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The Impact of Tax Substitution on the price of pharmaceutical products in the state of São Paulo

  • André Luis Squarize Chagas

    ()

The mechanism of the Tax Subsitituion has been widely adopted by the Brazilian states in order to simplify tax colletion and combat evasion. Since mid-2007 the São Paulo State Treasury Office began adopting the tax substitution as means of receiving the ICMS due by the pharmaceutical sector. This work seeks to test the effects of the change in the form of taxation on consumer prices. For this, three alternative approaches are used to test the existence of structural break in the series of prices of pharmaceuticals in the state, and the relationship of co-integration of this series with the other states. The results suggest that, after the replacement tax, there was an increase of consumer prices.

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File URL: http://www.fea.usp.br/feaecon/RePEc/documentos/AndreChagas19WP.pdf
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Paper provided by University of São Paulo (FEA-USP) in its series Working Papers, Department of Economics with number 2013_19.

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Date of creation: 26 Nov 2013
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Handle: RePEc:spa:wpaper:2013wpecon19
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  8. Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
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