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Taxation
Kinds of Taxation Terms modified by Taxation Selected AbstractsIMPACT OF E-COMMERCE ON QUEENSLAND TAXATIONECONOMIC PAPERS: A JOURNAL OF APPLIED ECONOMICS AND POLICY, Issue 1 2001DOMINIC L'HUILLIER First page of article [source] ON OPTIMAL ENVIRONMENTAL TAXATION AND ENFORCEMENT: INFORMATION, MONITORING AND EFFICIENCYNATURAL RESOURCE MODELING, Issue 1 2001CARLOS MARIO GÓMEZ GÓMEZ ABSTRACT. The purpose of the paper is to contribute to the narrowing of the distance between formal theory and practical environmental policy design. We formulate a general and comprehensive theoretical model in order to take into account the different informational and technological problems which characterize the definition and implementation of environmental taxes in a second best world where there also are distortionary taxes. Having formalized these problems, we present a general model which allows us to discuss the existence of efficient and implementable environmental quality objectives and policy instruments, and to analyze many particular cases. [source] Revenue Mobilisation in Sub-Saharan Africa: Challenges from Globalisation II , Corporate TaxationDEVELOPMENT POLICY REVIEW, Issue 5 2010Michael Keen This second article evaluates and discusses the challenges to government revenue in sub-Saharan Africa posed by developments in corporate taxation. Using the dataset described in the first article, it shows that, in broad terms, corporate tax revenues in the region have held up, despite a reduction in rates and evidence of substantial base-narrowing (mainly through the provision of tax holidays in Investment Codes and Free Zones). This is something of a puzzle. Options for dealing with the continuation and intensification of the challenges to these revenues, including through regional co-operation, are discussed. [source] Taxation in colonial America , By Alvin RabushkaECONOMIC HISTORY REVIEW, Issue 4 2009JOHN J. MCCUSKER No abstract is available for this article. [source] Taxation, warfare, and the early fourteenth century ,crisis' in the north: Cumberland lay subsidies, 1332,13481ECONOMIC HISTORY REVIEW, Issue 4 2005CHRIS BRIGGS Recent research into the impact of Anglo-Scottish conflict on northern England's economy has become increasingly sophisticated, using local estate accounts to enhance understanding of the role of war in the 'crisis' of the early fourteenth century. Yet taxation data also remains an important source on these issues, not least because of its wide geographical coverage. Using a rich series of lay subsidy documents for Cumberland, this article concludes that the direct impact of Scottish raids was only one of several determinants of economic fortunes. More significantly, reconstructing the process of taxation shows that non-violent resistance to state levies was as responsible as war damage for a decline in revenue from the county. [source] Regional Integration and the Co-ordination of Capital Income TaxationECONOMIC NOTES, Issue 1 2002Valeria De Bonis This paper addresses the question of the need for income tax harmonization in the context of regional integration. It analyses the international distortions and fiscal interdependence arising in the presence of tax rate differentials both under a theoretical and an empirical perspective, and with reference to actual experiences of harmonization attempts. Attention is also paid to the influence of the countries' size on the results, to the strategic behaviour of countries under different international taxations rules, and to the relationships with the countries excluded by the integration process. International tax uniformity does not appear to be the preferable solution, even if some form of concerted agreements might help in reducing inefficiencies deriving from taxation differentials. For instance, in the case of highly mobile factors, like financial capital, if the integrating countries apply the source principle and the interest rate is the same across them, the source-based tax rate on non residents must equal the residence country tax rate on residents. Such a rule would allow the countries to set autonomously their tax rate and, at the same time, eliminate cross-border effects. If there are more than two integrating countries, the tax rates on non residents should discriminate according to the internal tax rate of the residence country. (J.E.L.: H87, F20, H20). [source] Factor mobility and fiscal policy in the EU: policy issues and analytical approachesECONOMIC POLICY, Issue 31 2000David E. Wildasin Increased integration of labour and capital markets creates significant challenges for the welfare states of modern Europe. Taxation of capital and labour that finances extensive programmes of cash and in-kind redistribution creates incentives for capital owners and workers to locate in regions where they obtain favourable fiscal treatment. Competition among countries for mobile resources constrains their ability to alter the distribution of income and may lead to reductions in the size and scope of redistributive policies. Mobility of labour and capital is imperfect, however. Recent trends indicate that labour and capital are neither perfectly mobile nor perfectly