Innovations In The War On Tax Evasion

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Innovations in the War on Tax Evasion

Author : Tracy A. Kaye
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Innovations in the War on Tax Evasion by : Tracy A. Kaye

Download or read book Innovations in the War on Tax Evasion written by Tracy A. Kaye and published by . This book was released on 2020 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offshore tax evasion is a global problem that requires a global solution. Nevertheless, the United States unilaterally responded to the offshore tax evasion problem by enacting the Foreign Account Tax Compliance Act. FATCA requires foreign banks to report information about financial accounts held by U.S. taxpayers directly to the Internal Revenue Service and imposes a thirty percent withholding tax on certain U.S. payments to any bank that will not cooperate. Yet, U.S. banks were not required to report any information on nonresident account holders (except for Canadians) to anyone.FATCA garnered worldwide attention. The European Union expressed its concerns to the U.S. Treasury about the compliance burden on the financial industry and the conflict with EU Member States' laws on privacy and data protection. Treasury is resolving these issues by negotiating bilateral agreements known as Intergovernmental Agreements (IGAs) that will require reciprocity on the part of the United States in the exchange of information. These IGAs are furthering the movement toward global transparency as most FATCA partner jurisdictions intend to require reporting on all nonresident accounts rather than just U.S. accounts. This could lead to the development of a multilateral platform for the exchange of information that is critical to combating offshore tax evasion.This Article urges the United States to adopt the regulations and legislation that are necessary before the United States can provide its FATCA partners with the same information that they have been asked to give the U.S. government. The United States should play a leadership role in furthering global transparency and take the steps required to no longer function as a tax haven for tax evaders from other countries. The IGA with Mexico that entered into force on January 1, 2013, is an appropriate vehicle for the United States to demonstrate this renewed commitment to the exchange of information.

Winning the Tax Wars

Author : Brigitte Alepin
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041194614
Total Pages : 208 pages
Book Rating : 4.0/5 (411 download)

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Book Synopsis Winning the Tax Wars by : Brigitte Alepin

Download or read book Winning the Tax Wars written by Brigitte Alepin and published by Kluwer Law International B.V.. This book was released on 2016-04-24 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past few decades, the concentration of wealth and property in the hands of a few has been facilitated by tax evasion, tax avoidance, and above all by tax competition. Fortunately, a determined move toward international cooperation among tax authorities is gathering its forces to do battle. This invaluable book shows how the globalization of trade, the digitization of the economy, tax competition between sovereign states, the erosion of the tax base, and the transfer of pro ts have all revealed the weaknesses of a traditional tax system that has reached its limits, and how numerous states and groups of states have joined efforts in creating a new international tax system designed to restore fairness and stability in the levying of taxes worldwide. Stemming from a 2016 conference initiated by the Canadian non-pro t organization TaxCOOP, convened by the World Bank and bringing together well-known taxation experts from prominent international organizations, the book presents outstanding contributions highlighting the impacts of tax competition and viable solutions. Among the issues and topics covered are the following: – electronic commerce and electronic money; – transfer pricing; – derivatives and hedge funds; – protecting tax whistle-blowers; – offshore tax investigations; – possibility of an international tax court; – impact of tax competition on developing countries; – carbon pricing; – tobacco taxation; and – effective taxation of the ultra-wealthy and their nancial capital. The chapters include details of country experiences and results, in some cases analyzed by key protagonists themselves. Collectively, the contributions take a giant step toward reinforcing the power of sovereign states in sectors such as the environment, education, and health. As an authoritative guide to increasing the level of transparency and accountability of private and public economic actors and restoring citizens’ trust in the fairness of our global governance systems, this peerless volume will be warmly welcomed by tax lawyers, taxation authorities, and interested academics worldwide.

