Allowances for corporate equity in practice

CESifo Economic Studies

Volumn 53, Issue 2, 2007, Pages 229-262

  Klemm, Alexander ^a  

^a INTERNATIONAL MONETARY FUND   (United States)

Author keywords

Allowance for corporate equity; Corporate income tax; Tax reform

Indexed keywords

CAPITAL; DEBT; EMPIRICAL ANALYSIS; EQUITY; INVESTMENT; TAX REFORM; TAX SYSTEM;

AUSTRIA; BRAZIL; CENTRAL EUROPE; CROATIA; EURASIA; EUROPE; ITALY; SOUTH AMERICA; SOUTHERN EUROPE;

EID: 34547904269     PISSN: 1610241X     EISSN: None     Source Type: Journal    
DOI: 10.1093/cesifo/ifm007     Document Type: Review

References (31)

1. Blundell, R., S.R. Bond and M.P. Devereux et al. (1992), "Investment and Tobin's Q: Evidence from Company Panel Data", Journal of Econometrics 51, 233-57.
2. Boadway, R. and N. Bruce (1984), "A General Proposition on the Design of a Neutral Business Tax", Journal of Public Economics 24, 231-39.
3. Bond, S.R. (2000), "Levelling Up or Levelling Down? Some Reflections on the ACE and CBIT Proposals, and the Future of the Corporate Tax Base", in S. Cnossen, ed., Taxing Capital Ineonte in the European Union, Oxford University Press, Oxford.
4. Bond, S.R., M.P. Devereux and A. Klemm (2007), "Dissecting Dividend Decisions: Some Clues About the Effects of Dividend Taxation from Recent UK Reforms", in A. Auerbach, J. Hines and J. Slemrod, eds., Taxing Corporate Ineome in the 21st Century, Cambridge University Press, Cambridge.
5. Bordignon, M., S. Giannini and P. Panteghini (1999), "Corporate Taxation in Italy: An Analysis of the 1998 Reform", FinanzArchiv 56(3/4), 335-62.
6. Bordignon, M., S. Giannini and P. Panteghini (2001), "Reforming Business Taxation: Lessons from Italy?", International Tax and Public Finanee 8, 191-210.
7. Brennan, M.J. (1970), "Taxes, Market Valuation and Financial Policy", National Tax Journal 23(4), 417-29.
8. Bresciani, V. and S. Giannini (2003), "Effective Marginal and Average Tax Rates in Italy, 1990-2003", Prometeia Working Paper No. 2003-01.
9. Devereux, M.P. and H. Freeman (1991), "A General Neutral Profits Tax", Fiscal Studies 12(3), 1-15.
10. Devereux, M.P. and R. Griffith (1998), "Taxes and the Location of Production: Evidence from a Panel of U.S. Multinationals", Journal of Public Eeonomics 63(3), 335-67.
11. Devereux, M.P. and R. Griffith (2003), "Evaluating Tax Policy for Location Decisions", International Tax and Public Finance 10 107-26.
12. Fane, G. (1987), "Neutral Taxation Under Uncertainty", Journal of Public Economics 33(1), 95-105.
13. Fehr, H. (2003), "ACE for Germany? Fighting for a Better Tax System", in M. Ahlheim, H.-D. Wenzel and W. Wiegard, eds., Steuerpolitik - Von der Theorie zur Praxis, Festsehrift für Manfred Rose, Springer-Verlag, Berlin.
14. Genser, B. (2002), "Zur Reform der Unternehmensbesteuerung in Österreich", in E. Theurl, R. Sausgruber and H. Winner, eds., Kompendium der österreichischen Finanzpolitik, Springer-Verlag, Berlin.
15. Gerard, M. (2006a), "A Closer Look at Belgium's Notional Interest Deduction", Tax Notes International, February 6, 449-53.
16. Gerard, M. (2006b), "Belgium Moves to Dual Allowance for Corporate Equity", European Taxation 4, 156-62.
17. Hayashi, F. (1982), "Tobin's Average Q and Marginal Q: A Neoclassical Interpretation", Econometrica 50, 213-24.
18. IFS (1991), "Equity for Companies: A Corporation Tax for the 1990s", Commentary 26, Institute for Fiscal Studies (London).
19. Isaac, J. (1997), "A Comment on the Viability of the Allowance for Corporate Equity", Fiscal Studies 18(3), 303-18.
20. Jacobs, O.H. (1997), "The Allowance for Corporate Equity as a Method of Harmonizing Corporate Taxation in Europe?", Intertax 25, 232-46.
21. Keen, M. (2003), "Tax Reform in Italy", Tax Notes International, February 17, 665-82.
22. Keen, M. and J. King (2002), "The Croatian Profit Tax: An ACE in Practice", Fiscal Studies 23(3), 401-18.
23. Kleinbard, E. (2005), "Designing an Income Tax on Capital", paper presented at the Conference on Taxing Capital Income, Brookings Institution, Washington.
24. Oropallo, F. and V. Parisi (2005), "Will Italy's tax reform reduce the corporate tax burden? A Microsimulation Analysis," SIEP Working Paper No. 403.
25. Oropallo, F. and V. Parisi (2007), Will Italy's Tax Reform Reduce the Corporate Tax Burden? A Microsimulation Analysis, ISTAT and University of Cassino (unpublished).
26. Rose, M. and R. Wiswesser (1998), "Tax Reform in Transition Economies: Experiences from the Croatian Tax Reform Process of the 1990s", in P.B. Sorensen, ed., Public Finance in a Changing World, Macmillan Press, London.
27. Sadka, E. (1991), "An Inflation-Proof Tax System? Some Lessons from Israel", Staff Papers, International Monetary Fund, 38(1), 135-55.
28. Santoro, A. (2005), "The Italian Partial ACE: An Ex-Post Evaluation", University of Milano-Biocca (unpublished).
29. Staderini, A. (2001), "Tax reforms to influence corporate financial policy: The case of the Italian business tax reform of 1997-98", Banca d'Italia Working Paper No. 423.
30. US Department of Treasury (1992), Integration of the Individual and Corporate Tax Systems: Taxing Business Income Once, US Government Printing Office, Washington.
31. Wenger, E. (1983), "Gleichmäßigkeit der Besteuerung von Arbeits- und Vermögenseinkünften", FinanzArchiv 41(2), 207-52.