immobile, but rather adjust gradually to market conditions and economic policies. This paper presents an explicitly dynamic analysis showing that governments can achieve some redistribution when it is costly for factors of production to relocate. As the costs of factor mobility fall, however, the effectiveness of redistributive policies is more limited, and governments have weaker incentives to pursue them. Liberalized immigration policies, EU enlargement, and other steps that promote integration of the factors markets of Western Europe with those of surrounding regions thus present a challenge to policy-makers if they also wish to maintain fiscal systems with extensive redistribution. [source] New Mexico's 1998 drive-up liquor window closure.ADDICTION, Issue 5 2004Study II: economic impact on owners ABSTRACT Aims This study examined the economic impact of the New Mexico legislative action closing drive-up liquor windows on the retail establishments that operated them. Design A telephone survey was conducted 20 months after the closure seeking information and owners' opinions about how their outlets had changed since the closure and how this affected their business. In addition, 2 years of aggregated pre- and post-closure total gross receipts revenues were obtained from the New Mexico Taxation and Revenue Department, with convenience stores as a comparison group. Findings Interviews were completed for 149 of 220 establishments. Over one-quarter of former drive-up liquor windows (28%) had been converted to ,step-in' sales, defined as an outside door where customers can stop and enter the premises while their car is running. Almost two-thirds (61%) of owners reported decreased annual gross revenues following closure, with a reported average 15% reduction in alcohol sales. This is consistent with findings of decreased gross receipts for operators of non-urban, but not urban, drive-up liquor windows compared to convenience store gross receipts. Almost three-quarters (72%) of those surveyed would re-open the drive-up window if the law were rescinded. Conclusion Over one-quarter of the drive-up owners converted to step-in alcohol sales that still allow a form of drive-up liquor sales. Despite this, the forced closure of New Mexico's drive-up liquor windows negatively impacted total sales and liquor sales revenues of establishments that operated them. [source] Joint Taxation and the Labour Supply of Married Women: Evidence from the Canadian Tax Reform of 1988,FISCAL STUDIES, Issue 3 2007Thomas F. Crossley The Canadian federal tax reform of 1988 replaced a spousal tax exemption with a non-refundable tax credit. This reduced the,jointness'of the tax system: after the reform, secondary earners'effective,first dollar'marginal tax rates no longer depended on the marginal tax rates of their spouses. In practice, the effective,first dollar'marginal tax rates faced by women with high-income husbands were particularly reduced. Using difference-indifference estimators, we find a significant increase in labour force participation among women married to higher-income husbands. [source] Who Benefits from the Reform of Pension Taxation in Germany?,FISCAL STUDIES, Issue 1 2007Hans Fehr The present paper quantifies the revenue, distributional and efficiency effects of the recent reform of pension taxation in Germany. The starting point is the new legislation, which has introduced a switch to the deferred taxation of retirement benefits starting in 2005. We compare this reform with an alternative transition proposed by the Federation of German Pension Insurance Institutes (VDR), where double taxation is avoided at the cost of higher revenue losses. Our simulations indicate significant growth and efficiency gains from the new tax legislation. Winners from the reform are mainly younger workers, while older workers, civil servants and the self-employed will lose. The VDR proposal would have resulted in higher efficiency gains, but also in stronger distributional consequences. [source] The Future of Capital Income Taxation,FISCAL STUDIES, Issue 4 2006Alan J. Auerbach First page of article [source] Optimal Factor Taxation under Wage Bargaining: A Dynamic PerspectiveGERMAN ECONOMIC REVIEW, Issue 2 2008Erkki Koskela Optimal taxation; imperfectly competitive labour markets; capital accumulation Abstract. We consider the issue of steady-state optimal factor taxation in a Ramsey-type dynamic general equilibrium setting with two distinct distortions: (i) taxes on capital and labour are the only available tax instruments for raising revenues and (ii) labour markets are subject to an inefficiency resulting from wage bargaining. If considered in isolation, the two distortions create conflicting demands on the wage tax, while calling for a zero capital tax. By combining the two distortions, we arrive at the conclusion that both instruments should be used, implying that the zero capital tax result in general is no longer valid under imperfectly competitive labour markets. [source] Environmental Taxation and Induced Structural Change in an Open Economy: The Role of Market StructureGERMAN ECONOMIC REVIEW, Issue 1 2008Christoph Böhringer Environmental taxation; imperfect competition; structural change Abstract. Studies