Financial Markets and Capital Income Taxation in a Global Economy PDF Download
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Author: Paolo Roberti
Publisher: North-Holland
ISBN:
Category : Business & Economics
Languages : en
Pages : 436
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Book Description
The book describes the developments and the evidence, the problems and the interrelationships among problems, the outlook, and the intricate balance between the national and the international dimensions of the policy issues faced by tax administrations in OECD countries in the field of financial markets and capital income taxation in the wake of profound technological change and market globalization.The book provides a broad perspective of the problems, comparing thoughts on how the problems may be best dealt with, and using lessons from experience with theoretical and policy developments in a number of countries including the EU, North America and Australia.The book focuses on the following topics: bull; falling barriers, increased capital mobility, and the challenges of capital market globalization bull; the implications, for capital income taxation, of technological innovation and new financial products bull; tax distortions and international market pressures for national tax system conformity bull; questions of national tax sovereignty and the constraints imposed on governments by tax competition bull; the growing need for tax cooperation bull; emerging national and international capital taxation issues, including the premise that international cooperation may be key to solving, or at least alleviating, the existing and predicted tax problems.
Author: Paolo Roberti
Publisher: North-Holland
ISBN:
Category : Business & Economics
Languages : en
Pages : 436
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Book Description
The book describes the developments and the evidence, the problems and the interrelationships among problems, the outlook, and the intricate balance between the national and the international dimensions of the policy issues faced by tax administrations in OECD countries in the field of financial markets and capital income taxation in the wake of profound technological change and market globalization.The book provides a broad perspective of the problems, comparing thoughts on how the problems may be best dealt with, and using lessons from experience with theoretical and policy developments in a number of countries including the EU, North America and Australia.The book focuses on the following topics: bull; falling barriers, increased capital mobility, and the challenges of capital market globalization bull; the implications, for capital income taxation, of technological innovation and new financial products bull; tax distortions and international market pressures for national tax system conformity bull; questions of national tax sovereignty and the constraints imposed on governments by tax competition bull; the growing need for tax cooperation bull; emerging national and international capital taxation issues, including the premise that international cooperation may be key to solving, or at least alleviating, the existing and predicted tax problems.
Author: Doron Herman
Publisher: IBFD
ISBN: 9076078440
Category : Double taxation
Languages : en
Pages : 503
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Book Description
Author: Assaf Razin
Publisher: University of Chicago Press
ISBN: 0226705889
Category : Business & Economics
Languages : en
Pages : 456
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Book Description
The increasing globalization of economic activity is bringing an awareness of the international consequences of tax policy. The move toward the common European market in 1992 raises the important question of how inefficiencies in the various tax systems—such as self-defeating tax competition among member nations—will be addressed. As barriers to trade and investment tumble, cross-national differences in tax structures may loom larger and create incentives for relocations of capital and labor; and efficient and equitable income tax systems are becoming more difficult to administer and enforce, particularly because of the growing importance of multinational enterprises. What will be the role of tax policy in this more integrated world economy? Assaf Razin and Joel Slemrod gathered experts from two traditionally distinct specialties, taxation and international economics, to lay the groundwork for understanding these issues, which will require the attention of scholars and policymakers for years to come. Contributors describe the basic provisions of the U.S. tax code with respect to international transactions, highlighting the changes contained in the U.S. Tax Reform Act of 1986; explore the ways that tax systems influence the decisions of multinationals; examine the effect of taxation on trade patterns and capital flows; and discuss the implications of the opening world economy for the design of optimal international tax policy. The papers will prove valuable not only to scholars and students, but to government economists and international tax lawyers as well.
Author: Andreas Haufler
Publisher: Cambridge University Press
ISBN: 0521782767
Category : Business & Economics
Languages : en
Pages : 354
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Book Description
The increasing international mobility of capital, firms and consumers has begun to constrain tax policies in most OECD countries, playing a major role in reforming national tax systems. Haufler uses the theory of international taxation to consider the fundamental forces underlying this process, covering both factor and commodity taxes, as well as their interaction. Topics include a variety of different international tax avoidance strategies - capital flight, profit shifting in multinational firms, and cross-border shopping by consumers. Situations in which tax competition creates conflicting interests between countries are given particular consideration. Haufler addresses the complex issue of coordination in different areas of tax policy, with special emphasis on regional tax harmonization in the European Union. Also included is a detailed introduction to recent theoretical literature.
