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The Taxation of Income from Capital: A Comparative Study of the U.S., U.K., Sweden and West Germany--Comparisons of Effective Tax Rates--

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Author Info

  • Mervyn A. King
  • Don Fullerton

Abstract

This working paper presents Chapter 7 of a book to be published for the National Bureau of Economic Research by the University of Chicago Press. The point of the book is to compare taxes on income from capital in four countries,accounting for corporate, personal, and property taxes, and including national,regional, and local level taxes. We describe statutory tax rates and other tax rules in each country and calculate overall effective marginal tax ratesfor different combinations of asset, industry, source of finance, and ownership categories.This chapter compares effective tax rates in the four countries for different assets, industries, sources of finance, and ownership categories.Differences in overall effective tax rates among countries are attributed to differences in rates of inflation, actual depreciation,tax parameters, or differences in the amount of capital in each combination.For each country,we plot the effect of inflation on overall tax rates, and we plot the distribution of different effective tax rates at a given rate of inflation. We further investigate the sensitivity of results to assumptions about inflation and interest rates.

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File URL: http://www.nber.org/papers/w1073.pdf
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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 1073.

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Date of creation: Feb 1983
Date of revision:
Publication status: published as King. M. A. and D. Fullerton. "The Taxation of Income From Capital: A Comparative Stdy of the U.S., U.K., Sweden & W. Germany--Comparisions of Effective Tax Rates." The Taxation of Income From Capital: A Comparative Stdy of the U.S., U.K., Sweden & W. Grmny, ed. by M. King & D. Fullerton. UCP (1984)
Handle: RePEc:nbr:nberwo:1073

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References

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  1. Martin Feldstein & Lawrence Summers, 1983. "Inflation, Tax Rules, and the Long-term Interest Rate," NBER Chapters, in: Inflation, Tax Rules, and Capital Formation, pages 153-185 National Bureau of Economic Research, Inc.
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Cited by:
  1. Jason G. Cummins & Kevin A. Hassett & R. Glenn Hubbard, 1995. "Tax Reforms and Investment: A Cross-Country Comparison," NBER Working Papers 5232, National Bureau of Economic Research, Inc.
  2. J├╝ttemeier, Karl-Heinz, 1987. "Subsidizing the Federal German economy: Figures and facts, 1973 - 1984," Kiel Working Papers 279, Kiel Institute for the World Economy.
  3. Peter J. Klenow & Andres Rodriguez-Clare, 2004. "Externalities and Growth," NBER Working Papers 11009, National Bureau of Economic Research, Inc.
  4. Jason G. Cummins & R. Glenn Hubbard, 1994. "The Tax Sensitivity of Foreign Direct Investment: Evidence from Firm-Level Panel Data," NBER Working Papers 4703, National Bureau of Economic Research, Inc.
  5. Don Fullerton, 1983. "Which Effective Tax Rate?," NBER Working Papers 1123, National Bureau of Economic Research, Inc.

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