of structural change induced by environmental taxation usually proceed in a perfect-competition framework and typically find structural change to be quite moderate under realistic emission reduction scenarios. By observing that some of the industries affected are likely to operate under imperfect rather than perfect competition, additional mechanisms emerge which may amplify structural change beyond the extent identified as yet. Especially, changes in economies of scale may arise which weaken or strengthen the competitive position of industries over and above the initial cost effect. Using a computable general equilibrium model for Germany to examine the effects of a unilaterally introduced carbon tax, we find that induced structural change is more pronounced under imperfect competition than under perfect competition. At the macroeconomic level, we find that aggregate losses in economies of scale are larger than aggregate gains, implying that the total costs of environmental regulation are higher under imperfect competition than under perfect competition. [source] Age-Dependent Taxation and the Optimal Retirement Benefit FormulaGERMAN ECONOMIC REVIEW, Issue 1 2008Mathias Kifmann Optimal taxation; pay-as-you-go pension systems; implicit taxation; intra- and intergenerational equity; financial stability Abstract. This paper presents a comprehensive view of lifetime taxation including both explicit taxation through the general tax system and implicit taxation via the retirement benefit formula. Differences in productivity between individuals are unobservable, which provides a rationale for the use of distortionary taxes. It is shown that the optimal structure of age-dependent taxation can be characterized by a generalized Ramsey formula. Furthermore, the paper derives the optimal retirement benefit formula in the presence of the general tax system and examines the compatibility with the financial stability of the pension system. [source] Labor Taxation in Search Equilibrium with Home ProductionGERMAN ECONOMIC REVIEW, Issue 4 2002Bertil Holmlund Conventional models of equilibrium unemployment typically imply that proportional taxes on labor earnings are neutral with respect to unemployment as long as the tax does not affect the replacement rate provided by unemployment insurance, i.e. unemployment benefits relative to after,tax earnings. When home production is an option, the conventional results may no longer hold. This paper uses a search equilibrium model with home production to examine the employment and welfare implications of labor taxes. The employment effect of a rise in a proportional tax is found to be negative for sufficiently low replacement rates, whereas it is ambiguous for moderate and high replacement rates. Numerical calibrations of the model indicate that employment generally falls when labor taxes are raised. [source] Partially Irreversible Investment Decisions and Taxation under Uncertainty: A Real Option ApproachGERMAN ECONOMIC REVIEW, Issue 2 2002Caren Sureth The paper applies contingent claims analysis in a real option investment model in order to investigate taxation's influence on investor's decisions under uncertainty. The results show the distortion from realistic-type tax systems, allow to identify a tax-induced paradox in option valuation for specific settings and acknowledge the property of investment neutrality of well-known ,ideal' tax systems in the context of different degrees of irreversibility. Furthermore, it is clarified that the idea of risk-neutral valuation cannot be adopted by the real option approach in general. [source] Union Wage Setting and Capital Income Taxation in Dynamic General EquilibriumGERMAN ECONOMIC REVIEW, Issue 2 2001Thomas Aronsson This paper concerns the effects of capital income taxation in a dynamic general equilibrium framework with union wage setting, when households face taxes related to both labor and capital. One purpose is to characterize the general equilibrium solution. Another is to study the effects of increased capital income taxation , in terms of the responses in real wages, employment, capital stock, output and consumption , and relate these behavioral responses to the overall tax structure. We also derive a cost,benefit rule for the purpose of analyzing the welfare effects of a small shift from labor income taxation to capital income taxation. [source] Estimating a Dynamic Model of Household Choices in the Presence of Income TaxationINTERNATIONAL ECONOMIC REVIEW, Issue 3 2000Holger Sieg The purpose of the article is to study the incentive and distributional consequences of income taxation. The article analyzes tax changes in a dynamic setting. The framework is estimated under a set of different identifying assumptions using parametric, nonparametric, and semiparametric techniques. The empirical results focus on tax reforms in Germany in the 1980s. The article shows that these reforms did not significantly lower effective tax rates. The findings also suggest that estimated elasticities for male labor supply are small, ranging between 0.02 and 0.2. [source] Personal Taxation in Firm Market Valuation: Theory and Test,ACCOUNTING PERSPECTIVES, Issue 1 2002ZENG TAO ABSTRACT In this paper, I extend Ohlson's 1995 