Rebellion, Rascals, and Revenue

Author : Michael Keen
Publisher : Princeton University Press
ISBN 13 : 0691199981
Total Pages : 536 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Rebellion, Rascals, and Revenue by : Michael Keen

Download or read book Rebellion, Rascals, and Revenue written by Michael Keen and published by Princeton University Press. This book was released on 2021-04-06 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: An engaging and enlightening account of taxation told through lively, dramatic, and sometimes ludicrous stories drawn from around the world and across the ages Governments have always struggled to tax in ways that are effective and tolerably fair. Sometimes they fail grotesquely, as when, in 1898, the British ignited a rebellion in Sierra Leone by imposing a tax on huts—and, in repressing it, ended up burning the very huts they intended to tax. Sometimes they succeed astonishingly, as when, in eighteenth-century Britain, a cut in the tax on tea massively increased revenue. In this entertaining book, two leading authorities on taxation, Michael Keen and Joel Slemrod, provide a fascinating and informative tour through these and many other episodes in tax history, both preposterous and dramatic—from the plundering described by Herodotus and an Incan tax payable in lice to the (misremembered) Boston Tea Party and the scandals of the Panama Papers. Along the way, readers meet a colorful cast of tax rascals, and even a few tax heroes. While it is hard to fathom the inspiration behind such taxes as one on ships that tended to make them sink, Keen and Slemrod show that yesterday’s tax systems have more in common with ours than we may think. Georgian England’s window tax now seems quaint, but was an ingenious way of judging wealth unobtrusively. And Tsar Peter the Great’s tax on beards aimed to induce the nobility to shave, much like today’s carbon taxes aim to slow global warming. Rebellion, Rascals, and Revenue is a surprising and one-of-a-kind account of how history illuminates the perennial challenges and timeless principles of taxation—and how the past holds clues to solving the tax problems of today.

Tax Evasion and the Rule of Law in Latin America

Author : Marcelo Bergman
Publisher : Penn State Press
ISBN 13 : 0271058811
Total Pages : 280 pages
Book Rating : 4.2/5 (71 download)

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Book Synopsis Tax Evasion and the Rule of Law in Latin America by : Marcelo Bergman

Download or read book Tax Evasion and the Rule of Law in Latin America written by Marcelo Bergman and published by Penn State Press. This book was released on 2015-08-26 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few tasks are as crucial for the future of democracy in Latin America—and, indeed, in other underdeveloped areas of the world—as strengthening the rule of law and reforming the system of taxation. In this book, Marcelo Bergman shows how success in getting citizens to pay their taxes is related intimately to the social norms that undergird the rule of law. The threat of legal sanctions is itself insufficient to motivate compliance, he argues. That kind of deterrence works best when citizens already have other reasons to want to comply, based on their beliefs about what is fair and about how their fellow citizens are behaving. The problem of "free riding," which arises when cheaters can count on enough suckers to pay their taxes so they can avoid doing so and still benefit from the government’s supply of public goods, cannot be reversed just by stringent law, because the success of governmental enforcement ultimately depends on the social equilibrium that predominates in each country. Culture and state effectiveness are inherently linked. Using a wealth of new data drawn from his own multidimensional research involving game theory, statistical models, surveys, and simulations, Bergman compares Argentina and Chile to show how, in two societies that otherwise share much in common, the differing traditions of rule of law explain why so many citizens evade paying taxes in Argentina—and why, in Chile, most citizens comply with the law. In the concluding chapter, he draws implications for public policy from the empirical findings and generalizes his argument to other societies in Africa, Asia, and Eastern Europe.

Do Audits Deter or Provoke Future Tax Noncompliance? Evidence on Self-employed Taxpayers

Author : Sebastian Beer
Publisher : International Monetary Fund
ISBN 13 : 1513515373
Total Pages : 22 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Do Audits Deter or Provoke Future Tax Noncompliance? Evidence on Self-employed Taxpayers by : Sebastian Beer

Download or read book Do Audits Deter or Provoke Future Tax Noncompliance? Evidence on Self-employed Taxpayers written by Sebastian Beer and published by International Monetary Fund. This book was released on 2019-10-11 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper employs unique tax administrative data and operational audit information from a sample of approximately 7,500 self-employed U.S. taxpayers to investigate the effects of operational tax audits on future reporting behavior. Our estimates indicate that audits can have substantial deterrent or counter-deterrent effects. Among those taxpayers who receive an additional tax assessment, reported taxable income is estimated to be 64% higher in the first year after the audit than it would have been in the absence of the audit. In contrast, among those taxpayers who do not receive an additional tax assessment, reported taxable income is estimated to be approximately 15% lower the year after the audit than it would have been had the audit not taken place. Our results suggest that improved targeting of audits towards noncompliant taxpayers would not only yield more direct audit revenue, it would also pay dividends in terms of future tax collections.

