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Topic: Tax competition

Ads by Google Related Topics income tax poll tax sales tax value added tax tax evasion property taxes inheritance tax Progressive Taxes flat tax      Subnational Tax Competition When governments can impose taxes that are, in effect, borne to some extent by other governments or nonresidents, the economic cost of taxation is lower than it should be, and the result is likely to be excessive government spending. If all sub-national taxes were levied on a strictly benefit basis, for example, so that the taxes imposed on residents paid for the benefits they received from public services and any taxes exported to non-residents were similarly offset by cost-reducing benefits to such non-residents, both horizontal and vertical spillovers would be minimized. The first, and most obvious form of sales tax competition, for example, is the problem of "cross-border shopping." US studies have found that a one percent differential in sales taxes results in a shift of from one to six percent of purchases from the higher-taxed to the lower-taxed area (Due and Mikesell, 1994). http://www1.worldbank.org/publicsector/tax/taxcompetition.htm      1999 June 9 - A Business View on Tax Competition Low tax rates tends to impose a discipline on the countries levying such taxes to make more efficient use of tax revenues in their spending decisions. Additionally, the residents of the low tax and no tax countries usually incur other types of imposts, e.g., customs duties, which can be substantially higher than the norm, in order to finance the operations of their government, or they do without some government services. Under the rationale of the exemption countries, the source country has such primary right to tax the income generated within its borders, and, provided that the source country is not a no tax country, such income is considered to be “subject to tax” in that country. http://www.uscib.org/index.asp?documentID=1363      International Tax Competition Its tax valuers focused their attention on the most immobile part of that, the land, such that at one point, 1920, land value comprised 70% of the "real estate" tax base. It is either inside or outside the taxing jurisdiction, regardless of who owns it, or where he or she resides, or what other assets he or she may own, or other income he or she may receive, here or elsewhere. What New Hampshire has is the least repellent tax structure in the nation: it does not tax income, while 2/3 of all its state and local revenues come from the property tax. http://www.progress.org/archive/gaffne10.htm      No Country Wins in Harmful Tax Competition Such tax regimes tend to target corporations in the banking, financing, insurance and leasing sectors as these services are geographically mobile and thus sensitive to tax differentials. The flip side of this test is that tax measures forming part of the standard tax system may not be considered as constituting harmful tax competition. Another effect of harmful tax practices is that to attract foreign investment dollars, tax policies tend to be dictated by taxpayers rather than by the goal of imposing a reasonable part of the cost of public expenditure on each and every production factor. http://www.pwcglobal.com/extweb/ncinthenews.nsf/docid/D85BBCE272CE73F28525688E00214E8F      Tax Competition in the European Union This relatively high effective (marginal) tax rate on the corporation level does, because of the imputation of the corporate income taxes in the individual income tax, not affect the effective (marginal) tax rate on the level of the corporation and the shareholder to the same extent. According to the report effective marginal tax rates in the EU vary between 13.74% (Greece) and 40.71% (France) on the level of the corporation while the average effective marginal tax rate in the EU is 24.30%. When tax incentives (only investment incentives on a corporation level) of the member states of the EU are taken into account the EU average effective marginal tax rate drops according to the investigators to 15.96%, compared to 24.30% without incentives. http://www.minfin.nl/?CMS_NOCOOKIES=YES&CMS_ITEM=MFCR371331521708211D5BFFF00104B3FBE32      Georgetown Law Journal: Competition and evasion: Another perspective on international tax competition A substantial literature exists extolling the benefits of a global regime under which all countries would be forced to conform their tax bases to a uniform model while maintaining tax rates within a narrow, prespecified range.25 The more complete the harmonization required, of course, the less room would exist for tax competition. Several of the most prominent reform proposals advocate movement toward the goal of tax coordination or tax harmonization, typically at the level of the corporate income tax4 in an attempt to prevent "destructive tax competition." This Article argues against this approach for two reasons. Before these steps toward tax harmonization move beyond the preliminary state, it is worth revisiting the question of the desirability of tax competition in general. http://www.findarticles.com/p/articles/mi_qa3805/is_200103/ai_n8936565      Discovery Institute - Article Database - Pinning Hopes on Tax Competition Their research showed that increasing tax competition is likely to improve voter welfare, because nonproductive government spending, including payments and benefits to politicians, decreases. As a result, even though tax competition