firm market valuation model to incorporate personal taxes: the taxes on dividends and the taxes on capital gains. Without personal taxes, firm market value can be expressed as the present value of future benefits received by the shareholders (dividends, in this case). With personal taxes, the benefits received by the shareholders should be classified into three categories (due to their different tax treatments): dividends, share repurchases, and new share issues (i.e., contributed capital). The extended model shows the effects of personal taxation on firm market valuation: retained earnings are valued less than contributed stocks, both dividends taxes and capital gains taxes affect retained earnings valuation and firm market value, and firms choose cash distribution methods (paying dividends and repurchasing shares) to increase their retained earnings valuation, therefore increasing their market value. An empirical test using a sample from the Disclosure Select Canada and Financial Post Card data bases for the years 1995-98 supports these personal tax effects. [source] Effect of Taxation on Equal Access Share Buybacks in Australia,INTERNATIONAL REVIEW OF FINANCE, Issue 3-4 2005CHRISTINE BROWN ABSTRACT In Australia, equal access share buybacks can be structured so that a portion of the buyback price is designated as a fully franked dividend. The tax benefits derived from this structure imply that off-market buybacks are sometimes offered to shareholders at a discount to the current market price. This is in contrast to the United States, which operates under a classical taxation system, and where off-market buybacks are generally executed at a premium to the market price. The situation in Australia provides a unique opportunity to add to our understanding of taxation explanations for how and why companies buy back their shares. We find that the size of the discount of the offer price to the current share price is significantly related to the proportion of the buyback price designated a franked dividend. Analysis of the after-tax benefits to shareholders leads us to conclude that the structure of many equal access buybacks in Australia is advantageous to superannuation funds holding the stock. [source] The Globalization of Taxation?INTERNATIONAL STUDIES QUARTERLY, Issue 2 2003Electronic Commerce, the Transformation of the State The anticipated growth of new communications technologies, including the Internet and other digital networks, will make it increasingly difficult for states to tax global commerce effectively. Greater harmonization and coordination of national tax policies will likely be required in the coming years in order to address this problem. Given that the history of the state is inseparable from the history of taxation, this "globalization of taxation" could have far-reaching political implications. The modern state itself emerged out of a fiscal crisis of medieval European feudalism, which by the 14th and 15th centuries was increasingly incapable of raising sufficient revenues to support the mounting expenses of warfare. If new developments in the technology of commerce are now undermining the efficiency of the state as an autonomous taxing entity, fiscal pressures may produce a similar shift in de facto political authority away from the state and toward whatever international mechanisms are created to expedite the taxation of these new forms of commerce. [source] The Valuation of Deferred Taxation: Evidence from the UK Partial Provision ApproachJOURNAL OF BUSINESS FINANCE & ACCOUNTING, Issue 7-8 2001David B. Citron The UK provides a virtually unique environment in which to examine the information content of the partial provision approach to deferred tax accounting. In addition this issue is of particular interest to UK accounting standard setters in the light of trends towards international accounting standard harmonisation. Taking the total amount of deferred taxation to be equal to the partial balance sheet provision plus the potential portion appearing in the notes, this study tests the relationship between these various deferred tax components and market value. It also examines the economic rationale for the potential portion. The study is based on 1,512 company/years from the period 1989,1991. It finds that, while the full amount of deferred taxation is not valued by the market as a liability, there is evidence of the partial balance sheet provision being so valued. There is also evidence that the potential portion is positively related to market value, consistent with its proxying for information about future growth. This result is supported by the positive relation between the potential portion and measures of future capital spending, indicative of an underlying economic rationale for this deferred taxation component. From a regulatory perspective, the study concludes that the main benefit of the partial provision approach is that the balance sheet amount constitutes a reasonably reliable measure of the portion likely to crystallise as a liability, information that would be lost were only the full amount to be disclosed. [source] International Asset Trade, Capital Income Taxation, and Specialization PatternsJOURNAL OF PUBLIC ECONOMIC THEORY, Issue 5 2008KOICHI