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The Impact Of The Tax Cuts And Jobs Act On Foreign Investment In The United States
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Book Synopsis The Impact of the Tax Cuts and Jobs Act on Foreign Investment in the United States by : Mr. Alexander D Klemm
Download or read book The Impact of the Tax Cuts and Jobs Act on Foreign Investment in the United States written by Mr. Alexander D Klemm and published by International Monetary Fund. This book was released on 2022-05-06 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2017 Tax Cuts and Jobs Act (TCJA) sharply reduced effective corporate income tax rates on equity-financed US investment. This paper examines the reform’s impact on US inbound foreign direct investment (FDI) and investment in property, plant and equipment (PPE) by foreign-owned US companies. We first model effective marginal and average tax rates (EMTRs and EATRs) by country, industry, and method of finance, and then use those tax rates to calculate the tax semi-elasticities of inbound FDI and PPE investment. We find that both PPE investment and FDI financed with retained earnings responded positively to the TCJA reform, but FDI financed with new equity or debt did not. In country-level PPE regressions, inclusion of macroeconomic controls renders tax rate coefficients insignificant, suggesting that the increase in PPE investment after TCJA was driven by general economic growth. In regressions of FDI financed with retained earnings, however, tax coefficients were robust to inclusion of macroeconomic controls. As the literature predicts, EATRs have a greater impact on cross-border investment than EMTRs. Country-by-industry regressions showed a larger effect of taxes on PPE investment than aggregate country-level regressions, but industry-level tax rates appear to have no effect on earnings retention.
Book Synopsis The Impact of the Tax Cuts and Jobs Act on Foreign Investment in the United States by : Thornton Matheson
Download or read book The Impact of the Tax Cuts and Jobs Act on Foreign Investment in the United States written by Thornton Matheson and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effect of the Tax Cuts and Jobs Act on Foreign Investment of U.S. Multinational Corporations by : David Martin Pankraz Samuel
Download or read book The Effect of the Tax Cuts and Jobs Act on Foreign Investment of U.S. Multinational Corporations written by David Martin Pankraz Samuel and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the effect of the 2017 Tax Cuts and Jobs Act (TCJA) on capital investment, labor investment, and the productivity of foreign subsidiaries of U.S. multinational corporations (MNCs). Proponents of the TCJA argue it decreased foreign investment by leveling the playing field between U.S. MNCs and foreign-owned corporations. However, policymakers are currently debating international tax reform, arguing that the TCJA incentivizes foreign investment. My study informs this debate by providing empirical evidence on the TCJA's effect on foreign investment and productivity. Using a difference-in-differences design, I find that after the TCJA, U.S.-owned foreign subsidiaries invest 13.1 percent less in capital and 1.3 percent less in labor relative to subsidiaries owned by non-U.S. MNCs. I also find these reductions are positively associated with subsidiary-level productivity, suggesting that the TCJA alleviates inefficiencies of the previous tax regime.
Book Synopsis Tax Withholding and Estimated Tax by :
Download or read book Tax Withholding and Estimated Tax written by and published by . This book was released on 1993 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Tax Cuts and Jobs Act by : United States. Government Accountability Office
Download or read book Tax Cuts and Jobs Act written by United States. Government Accountability Office and published by . This book was released on 2021 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: TCJA made sweeping changes to taxing U.S. corporations' international activities: (1) a transition tax on untaxed overseas earnings of foreign subsidiaries that accrued prior to 2017; (2) a tax on the net income earned by foreign subsidiaries exceeding a specified threshold of certain assets; (3) a deduction for income from certain foreign-derived sales of property or services exceeding a specified threshold of certain assets; and (4) a tax on certain payments made to a related foreign party referred to as base erosion payments. This report: (1) describes how TCJA's international provisions may be affecting U.S.-based corporations' international business activities; and (2) assesses IRS's and Treasury's development of relevant regulations and guidance to implement the provisions. GAO makes three recommendations to Treasury and IRS: develop more specific paperwork burden estimates for future TCJA regulations; quantify anticipated benefits and costs of these regulations; and identify ways to obtain public comment for significant guidance when appropriate.
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.
