Trade and economic impacts of destination-based corporate taxes

Trade and economic impacts of destination-based corporate taxes
Author :
Publisher : Intl Food Policy Res Inst
Total Pages : 28
Release :
ISBN-10 :
ISBN-13 :
Rating : 4/5 ( Downloads)

Book Synopsis Trade and economic impacts of destination-based corporate taxes by : Martin, Will

Download or read book Trade and economic impacts of destination-based corporate taxes written by Martin, Will and published by Intl Food Policy Res Inst. This book was released on 2017-02-09 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Current US proposals for destination-based corporate taxes that effectively combine a value-added tax (VAT) and a wage subsidy raise important policy questions for countries considering them, and for their trading partners. This tax/subsidy package would not create trade barriers or export subsidies, and any changes in trade would result from the measures’ distributional consequences or short-run impacts on output. The package would leave business profits and rents untaxed, placing the burden of the tax entirely on consumers, with no offset from exchange rate appreciation. If anything, its introduction could cause a short-run real exchange rate depreciation. A key concern regarding this package is its small, volatile, and vulnerable revenue yield. At current US consumption and labor shares of gross domestic product (GDP), a 20 percent corporate cash-flow tax with a wage subsidy would generate only around 2 percent of GDP in revenues, a result that could be obtained with much less volatility from a 2.8 percent tax without the wage subsidy. Under the tax/subsidy regime, revenues would become negative if consumption and labor shares returned to their historical norms, requiring increases in other taxes. A 20 percent tax would raise consumer prices by up to 27 percent, taking into account state sales taxes, sharply cutting the living standards of people on fixed incomes. The average combined consumption tax rate of 33 percent would be the highest in the world and more than double the world-average VAT rate, creating incentives for avoidance and evasion.


Trade and economic impacts of destination-based corporate taxes Related Books

Trade and economic impacts of destination-based corporate taxes
Language: en
Pages: 28
Authors: Martin, Will
Categories: Political Science
Type: BOOK - Published: 2017-02-09 - Publisher: Intl Food Policy Res Inst

GET EBOOK

Current US proposals for destination-based corporate taxes that effectively combine a value-added tax (VAT) and a wage subsidy raise important policy questions
The X Tax in the World Economy
Language: en
Pages: 68
Authors: David F. Bradford
Categories: Business & Economics
Type: BOOK - Published: 2004 - Publisher: A E I Press

GET EBOOK

This study explores how the tax design called the X tax could alleviate the complexities and avoidance opportunities plaguing the existing U.S. system for taxin
Doing Business 2020
Language: en
Pages: 254
Authors: World Bank
Categories: Business & Economics
Type: BOOK - Published: 2019-11-21 - Publisher: World Bank Publications

GET EBOOK

Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of
Tax Policy and the Economy
Language: en
Pages: 200
Authors:
Categories: Taxation
Type: BOOK - Published: 1993 - Publisher:

GET EBOOK

Prices received by o
Language: en
Pages: 24
Authors:
Categories: Milk
Type: BOOK - Published: 1924 - Publisher:

GET EBOOK