Impact of tax reform and simplification proposals on small business
Title | Impact of tax reform and simplification proposals on small business PDF eBook |
Author | United States. Congress. Senate. Committee on Small Business |
Publisher | |
Pages | 328 |
Release | 1985 |
Genre | Small business |
ISBN |
Small Business Tax Reform
Title | Small Business Tax Reform PDF eBook |
Author | United States. Congress. Senate. Select Committee on Small Business |
Publisher | |
Pages | 722 |
Release | 1975 |
Genre | Small business |
ISBN |
Tax Reform: Final Report
Title | Tax Reform: Final Report PDF eBook |
Author | Pennsylvania Business Tax Reform Commission |
Publisher | |
Pages | |
Release | 2004 |
Genre | Corporations |
ISBN |
Tax Reform
Title | Tax Reform PDF eBook |
Author | United States. Congress. Senate. Committee on Small Business and Entrepreneurship |
Publisher | |
Pages | 120 |
Release | 2017 |
Genre | Economic development |
ISBN |
OECD Tax Policy Studies Fundamental Reform of Corporate Income Tax
Title | OECD Tax Policy Studies Fundamental Reform of Corporate Income Tax PDF eBook |
Author | OECD |
Publisher | OECD Publishing |
Pages | 174 |
Release | 2007-11-13 |
Genre | |
ISBN | 9264038124 |
Presents the recent trends in the taxation of corporate income in OECD countries, discusses the main drivers of corporate income tax reform and evaluates the gains of fundamental corporate tax reform.
Corporate Tax Reform: From Income to Cash Flow Taxes
Title | Corporate Tax Reform: From Income to Cash Flow Taxes PDF eBook |
Author | Benjamin Carton |
Publisher | International Monetary Fund |
Pages | 34 |
Release | 2019-01-16 |
Genre | Business & Economics |
ISBN | 1484395174 |
This paper uses a multi-region, forward-looking, DSGE model to estimate the macroeconomic impact of a tax reform that replaces a corporate income tax (CIT) with a destination-based cash-flow tax (DBCFT). Two key channels are at play. The first channel is the shift from an income tax to a cash-flow tax. This channel induces the corporate sector to invest more, boosting long-run potential output, GDP and consumption, but crowding out consumption in the short run as households save to build up the capital stock. The second channel is the shift from a taxable base that comprises domestic and foreign revenues, to one where only domestic revenues enter. This leads to an appreciation of the currency to offset the competitiveness boost afforded by the tax and maintain domestic investment-saving equilibrium. The paper demonstrates that spillover effects from the tax reform are positive in the long run as other countries’ exports benefit from additional investment in the country undertaking the reform and other countries’ domestic demand benefits from improved terms of trade. The paper also shows that there are substantial benefits when all countries undertake the reform. Finally, the paper demonstrates that in the presence of financial frictions, corporate debt declines under the tax reform as firms are no longer able to deduct interest expenses from their profits. In this case, the tax shifting results in an increase in the corporate risk premia, a near-term decline in output, and a smaller long-run increase in GDP.
From Sword to Shield
Title | From Sword to Shield PDF eBook |
Author | Steven A. Bank |
Publisher | Oxford University Press |
Pages | 304 |
Release | 2010-03-24 |
Genre | Law |
ISBN | 019971696X |
The U.S. corporate income tax - and in particular the double taxation of corporate income - has long been one of the most criticized and stubbornly persistent aspects of the federal revenue system. Unlike in most other industrialized countries, corporate income is taxed twice, first at the entity level and again at the shareholder level when distributed as a dividend. The conventional wisdom has been that this double taxation was part of the system's original design over a century ago and has survived despite withering opposition from business interests. In both cases, history tells another tale. Double taxation as we know it today did not appear until several decades after the corporate income tax was first adopted. Moreover, it was embraced by corporate representatives at the outset and in subsequent years businesses have been far more ambivalent about its existence than is popularly assumed. From Sword to Shield: The Transformation of the Corporate Income Tax, 1861 to Present is the first historical account of the evolution of the corporate income tax in America. Professor Steven A. Bank explains the origins of corporate income tax and the political, economic, and social forces that transformed it from a sword against evasion of the individual income tax to a shield against government and shareholder interference with the management of corporate funds.