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L’imposition des revenus de l’investissement en Europe, une hétérogénéité coûteuse

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  • Gérard, Marcel

    (Facultés Universitaires Catholiques de Mons)

Abstract

Taxation of capital income on the European Union territory is characterised by the autonomy of parcelled jurisdictions on one hand, and by the integration of capital market on the other hand. Such a situation prepares the way for an interjurisdictional competition. Such competition is costly in terms of social welfare, due to the involved loss of tax revenue and the induced changes in the distribution of public finances' charge and in the allocation of governments' expenditures. In this article we first describe that situation; then we propose an analysis based on standard public finance theory, and, finally we discuss some avenues to abandon that costly heterogeneity. L’imposition des revenus du capital en Europe est caractérisée par l’autonomie de juridictions parcellisées d’une part, l’intégration du marché du capital d’autre part. Cette situation ouvre la voie à une concurrence entre juridictions coûteuse en termes de bien-être, tant du fait des pertes de recettes fiscales qu’elle implique, que des modifications qu’elle induit dans la distribution de la charge des dépenses publiques et l’allocation des dépenses des États. Dans cet article nous commençons par décrire cette situation, ensuite nous en proposons une analyse, lecture selon la grille du discours économique sur les finances publiques, enfin nous discutons quelques pistes pour sortir de cette hétérogénéité coûteuse.

Suggested Citation

  • Gérard, Marcel, 1999. "L’imposition des revenus de l’investissement en Europe, une hétérogénéité coûteuse," L'Actualité Economique, Société Canadienne de Science Economique, vol. 75(1), pages 401-426, mars-juin.
    • Handle: RePEc:ris:actuec:v:75:y:1999:i:1:p:401-426
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