that are asymmetric (non-linear) between above-trend and below-trend parts of the cycle.
Author : Paolo M. Panteghini
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (535 download)
Download or read book Corporate Tax Asymmetries Under Investement Irreversibility written by Paolo M. Panteghini and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Saman Majd
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (152 download)
Download or read book Tax Asymmetries and Corporate Income Tax Reform written by Saman Majd and published by . This book was released on 1986 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the impact of tax asymmetries (the lack of full loss offsets) under current corporate income tax law and a stylized tax reform proposal. The government's tax claim on the firm's pretax cash flows is modelled as a series of path-dependent call options and valued by option pricing procedures and Monte Carlo simulation.The tax reform investigated reduces the statutory tax rate, eliminates the investment tax credit and sets tax depreciation approximately equal to economic depreciation. These changes would increase the effective tax rate on marginal investments by firms that always pay taxes, but dramatically reduce the potential burden of tax asymmetries. "Stand-alone" investments, which are exposed to the greatest burden, are uniformly more valuable under this reform, despite the loss of the investment tax credit and accelerated depreciation.These general results are backed up by a series of numerical experiments. We vary investment risk, inflation (with and without indexing of tax depreciation), and investigate how allowing interest on loss carry forwards would affect after-tax project value
Author : Rosanne Altshuler
Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.0/5 ( download)
Download or read book The Significance of Tax Law Asymmetries written by Rosanne Altshuler and published by . This book was released on 1987 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study uses tax return data for U.S. nonfinancial corporations for the period 1971-82 to estimate the importance of restrictions on the ability of firms to use tax credits and to obtain refunds for tax losses. Our results suggest that the incidence of such unused tax benefits increased substantially during the early 1980s, though we do not find these increases attributable to increased investment incentives during that period. Using estimates of a three-state (taxable, not taxable, partially taxable) transition probability model, we calculate the effective tax rates on various types of investments undertaken by firms differing with respect to tax status. We confirm previous findings about the marginal tax rate on interest payments, and that it is important to distinguish current tax payments from marginal tax rates in estimating the incentive to invest.
Author : Paolo M. Panteghini
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (129 download)
Download or read book On Corporate Tax Asymmetries and Neutrality written by Paolo M. Panteghini and published by . This book was released on 2004 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article discusses the effects of corporate tax asymmetries under investment irreversibility. We introduce a tax scheme where the tax base is given by the firm's return net of a rate of relief. When the firm's return is less than the imputation rate, however, no tax refunds are allowed. Unlike symmetric tax systems, the scheme proposed is neutral with respect not only to income uncertainty but also to policy uncertainty.
Author : Paolo Panteghini
Publisher :
ISBN 13 :
Total Pages : 15 pages
Book Rating : 4.:/5 (717 download)
Download or read book Corporate Tax Asymmetries Under Investment Irreversibility written by Paolo Panteghini and published by . This book was released on 2001 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tax Asymmetries and Corporate Income Tax Reform written by and published by . This book was released on 1986 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Paolo M. Panteghini
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (954 download)
Download or read book The Role of Corporate Tax Asymmetries in a Continuous-time Model with Depreciation written by Paolo M. Panteghini and published by . This book was released on 2000 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert Innes
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.E/5 ( download)
Download or read book Tax Asymmetries and Capital Structure Choices in Closely Held Firms written by Robert Innes and published by . This book was released on 1988 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 51 pages
Book Rating : 4.:/5 (944 download)
Download or read book Corporate Tax Asymmetries and R & D written by and published by . This book was released on 2016 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Paolo Panteghini
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (535 download)
Download or read book On Corporate Tax Asymmetries and Neutrality written by Paolo Panteghini and published by . This book was released on 2000 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Masanori Orihara
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (13 download)
Download or read book Corporate Tax Asymmetries and R&D written by Masanori Orihara and published by . This book was released on 2017 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic theory dating back to Domar and Musgrave (1944, Quarterly Journal of Economics 58, 388-422) suggests that the tax treatment of gains and losses can affect incentives for firms to undertake high-risk investments. We take advantage of a 2002 tax reform in Japan as a natural experiment to test this theory. The reform introduced a consolidated taxation system (CTS) which allows business groups to offset gains with losses across firms in their group. Thus, we predict that the CTS can mitigate disincentives to high-risk investments. Using information on R&D as the investment risk measures, we find that the CTS increases R&D, in agreement with Domar and Musgrave (1944). We also provide evidence that the CTS stimulates risk-sharing across group members. These findings suggest that mitigating tax asymmetries is an effective policy both for risk-taking and risk-sharing.
Author : Andrew Lyon
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.E/5 ( download)
Download or read book Taxation, Information Asymmetries, and a Firm's Financing Choices written by Andrew Lyon and published by . This book was released on 1992 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the effects of taxation and information asymmetries influence the firm's financial decisions, and how public policy may affect all three.
Author : Antonio Estache
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4./5 ( download)
Download or read book Evaluating the Asset-based Minimum Tax on Corporations written by Antonio Estache and published by World Bank Publications. This book was released on 1992 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The minimum asset tax, with its simple tax code and marginal impact effective tax rate, is an appealing short cut to comprehensive tax reform - and in Brazil it could substantially improve revenue.
Author :
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (63 download)
Download or read book Corporation Tax Asymmetries on Investment Behaviour written by and published by . This book was released on 1991 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