U.S. Investment Since the Tax Cuts and Jobs Act of 2017

Author : Emanuel Kopp
Publisher : International Monetary Fund
ISBN 13 : 1498317049
Total Pages : 37 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis U.S. Investment Since the Tax Cuts and Jobs Act of 2017 by : Emanuel Kopp

Download or read book U.S. Investment Since the Tax Cuts and Jobs Act of 2017 written by Emanuel Kopp and published by International Monetary Fund. This book was released on 2019-05-31 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is no consensus on how strongly the Tax Cuts and Jobs Act (TCJA) has stimulated U.S. private fixed investment. Some argue that the business tax provisions spurred investment by cutting the cost of capital. Others see the TCJA primarily as a windfall for shareholders. We find that U.S. business investment since 2017 has grown strongly compared to pre-TCJA forecasts and that the overriding factor driving it has been the strength of expected aggregate demand. Investment has, so far, fallen short of predictions based on the postwar relation with tax cuts. Model simulations and firm-level data suggest that much of this weaker response reflects a lower sensitivity of investment to tax policy changes in the current environment of greater corporate market power. Economic policy uncertainty in 2018 played a relatively small role in dampening investment growth.

The Cambridge Handbook of Psychology and Economic Behaviour

Author : Alan Lewis
Publisher : Cambridge University Press
ISBN 13 : 1108547680
Total Pages : 1240 pages
Book Rating : 4.1/5 (85 download)

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Book Synopsis The Cambridge Handbook of Psychology and Economic Behaviour by : Alan Lewis

Download or read book The Cambridge Handbook of Psychology and Economic Behaviour written by Alan Lewis and published by Cambridge University Press. This book was released on 2018-02-15 with total page 1240 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has recently been an escalated interest in the interface between psychology and economics. The Cambridge Handbook of Psychology and Economic Behaviour is a valuable reference dedicated to improving our understanding of the economic mind and economic behaviour. Employing empirical methods - including laboratory and field experiments, observations, questionnaires and interviews - the Handbook provides comprehensive coverage of theory and method, financial and consumer behaviour, the environment and biological perspectives. This second edition also includes new chapters on topics such as neuroeconomics, unemployment, debt, behavioural public finance, and cutting-edge work on fuzzy trace theory and robots, cyborgs and consumption. With distinguished contributors from a variety of countries and theoretical backgrounds, the Handbook is an important step forward in the improvement of communications between the disciplines of psychology and economics that will appeal to academic researchers and graduates in economic psychology and behavioral economics.

The Hidden Wealth of Nations

Author : Gabriel Zucman
Publisher : University of Chicago Press
ISBN 13 : 022624556X
Total Pages : 142 pages
Book Rating : 4.2/5 (262 download)

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Book Synopsis The Hidden Wealth of Nations by : Gabriel Zucman

Download or read book The Hidden Wealth of Nations written by Gabriel Zucman and published by University of Chicago Press. This book was released on 2015-09-22 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: We are well aware of the rise of the 1% as the rapid growth of economic inequality has put the majority of the world’s wealth in the pockets of fewer and fewer. One much-discussed solution to this imbalance is to significantly increase the rate at which we tax the wealthy. But with an enormous amount of the world’s wealth hidden in tax havens—in countries like Switzerland, Luxembourg, and the Cayman Islands—this wealth cannot be fully accounted for and taxed fairly. No one, from economists to bankers to politicians, has been able to quantify exactly how much of the world’s assets are currently hidden—until now. Gabriel Zucman is the first economist to offer reliable insight into the actual extent of the world’s money held in tax havens. And it’s staggering. In The Hidden Wealth of Nations, Zucman offers an inventive and sophisticated approach to quantifying how big the problem is, how tax havens work and are organized, and how we can begin to approach a solution. His research reveals that tax havens are a quickly growing danger to the world economy. In the past five years, the amount of wealth in tax havens has increased over 25%—there has never been as much money held offshore as there is today. This hidden wealth accounts for at least $7.6 trillion, equivalent to 8% of the global financial assets of households. Fighting the notion that any attempts to vanquish tax havens are futile, since some countries will always offer more advantageous tax rates than others, as well the counter-argument that since the financial crisis tax havens have disappeared, Zucman shows how both sides are actually very wrong. In The Hidden Wealth of Nations he offers an ambitious agenda for reform, focused on ways in which countries can change the incentives of tax havens. Only by first understanding the enormity of the secret wealth can we begin to estimate the kind of actions that would force tax havens to give up their practices. Zucman’s work has quickly become the gold standard for quantifying the amount of the world’s assets held in havens. In this concise book, he lays out in approachable language how the international banking system works and the dangerous extent to which the large-scale evasion of taxes is undermining the global market as a whole. If we are to find a way to solve the problem of increasing inequality, The Hidden Wealth of Nations is essential reading.

