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Repatriierungspolitik unter Unsicherheit: lohnt sich die Optimierung

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  • Schanz, Sebastian

Abstract

Dieser Beitrag untersucht, inwieweit sich die Optimierung der Kapitalrückführung bei grenzüberschreitenden Realinvestitionen in einer österreichischen Tochterkapitalgesellschaft lohnt, wenn die Anteile in einer deutschen Einzelunternehmung gehalten werden. Dazu werden im Rahmen eines mehrperiodigen Modells Besteuerungselemente aus Deutschland und Österreich wie bspw. ein progressiver Einkommensteuertarif und Verlustverrechnungsbeschränkungen berücksichtigt. Die Unsicherheit wird mittels einer Monte-Carlo-Simulation modelliert. Die Ergebnisse zeigen, dass durch die Optimierung der Kapitalrückführung unter Berücksichtigung progressiver Steuertarife beträchtliche Endvermögenssteigerungen im Vergleich zur Repatriierungsentscheidung anhand von Nominalsteuersätzen erzielt werden können.

Suggested Citation

  • Schanz, Sebastian, 2007. "Repatriierungspolitik unter Unsicherheit: lohnt sich die Optimierung," arqus Discussion Papers in Quantitative Tax Research 32, arqus - Arbeitskreis Quantitative Steuerlehre.
    • Handle: RePEc:zbw:arqudp:32
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    References listed on IDEAS

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    1. James R. Hines, Jr. & R. Glenn Hubbard, 1990. "Coming Home to America: Dividend Repatriations by US Multinationals," NBER Chapters, in: Taxation in the Global Economy, pages 161-208, National Bureau of Economic Research, Inc.
    2. Altshuler, Rosanne & Grubert, Harry, 2003. "Repatriation taxes, repatriation strategies and multinational financial policy," Journal of Public Economics, Elsevier, vol. 87(1), pages 73-107, January.
    3. Grubert, Harry & Mutti, John, 1991. "Taxes, Tariffs and Transfer Pricing in Multinational Corporate Decision Making," The Review of Economics and Statistics, MIT Press, vol. 73(2), pages 285-293, May.
    4. Feldstein, Martin & Hines, James R. & Hubbard, R. Glenn (ed.), 1995. "The Effects of Taxation on Multinational Corporations," National Bureau of Economic Research Books, University of Chicago Press, edition 1, number 9780226240954, December.
    5. Rosanne Altshuler, 1995. "Do Repatriation Taxes Matter? Evidence from the Tax Returns of U.S. Multinationals," NBER Chapters, in: The Effects of Taxation on Multinational Corporations, pages 253-276, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Auslandsinvestitionen; grenzüberschreitende Besteuerung; Optimierungsprobleme; Repatriierungspolitik; Steuerplanung; Tochterkapitalgesellschaft; Unsicherheit;
    All these keywords.

    JEL classification:

    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • M16 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - International Business Administration
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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