The Tax Structure and Canadian Trade PDF Download
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Author: James R. Melvin
Publisher: Economic Council of Canada
ISBN:
Category : Canada
Languages : en
Pages : 196
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Book Description
Author: James R. Melvin
Publisher: Economic Council of Canada
ISBN:
Category : Canada
Languages : en
Pages : 196
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Book Description
Author: Roger Hall Gordon
Publisher:
ISBN:
Category : Canada
Languages : en
Pages : 42
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Book Description
To what degree will the recent free-trade agreement create pressure on the U.S. and Canada to modify, and perhaps harmonize, their tax systems? What will be the implications of the more extensive policy changes now going on within the E.C.? This paper examines the types of pressures for reform created by recent agreements, focussing in turn on the pressures created by capital mobility, elimination to tariff and nontariff barriers, and mobility of individuals. As shown in the local public finance literature, unrestricted individuals and firms pay tax in accordance with the costs they impose on the community. More limited mobility should have more limited effects. Since existing national tax structures differ dramatically from those that have evolved to finance local governments, however, even limited mobility can force substantial changes in each country's fiscal structure. In addition to characterizing the equilibrium tax structure that should result, given increased mobility, the paper also explores the circumstances in which there can be mutual gains from moving away from the equilibrium tax structure.
Author: Ronald Robertson
Publisher:
ISBN:
Category : Canada Commerce
Languages : en
Pages : 42
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Author: John B. Shoven
Publisher: University of Chicago Press
ISBN: 0226754820
Category : Business & Economics
Languages : en
Pages : 400
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Book Description
In the increasingly global economy, domestic tax policies have taken on a new importance for international economics. This unique volume compares the tax reform experiences of Canada and the United States, two countries with the world's largest bilateral flow of trade and investment. With the signing of the U.S.-Canada Free Trade Agreement and the tax reforms of the 1980s, there has been some harmonization of tax systems. But geographic, cultural, and political characteristics shape distinct national social policies that may impede harmonization. As the U.S. and Canadian economies become even more integrated, differences in tax systems will have important effects, in particular on the relative rates of economic growth. In this timely study, scholars from both countries show that, while the United States and Canada exhibit similar corporate tax structures and income tax systems, they have very different approaches to sales tax and social security taxes. Despite these differences, the two countries generate roughly the same amounts of revenue, produce similar costs of capital, and produce comparable distributions of income.
Author: John Harvey Perry
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 352
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Author: Vancouver Board of Trade
Publisher: Vancouver Board of Trade
ISBN:
Category : Taxation
Languages : en
Pages : 42
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Book Description
Author: World Bank
Publisher: World Bank Publications
ISBN: 1464814414
Category : Business & Economics
Languages : en
Pages : 241
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Book Description
Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Author: Arthur Andersen & Co
Publisher:
ISBN:
Category : Commercial law
Languages : en
Pages : 88
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Book Description
Author: Arthur Andersen & Co
Publisher:
ISBN:
Category : Commercial law
Languages : en
Pages : 9
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Author: Paul McDaniel
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper builds on prior short pieces I have done on trade and taxation. I drew three conclusions from that prior work: 1. A normative income tax structure and free trade principles do not conflict with each other. 2. The tax provisions that are part of a normative tax structure should be outside the scope of trade agreements and procedures. 3. Subsidies run through the tax system (tax expenditures) should be subject to scrutiny under trade agreements just as are direct subsidies. A country cannot insulate a subsidy from challenge under trade agreements simply by placing it in a tax system. In Part I of the paper, I first review the history of the Domestic International Sales Corporation (DISC) provisions. commencing with the challenge by the European Communities (EC) and Canada under the then-existing GATT procedure. The DISC regime was found to violate U.S. obligations under GATT. Congress responded by enacting the Foreign Sales Corporation (FSC) system. The EC challenged this program and a WTO Dispute Panel found that the FSC regime violated U.S. WTO obligations. The decision was affirmed by a WTO Appellate Body. Congress tried again by enacting the Extraterritorial Income Exclusion Act (ETI) but this system too was stricken down by a WTO Dispute Panel and an Appellate Body affirmed the decision. I examine the arguments put forth by the EC and the U.S. in both the FSC and ETI cases as well as the basis for the decisions by the WTO bodies. I briefly examine the standard by which the WTO body approved some $4 billion in countermeasures against the U.S. Those sanctions are scheduled to go into effect March 1, 2004 if the U.S. has not terminated the ETI regime. I then turn to an assessment of the FSC and ETI decisions from three perspectives: legal/structural, economic, and sovereignty/political. From the legal/structural perspective, I conclude that the WTO decisions were correct under applicable WTO provisions and focus particularly on the methodology employed to determine whether a particular regime constitutes a "subsidy" or not. Assessing the decisions from an economic perspective, I begin by sketching briefly the case for free trade and then examine whether the FSC and ETI regimes likely increased or decreased both U.S. and global welfare. Economic theory suggests that the welfare of each was decreased by the subsidies. Unfortunately, there is little empirical work available to test the theory. What little there is suggests that U.S. exports may have increased as a result of the subsidies, but do not address whether this increase was achieved at an acceptable revenue cost or the welfare effects of the subsidies. I conclude this part of the paper by noting the impact of currency exchange rates on the effectiveness of the subsidies. The final part of the paper examines the WTO decisions from what I call a sovereignty/political perspective. I first test out whether the U.S. sacrifices an acceptable level of sovereignty on entering into the WTO agreements in the first place and whether the WTO decisions represent a further and unacceptable invasion of U.S. sovereignty. Building on work by Professor Michael Schaefer, I conclude that the U.S. has sufficient built-in processes to protect it from intrusive invasion of its sovereignty by virtue of the WTO agreement and FSC/ETI decisions. From a political perspective, I assess the arguments that the FSC/ETI provisions are needed to put U.S. multinationals on a competitive level with multinationals from exemption countries. I show that this argument has no economic or factual basis and should be rejected.
