Symmetric Tax Competition under Formula Apportionment
This paper compares property taxation to a corporate income tax based on formula apportionment in a model where identical countries compete to attract capital. We find that if countries can pair a residence-based capital tax with a property tax (source tax on capital) the tax equilibrium is efficient. In contrast, the use of a 2-factor FA scheme based on sales and capital combined with a residence-based capital tax leads to an inefficient outcome. Copyright 2003 Blackwell Publishing Inc..
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Volume (Year): 5 (2003)
Issue (Month): 2 (04)
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