Author: Jane Gravelle
Publisher: MIT Press
ISBN: 9780262071581
Category : Business & Economics
Languages : en
Pages : 370
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Book Description
How should capital income be taxed to achieve efficiency and equity? In this detailed study, tax policy analyst Jane Gravelle, brings together comprehensive estimates of effective tax rates on a wide variety of capital by type, industry, legal form, method of financing, and across time. These estimates are combined with a history and survey of issues regarding capital income taxation that are aimed especially at bringing the findings of economic theory and recent empirical research to nonspecialists and policymakers. Many of the topics treated have been the subject of policy debate and legislation over the last ten or fifteen years.Should capital income be taxed at all? And, if capital income is to be taxed, what is the best way to do it? Gravelle devotes two chapters to the first question, and then, in answer to the second question, covers a broad range of topics - corporate taxation, tax neutrality, capital gains taxes, tax treatment of retirement savings, and capital income taxation and international competitiveness. Gravelle also includes a comprehensive history of tax institutions and data on constructing effective tax rates that are not available elsewhere.
Author: Hans-Werner Sinn
Publisher: North Holland
ISBN:
Category : Business & Economics
Languages : en
Pages : 436
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Book Description
This monograph investigates the intersectoral, international, and intertemporal allocation effects of alternative systems of capital income taxation characterized by different degrees of integration between corporate and personal taxation, depreciation rules, provisions for interest deductibility, and the like. The systems studied include those of the OECD countries as well as proposed systems advocated by various authors and tax committees. In contrast to the ''Harberger literature'', the book provides a microfoundation for the analysis of tax distortions. It is not assumed that the various components of capital income taxation can be lumped together as an ''effective tax rate'' that captures all the information relevant for assessing the distortions. Instead, the allocative roles of these components are explicitly derived from the households' and firms' optimization problems. Much emphasis is placed on the tax-induced interaction between the firms' real and financial decisions, and it is argued that this interaction fundamentally changes the nature of many of the tax distortions traditionally claimed for the real economy, sometimes even reversing their direction. All allocative results are derived from market equilibrium models. The distortion in the process of capital accumulation, for example, is studied in a perfect foresight intertemporal general equilibrium model with infinitely lived firms and households which is a decentralized version of the neoclassical model of optimal economic growth. Although basically theoretical, the book has a strong policy orientation and comments on a number of issues that are of current political concern. Particular attention is paid to the 1981 and 1986 U.S. tax reforms. It is argued that the 1981 reform was a major cause of the disturbances in international capital markets which troubled the world economy at the beginning of the eighties and that the 1986 policy of 'tax cut cum base broadening' will stimulate economic growth, but induce capital flight from the United States into the rest of the world.
Author: Peggy B. Musgrave
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 492
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Book Description
The globalization of economies and the vast expansion of foreign investment have greatly increased the problems of international taxation. Musgrave (economics, emerita, U. of California-Santa Cruz) argues that cross- border tax issues should not be left to the destructive forces of tax competition but should be handled through coordinating measures of international tax agreements, thereby minimizing tax distortions in the international flow of capital while leaving countries free to determine their own tax structures. The 22 essays are drawn from a variety of publications including technical papers prepared for the government and the World Bank, books, The Columbia Journal of World Business, Tax Law Review, and other publications. Annotation copyrighted by Book News, Inc., Portland, OR
Author: Horst Siebert
Publisher: Routledge
ISBN: 1000309363
Category : Political Science
Languages : en
Pages : 281
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Book Description
This book surveys the theoretical issues that characterize the problem of reforming capital income taxes in an open economy. It explores the tax incentives and disincentives to investment in an open economy framework allowing cross-border portfolio and direct investment.
Author: International Monetary Fund. Fiscal Affairs Dept.
Publisher: International Monetary Fund
ISBN: 149830219X
Category : Business & Economics
Languages : en
Pages : 91
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Book Description
The policy paper Corporate Taxation in the Global Economy stresses the need to maintain and build on the progress in international cooperation on tax matters that has been achieved in recent years, and in some respects now appears under stress. With special attention to the circumstances of developing countries, the paper identifies and discusses various options currently under discussion for the international tax system to ensure that countries, and in particular low-income countries, can continue to collect corporate tax revenues from multinational activities.
Author: Julian S. Alworth
Publisher: Oxford University Press
ISBN: 019162408X
Category : Business & Economics
Languages : en
Pages : 336
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Book Description
This is an open access title available under the terms of a CC BY-NC-ND 3.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. The financial crisis triggered a global debate on the taxation of the financial sector. A number of international policy initiatives, most notably by the G-20, have called for major changes to the tax treatment of financial institutions and transactions, as well as to working practice within the financial sector. This book examines how tax policies contributed to the financial crisis and whether taxation can play a role in the reform efforts to establish a sounder and safer financial system. It looks at the pros and cons of various tax initiatives including limiting the tax advantages to debt financing; special taxes on the financial sector; and financial transactions taxes. It examines policy concerns such as: the manner in which the financial sector should "pay" for its bailout and the role of accumulated tax losses on financial institutions' behaviour; the role that taxes may play in correcting the systemic externalities associated with "too big to fail"; the types of tax that are most appropriate for financial institutions and markets ("excess profits" versus "financial transactions taxes"); the interaction between taxes and the regulation of the financial sector; and the role of taxation in countercyclical and macroeconomic policies.