The Russian Flat Tax Reform

Author : Anna Ivanova
Publisher : International Monetary Fund
ISBN 13 : 1451860358
Total Pages : 49 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis The Russian Flat Tax Reform by : Anna Ivanova

Download or read book The Russian Flat Tax Reform written by Anna Ivanova and published by International Monetary Fund. This book was released on 2005-01-01 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Russia dramatically reduced its higher rates of personal income tax (PIT) in 2001 establishing a single marginal rate at the low level of 13 percent. In the following year, real revenue from the PIT actually increased by about 26 percent. This 'flat tax' experience has attracted much attention (and emulation) among policymakers, making it perhaps the most important tax reform of recent years. But it has been little studied. This paper asks whether the strong revenue performance of the PIT was itself a consequence of this reform, using both macro evidence and, in particular, micro-level data on the experiences of individuals and households affected by the reform to varying degrees. It concludes that there is no evidence of a strong supply side effect of the reform. Compliance, however, did improve quite substantially-by about one third according to our estimates-though it remains unclear whether this was due to the parametric reforms or to accompanying changes in enforcement.

Re-Imagining Offshore Finance

Author : Christopher M. Bruner
Publisher : Oxford University Press
ISBN 13 : 019046688X
Total Pages : 232 pages
Book Rating : 4.1/5 (94 download)

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Book Synopsis Re-Imagining Offshore Finance by : Christopher M. Bruner

Download or read book Re-Imagining Offshore Finance written by Christopher M. Bruner and published by Oxford University Press. This book was released on 2016-11-11 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Small jurisdictions have become significant players in cross-border corporate and financial services. Their nature, legal status, and market roles, however, remain under-theorized. Lacking a sufficiently nuanced framework to describe their functions in cross-border finance - and the peculiar strengths of those achieving global dominance in the marketplace - it remains impossible to evaluate their impacts in a comprehensive manner. This book advances a new conceptual framework to refine the analysis and direct it toward more productive inquiries. Bruner canvasses extant theoretical frameworks used to describe and evaluate the roles of small jurisdictions in cross-border finance. He then proposes a new concept that better captures the characteristics, competitive strategies, and market roles of those achieving global dominance in the marketplace - the "market-dominant small jurisdiction" (MDSJ). Bruner identifies the central features giving rise to such jurisdictions' competitive strengths - some reflect historical, cultural, and geographic circumstances, while others reflect development strategies pursued in light of those circumstances. Through this lens, he evaluates a range of small jurisdictions that have achieved global dominance in specialized areas of cross-border finance, including Bermuda, Dubai, Singapore, Hong Kong, Switzerland, and Delaware. Bruner further tests the MDSJ concept's explanatory power through a broader comparative analysis, and he concludes that the MDSJs' significance will likely continue to grow - as will the need for a more effective means of theorizing their roles in cross-border finance and the global dynamics generated by their ascendance.