Book Synopsis Estimates of Federal Tax Expenditures by : United States. Department of the Treasury
Download or read book Estimates of Federal Tax Expenditures written by United States. Department of the Treasury and published by . This book was released on 1975 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. Joint Committee on Internal Revenue Taxation Publisher : ISBN 13 : Total Pages :20 pages Book Rating :4.A/5 ( download)
Book Synopsis Act to Remove Tax Barriers to Foreign Investment in the United States (Fowler Task Force Report) (H.R. 5916) by : United States. Congress. Joint Committee on Internal Revenue Taxation
Download or read book Act to Remove Tax Barriers to Foreign Investment in the United States (Fowler Task Force Report) (H.R. 5916) written by United States. Congress. Joint Committee on Internal Revenue Taxation and published by . This book was released on 1965 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of U.S. Foreign Direct Investment on U.S. Employment and Trade by : National Foreign Trade Council
Download or read book The Impact of U.S. Foreign Direct Investment on U.S. Employment and Trade written by National Foreign Trade Council and published by . This book was released on 1971 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Government Operations. Commerce, Consumer, and Monetary Affairs Subcommittee Publisher : ISBN 13 : Total Pages :228 pages Book Rating :4.:/5 (31 download)
Book Synopsis The Adequacy of the Federal Response to Foreign Investment in the United States by : United States. Congress. House. Committee on Government Operations. Commerce, Consumer, and Monetary Affairs Subcommittee
Download or read book The Adequacy of the Federal Response to Foreign Investment in the United States written by United States. Congress. House. Committee on Government Operations. Commerce, Consumer, and Monetary Affairs Subcommittee and published by . This book was released on 1980 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Altered States written by James R. Hines and published by . This book was released on 1993 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effect of taxation on foreign investment and on business location within the United States. The idea is to compare the inter-state distribution of investments from certain foreign countries (those with foreign tax credit systems) with the distribution of investments from other countries. Investors from countries with foreign tax credit systems receive home-country tax credits for income taxes paid to US states, so they are less likely than are other investors to avoid investing in high-tax states. The results indicate that 1% differences in state corporate tax rates are associated with 7-9% differences between the investment shares of foreign tax credit investors and the investment shares of all others, suggesting that state taxes significantly influence the pattern of foreign direct investment in the US.
Book Synopsis The Budget and Economic Outlook by :
Download or read book The Budget and Economic Outlook written by and published by . This book was released on 2008 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Consequences of the Tax Cut and Jobs Act's International Provisions : Lessons from Existing Research by : D. Dharmapala
Download or read book The Consequences of the Tax Cut and Jobs Act's International Provisions : Lessons from Existing Research written by D. Dharmapala and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the potential consequences of the international tax provisions of the recent Tax Cut and Jobs Act (TCJA), drawing on existing research. It uses the observed behaviour of firms during the 2005 repatriation tax holiday to infer the relative burdens created by the repatriation tax and by the TCJA's new "Global Intangible Low-Taxed Income" (GILTI) tax, and it concludes that the TCJA increases the tax burden on U.S. residence for many, and perhaps most, U.S. firms. It also argues that the GILTI and "Foreign-Derived Intangible Income" (FDII) provisions will create substantial distortions to the ownership of assets, both in the United States and around the world.
Book Synopsis An Examination of U.S. Tax Policy and Its Effects on the International Competitiveness of U.S.-owned Foreign Operations by : United States. Congress. Senate. Committee on Finance
Download or read book An Examination of U.S. Tax Policy and Its Effects on the International Competitiveness of U.S.-owned Foreign Operations written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 2004 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effect of U.S. Tax Reform on Cross-border Investment Between France and the United States by : V. Tollis
Download or read book The Effect of U.S. Tax Reform on Cross-border Investment Between France and the United States written by V. Tollis and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors examine the international provisions in the Tax Cuts and Jobs Act (TCJA) generally and then focus on how the changes will affect the tax efficiency of crossborder investment structures involving France and the United States. Many of the conclusions they reach can be extended to apply to investment structures involving the United States and other members of the European Union.
Book Synopsis Globalization and Poverty by : Ann Harrison
Download or read book Globalization and Poverty written by Ann Harrison and published by University of Chicago Press. This book was released on 2007-11-01 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.
Book Synopsis Tax Policy and Foreign Direct Investment in the United States by : David G. Hartman
Download or read book Tax Policy and Foreign Direct Investment in the United States written by David G. Hartman and published by . This book was released on 1982 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides some evidence on one aspect of international investment, the impacts of domestic tax policy on foreign direct investment in the United States. The possible impacts, which are discussed in the first section, are complex. For example, an investment incentive which applies to both domestic and foreign investors would be expected to result in an increased foreign investment in the U.S. On the other hand, a savings incentive, which has no direct impact on foreign investors, would nevertheless tend to increase domestic investors' demand for capital assets, thereby driving down the returns expected by foreign investors and possibly resulting in significant decreases in foreign investment. Because of measurement difficulties, we are only partly successful in obtaining precise estimates of this sort of impact. However, the results we do obtain suggest that foreign investment in the U.S. is strongly affected, in the manner predicted, by changes in domestic tax policy.