FUTAGAMI This paper constructs a small economy version of dynamic Heckscher-Ohlin models with overlapping generations and analyzes effects of capital income taxation on the specialization pattern of the country. It is shown that once international asset trade is allowed, in the presence of international technological asymmetries, a small country eventually leads to perfect specialization in our overlapping generations model. It is also shown that the residence-based tax has no effect on the specialization pattern while the source-based tax has a negative effect on capital accumulation and thereby it can affect the specialization pattern of the small country. [source] Intergenerational Allocation of Government Expenditures: Externalities and Optimal TaxationJOURNAL OF PUBLIC ECONOMIC THEORY, Issue 1 2008KAZI IQBAL This paper studies optimal capital and labor income taxes when the benefits of public goods are age-dependent. Provided the government can impose a consumption tax, it can attain the first-best resource allocation. This involves the uniform taxation of the cohorts' labor income and a zero capital income tax. With no consumption tax and optimally chosen government spending, labor income should be taxed nonuniformly across cohorts and the capital income tax should be nonzero. Deviations of the public goods from their respective optima create distortions. These affect the labor supply decisions of both cohorts and capital accumulation, providing a further reason to tax (or subsidize) capital income. [source] When Redistribution Leads to Regressive TaxationJOURNAL OF PUBLIC ECONOMIC THEORY, Issue 4 2007CYRIL HARITON We introduce labor contracts in a framework of optimal redistribution: firms have some local market power and try to discriminate among heterogeneous workers. In this setting we show that if the firms have perfect information, i.e., they perfectly discriminate against workers and take all the surplus, the best tax function is flat. If firms have imperfect information, i.e., if they offer incentive contracts, then (under some assumptions) the best redistributive taxation is regressive. [source] Asymmetric Taxation under Incremental and Sequential InvestmentJOURNAL OF PUBLIC ECONOMIC THEORY, Issue 5 2005PAOLO M. PANTEGHINI This paper discusses the effects of an asymmetric tax scheme on incremental and sequential investment strategies. The tax base is equal to the firm's return, net of an imputation rate. When the firm's return is less than this rate, however, no tax refunds are allowed. This scheme is neutral under both income and capital uncertainty. [source] International Commodity Taxation under Monopolistic CompetitionJOURNAL OF PUBLIC ECONOMIC THEORY, Issue 3 2004Andreas Haufler We analyze non-cooperative commodity taxation in a two-country trade model characterized by monopolistic competition and international firm and capital mobility. In this setting, taxes in one country affect foreign welfare through the relocation of mobile firms and through changes in the rents accruing to capital owners. With consumption-based taxation, these fiscal externalities exactly offset each other and the non-cooperative tax equilibrium is Pareto efficient. With production-based taxation, however, there are additional externalities on the foreign tax base and the foreign price level that lead non-cooperative tax rates to exceed their Pareto efficient levels. [source] On the Popular Support for Progressive TaxationJOURNAL OF PUBLIC ECONOMIC THEORY, Issue 4 2003Esteban F. Klor The "popular support for progressive taxation theorem" (Marhuenda and Ortuño-Ortín, 1995) provides an important formalization of the intuition that a majority of relatively poor voters over rich ones leads to progressive income taxation. Yet the theorem does not provide an equilibrium outcome. In addition, it assumes an overly restrictive domain of tax schedules and no incentive effects of income taxation. This paper shows that none of these assumptions of the theorem can be relaxed completely. Most notably, it is shown that a majority of poor voters does not imply progressive taxation in a more general policy space and that a regressive tax schedule may obtain a majority over a progressive one when individuals' income is endogenous. [source] Electoral Systems, Legislative Process, and Income TaxationJOURNAL OF PUBLIC ECONOMIC THEORY, Issue 1 2000Yan Chen We characterize the equilibrium income tax schedules and the optimality conditions under two types of political institutions, a two-party plurality system with a single district, and one with multiple districts where tax policies are determined through a legislature. It is shown that the exogenous social welfare functions in the optimal taxation literature can be endogenously determined by explicitly modeling the political institutions, which put different welfare weights on different subsets of the population. This paper also extends the Coughlin probabilistic voting model and the Baron,Ferejohn legislative bargaining model to a function space. [source] Taxation and Global Justice: Closing the Gap between Theory and PracticeJOURNAL OF SOCIAL PHILOSOPHY, Issue 2 2008Gillian Brock First page of article [source] | |||||||||||||||||||||||||||||||||||||