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Globalisation and the Future of the Corporate Income Tax

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Author Info
Bev Dahlby (Department of Economics, University of Alberta, Canada)

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Abstract

Concerns have been expressed that, in an era of high capital mobility, international tax competition will lead to an inexorable decline in taxes levied on capital, shifting the tax burden to the relative immobile inputs, labour, and land. Some view this as a threat to the financial and political underpinnings of the welfare state, which is based on the redistribution of income. On the other hand, as Mintz (1992) pointed out, with globalisation there may be more opportunities to shift the burden of taxation to foreigners, especially if other governments provide foreign tax credit, because globalisation may increase the share of the assets in the economy that are owned by foreigners. In this paper, I develop some analytical models to determine how these offsetting forces will affect the optimal rates of capital taxation in a small open economy.

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File URL: http://www.atax.unsw.edu.au/research/RePEc/discus/ATAXDiscussionPaperNo9.pdf
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Paper provided by ATAX, University of New South Wales in its series Taxation with number Discussion Paper #9.

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Length: 28 pages
Date of creation: 01 Aug 2002
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Handle: RePEc:nsw:discus:09

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Keywords: Optimal Capital Taxation globalisation and taxation analytical model

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References listed on IDEAS
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  1. Gordon, Roger H, 1992. " Can Capital Income Taxes Survive in Open Economies?," Journal of Finance, American Finance Association, vol. 47(3), pages 1159-80, July. [Downloadable!] (restricted)
    Other versions:
  2. Huizinga, Harry & Nielsen, Soren Bo, 1997. "Capital income and profit taxation with foreign ownership of firms," Journal of International Economics, Elsevier, vol. 42(1-2), pages 149-165, February. [Downloadable!] (restricted)
    Other versions:
  3. Keen, M. & Marchand, M., 1996. "Fiscal Competition and the Pattern of Public Spending," Papers 9601, Catholique de Louvain - Center for Operations Research and Economics.
    Other versions:
  4. Peter Birch Sorensen, 2001. "International Tax Coordination: Regionalism Versus Globalism," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
  5. Feldstein, Martin & Hartman, David, 1979. "The Optimal Taxation of Foreign," The Quarterly Journal of Economics, MIT Press, vol. 93(4), pages 613-29, November. [Downloadable!] (restricted)
  6. Rosanne Altshuler & Harry Grubert, 2002. "Where will they go if we go territorial? Dividend exemption and the location decisions of U.S. multinational corporations," Departmental Working Papers 200201, Rutgers University, Department of Economics. [Downloadable!]
  7. Hines, James R, Jr, 1996. "Altered States: Taxes and the Location of Foreign Direct Investment in America," American Economic Review, American Economic Association, vol. 86(5), pages 1076-94, December. [Downloadable!] (restricted)
  8. Hartman, David G., 1985. "Tax policy and foreign direct investment," Journal of Public Economics, Elsevier, vol. 26(1), pages 107-121, February. [Downloadable!] (restricted)
  9. Jane Gravelle & Kent Smetters, 2001. "Who Bears the Burden of the Corporate Tax in The Open Economy?," NBER Working Papers 8280, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  10. Gordon, Roger H, 1986. "Taxation of Investment and Savings in a World Economy," American Economic Review, American Economic Association, vol. 76(5), pages 1086-1102, December. [Downloadable!] (restricted)
  11. Joel Slemrod, 1991. "Tax Effects on Foreign Direct Investment in the United States: Evidencefrom a Cross-Country Comparison," NBER Working Papers 3042, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  12. Jack M. Mintz, 1992. "Is There a Future for Capital Income Taxation?," OECD Economics Department Working Papers 108, OECD Economics Department. [Downloadable!]
  13. Peter Birch Sørensen, . "International Tax Coordination: Regionalism versus Globalism," EPRU Working Paper Series 01-08, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics. [Downloadable!]
  14. Shah, Anwar & Slemrod, Joel, 1991. "Do Taxes Matter for Foreign Direct Investment?," World Bank Economic Review, Oxford University Press, vol. 5(3), pages 473-91, September.
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