Tax Evasion and Tax Havens since the Nineteenth Century

Author : Sébastien Guex
Publisher : Springer Nature
ISBN 13 : 3031181190
Total Pages : 401 pages
Book Rating : 4.0/5 (311 download)

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Book Synopsis Tax Evasion and Tax Havens since the Nineteenth Century by : Sébastien Guex

Download or read book Tax Evasion and Tax Havens since the Nineteenth Century written by Sébastien Guex and published by Springer Nature. This book was released on 2023-04-18 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collective book offers a panorama of the history of tax evasion, tax avoidance and tax havens from the nineteenth century to the present day, based on the latest research in contemporary history. It aims to show that this phenomenon is at the heart of global capitalism, partly as a response of the ruling classes to the rise of progressive taxation, but for other reasons too: notably the development of a powerful tax evasion and avoidance industry in different countries. The book argues that tax competition between states has stimulated the development of tax havens. It discusses the notion of the ‘tax haven’ and proposes a more rigorous concept - that of the ‘tax predator’. Finally, the book sheds light on the socio-political conflicts that have developed around tax evasion and the way in which states have fought against or tolerated the phenomenon.

Countering Tax Crime in the European Union

Author : Umut Turksen
Publisher : Bloomsbury Publishing
ISBN 13 : 1509937978
Total Pages : 270 pages
Book Rating : 4.5/5 (99 download)

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Book Synopsis Countering Tax Crime in the European Union by : Umut Turksen

Download or read book Countering Tax Crime in the European Union written by Umut Turksen and published by Bloomsbury Publishing. This book was released on 2021-03-25 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book seeks durable solutions for tax crime and is a great resource for the development of knowledge, policy and law on tax crime. The book uniquely blends current practice with new approaches to countering tax crime. With insights from the EU-funded project, PROTAX, which conducts advanced research on tax crimes, the book comparatively analyses the EU's tax crime measures and the Ten Global Principles (TGPs) on fighting tax crime by the Organisation for Economic Cooperation and Development (OECD). The study critically examines how the TGPs can serve as minimum standards for the EU to counter tax crime such as tax evasion and tax fraud. The study also analyses how the anti-tax avoidance package can be graduated to fight tax crime in the EU. When escalated, the strengths of the EU tax crime measures and TGPs can form a fortress in which criminal law can be empowered to mitigate tax crimes with greater effect. The book will be particularly useful for end-user stakeholders such as tax policy makers, LEAs, professional enablers as well as academics and students interested in productive interaction between tax, criminal and administrative laws.

Tax, Inequality, and Human Rights

Author : Philip G. Alston
Publisher : Oxford University Press
ISBN 13 : 0190882247
Total Pages : 496 pages
Book Rating : 4.1/5 (98 download)

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Book Synopsis Tax, Inequality, and Human Rights by : Philip G. Alston

Download or read book Tax, Inequality, and Human Rights written by Philip G. Alston and published by Oxford University Press. This book was released on 2019-04-11 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the first time, Human Rights and Tax in an Unequal World brings together works by human rights and tax law experts, to illustrate the linkages between the two fields and to reveal their mutual relevance in tackling economic, social, and political inequalities. Against the backdrop of systemic corporate tax avoidance, the widespread use of tax havens, persistent pressures to embrace austerity policies, and growing gaps between the rich and poor, this book encourages readers to understand fiscal policy as human rights policy, with profound consequences for the wellbeing of citizens around the world. The essays collected examine where the foundational principles of tax law and human rights law intersect and diverge; discuss the cross-border nature and human rights impacts of abusive practices like tax avoidance and evasion; question the role of states in bringing transparency and accountability to tax policies and practices; highlight the responsibility of private sector actors for the consequences of tax laws; and critically evaluate certain domestic tax rules through the lens of equality and non-discrimination. The contributing scholars and practitioners explore how an international human rights framework can anchor debates around international tax reform and domestic fiscal consolidation in existing state obligations. They address what human rights law requires of state tax policies, and what a state's tax laws and loopholes mean for the enjoyment of human rights within and outside its borders. Ultimately, tax and human rights both turn on the relationship between the individual and the state, and thus both fields face crises as the social contract frays and populist, illiberal regimes are on the rise.

