IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

Incentivi agli investimenti e tassazione dei profitti: l'impatto delle recenti riforme fiscali sul "cash flow" delle società di capitali

  • Bontempi Maria Elena
  • Giannini Silvia
  • Guerra Maria Cecilia
  • Tiraferri Angela

In 2001, the newly elected government announced a wide reform of corporate taxation: the Dual income tax system enacted in 1997 by the previous government was greatly limited in its beneficial effects and should be abolished in favour of a single tax rate regime. In the meantime, the existing system of temporary incentives to investment was prolonged, but radically changed. A major difference is that the new incentive is not conditional upon the financing behaviour of companies. Under the new policy course the neutrality of the tax system between debt and equity finance does not seem to be considered an important issue. The emphasis is on the reduction of the overall tax burden on profits. This paper uses the micromodel of corporate taxation MATIS, and data from the balance sheets of a panel of manufacturing companies, to evaluate the possible impact of these recent tax reforms on firms' cash flow. The results show that the new tax policy is not so clearly superior to the one followed by the previous government in reducing the overall tax burden on companies, and will even be worse, in perspective, when comparing the Dual income tax system with the announced uniform tax rate of 33%.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.rivisteweb.it/download/article/10.1429/1576
Download Restriction: no

File URL: http://www.rivisteweb.it/doi/10.1429/1576
Download Restriction: no

Article provided by Società editrice il Mulino in its journal Politica economica - Journal of Economic Policy (PEJEP).

Volume (Year): (2001)
Issue (Month): 3 ()
Pages: 249-284

as
in new window

Handle: RePEc:mul:je8794:doi:10.1429/1576:y:2001:i:3:p:249-284
Contact details of provider:

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:mul:je8794:doi:10.1429/1576:y:2001:i:3:p:249-284. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.