Global Tax Fairness

Author : Thomas Pogge
Publisher : Oxford University Press
ISBN 13 : 019103861X
Total Pages : 383 pages
Book Rating : 4.1/5 (91 download)

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Book Synopsis Global Tax Fairness by : Thomas Pogge

Download or read book Global Tax Fairness written by Thomas Pogge and published by Oxford University Press. This book was released on 2016-02-04 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses sixteen different reform proposals that are urgently needed to correct the fault lines in the international tax system as it exists today, and which deprive both developing and developed countries of critical tax resources. It offers clear and concrete ideas on how the reforms can be achieved and why they are important for a more just and equitable global system to prevail. The key to reducing the tax gap and consequent human rights deficit in poor countries is global financial transparency. Such transparency is essential to curbing illicit financial flows that drain less developed countries of capital and tax revenues, and are an impediment to sustainable development. A major break-through for financial transparency is now within reach. The policy reforms outlined in this book not only advance tax justice but also protect human rights by curtailing illegal activity and making available more resources for development. While the reforms are realistic they require both political and an informed and engaged civil society that can put pressure on governments and policy makers to act.

The Ethics of Tax Evasion

Author : Robert W. McGee
Publisher : Springer Science & Business Media
ISBN 13 : 1461412870
Total Pages : 678 pages
Book Rating : 4.4/5 (614 download)

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Book Synopsis The Ethics of Tax Evasion by : Robert W. McGee

Download or read book The Ethics of Tax Evasion written by Robert W. McGee and published by Springer Science & Business Media. This book was released on 2011-12-21 with total page 678 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do people evade paying taxes? This is the central question addressed in this volume by Robert McGee and a multidisciplinary group of contributors from around the world. Applying insights from economics, public finance, political science, law, philosophy, theology and sociology, the authors consider the complex motivations for not paying taxes and the conditions under which this behavior might be rationalized. Applying theoretical approaches as well as empirical research, The Ethics of Tax Evasion considers three general arguments for tax evasion: (1) in cases where the government is corrupt or engaged in human rights abuses; (2) where citizens claim inability to pay, unfairness in the tax system, paying for things that do not benefit the taxpayer, excessively high tax rates, or where taxes are used to support an unpopular war; and (3) through philosophical, moral, or religious opposition. The authors further explore these issues by asking whether attitudes toward tax evasion differ by country or other demographic variables such as gender, age, ethnicity, income level, marital status, education or religion. The result is a multi-faceted analysis of tax evasion in cultural and institutional context, and, more generally, a study in ethical dilemmas and rational decision making.

Digital Revolutions in Public Finance

Author : Mr.Sanjeev Gupta
Publisher : International Monetary Fund
ISBN 13 : 1484315227
Total Pages : 362 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Digital Revolutions in Public Finance by : Mr.Sanjeev Gupta

Download or read book Digital Revolutions in Public Finance written by Mr.Sanjeev Gupta and published by International Monetary Fund. This book was released on 2017-11-01 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: Digitization promises to reshape fiscal policy by transforming how governments collect, process, share, and act on information. More and higher-quality information can improve not only policy design for tax and spending, but also systems for their management, including tax administration and compliance, delivery of public services, administration of social programs, public financial management, and more. Countries must chart their own paths to effectively balance the potential benefits against the risks and challenges, including institutional and capacity constraints, privacy concerns, and new avenues for fraud and evasion. Support for this book and the conference on which it is based was provided by the Bill and Melinda Gates Foundation “Click Download on the top right corner for your free copy..."

Japan’s Corporate Income Tax

Author : Ruud A. de Mooij
Publisher : International Monetary Fund
ISBN 13 : 149830009X
Total Pages : 44 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Japan’s Corporate Income Tax by : Ruud A. de Mooij

Download or read book Japan’s Corporate Income Tax written by Ruud A. de Mooij and published by International Monetary Fund. This book was released on 2014-08-04 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how corporate income tax reform can help Japan increase investment and boost potential growth. Using international and Japan-specific empirical estimates of corporate tax elasticities, investment is predicted to expand by around 0.4 percent for each point of rate reduction. International consensus estimates suggest further that between 10 and 30 percent of the static revenue loss could be recovered in the long run through dynamic scoring, although Japan’s offset may be closer to the lower bound. Compensating fiscal measures are necessary in light of Japan’s tight fiscal constraints. The scope for base broadening in the corporate income tax is found to be limited and some forms of base broadening will undo positive investment effects of a rate cut. Alternative revenue sources include higher consumption and property taxes. A gradual approach toward lowering tax rates mitigates windfall gains and reduces short-run revenue costs. An incremental allowance-for-corporate-equity system could boost investment with limited fiscal costs in the short run.