might indeed reduce government taxation and spending, the evidence shows the reduction in destructive spending more than offsets any reduction in productive spending. The authors looked at the effects of tax competition on both parliamentary democracies (which is the common European form of government) and on the presidential-congressional systems (such as the U.S. has). http://www.discovery.org/scripts/viewDB/index.php?command=view&program=Misc&id=1314      International Tax Competition Other defensive responses to tax competition include proposals to harmonize taxes across countries and to restrict countries from offering tax climates that are too hospitable to foreign investment inflows. A more constructive response to tax competition would be to learn from foreign reforms and adopt pro-growth tax policies at home. International "tax competition" is increasing as capital and labor mobility rises. http://www.cse.org/informed/issues_template.php?issue_id=1328      The Tax Foundation - Tax Foundation's "Tax Policy Blog" Increases in tax revenues are decreasing projected budget deficits. Today, the Tax Foundation released a new "Fiscal Fact " exploring the shift in tax burden from individual to corporate taxpayers in the Tax Reform Act of 1986 (TRA-86). The Tax Policy Blog is the official weblog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. http://www.taxfoundation.org/blog      EUROPA - Taxation and Customs Union / Harmful tax competition In the tax field, the Commission suggests more transparency and information exchange in the company tax area so that tax systems are better able to deal with complex corporate structures. The code covers tax measures (legislative, regulatory and administrative) which have, or may have, a significant impact on the location of business in the Union. The tax systems in Member States also have to be in line with Community State aid rules. http://europa.eu.int/comm/taxation_customs/taxation/company_tax/harmful_tax_practices/index_en.htm      Is tax competition bad? by Katinka Barysch The 'tax base', the item or activity that the tax is levied on, is equally important. There are various ways in which tax authorities treat say, a company's debt or the depreciation of its machinery for taxation purposes. Nor is it true that the EU is financing East European tax cuts through its common budget. http://www.cer.org.uk/articles/37_barysch.html      NodeWorks - Encyclopedia: TA: TAX A tax is an involuntary fee paid by individuals or businesses to a state, or to functional equivalents of a state, including tribes, secessionist movements or revolutionary movements. Taxes may be paid in cash or in... Tax Equity & Fiscal Responsibility Act of 1982 http://pedia.nodeworks.com/T/TA/TAX      Center for Freedom and Prosperity's Coalition for Tax Competition In a letter sent to the Chairman today, the members of the Coalition for Tax Competition also urged Chairman Thomas to reconsider two of the major provisions in his bill (H.R. 5095) to simplify international taxes -- the punitive inversion moratorium and the tax increase on foreign-based companies that invest in the U.S. economy. We believe the tax harmonization and global taxation plans of the OECD and UN are bad tax policy — and we also believe that American taxpayers should not subsidize their statist agendas. The Coalition for Tax Competition is bringing scores of policy experts to the cause of tax competition. http://www.freedomandprosperity.org/ctc/ctc.shtml      Foreign Investment Tax Competition Haufler and Wooton examine the results of competition, first, when countries can provide direct subsidies (or impose taxes) only on the operations of firms that invest within their national frontiers, and second, when countries are also permitted to use tariffs (or impose consumption taxes) on goods imported from a production plant in the rival nation. A greater differential in country size, and the ability to tax consumption of the foreign-produced good, will work to the advantage of the larger country, to the extent that it may even be able to tax rather than subsidize the foreign firm. In Discussion Paper No. 1583, Andreas Haufler and Ian Wooton examine this tax competition. http://www.cepr.org/pubs/bulletin/DPS/DP1583.htm      RodneyHide.com The trade-off for lowering income tax (to 33%) was to scrap all other wholesale taxes but accept a GST of 10%. Do these people not understand the concept behind the taxing of one dollar multiple times: When earned you lose income tax%, you spend and pay GST% and the person that gets that dollar pays income tax% and spends and pays GST% etc. Now we have GST at 12.5%, petrol tax, rates increases galore, personal tax top margin up to 39% on the top bracket. http://rodneyhide.com/Diary/index.php?p=1047      Tax Competition and Tax Harmonization With Evasion We examine a two-jurisdiction tax competition environment where local governments can only imperfectly monitor where agents pay taxes and risk-averse individuals may choose to cross borders to pay lower taxes in a neighboring location. Finally, we examine the incentives of jurisdictions to harmonize tax rates and find that, whenever the smaller community benefits from tax harmonization, the larger jurisdiction will benefit also. Néstor Gandelman and Rubén Hernández-Murillo (2004) "Tax Competition and Tax Harmonization With Evasion", Topics in Economic Analysis & Policy : Vol. http://www.bepress.com/bejeap/topics/vol4/iss1/art13      The Fruits of Tax Competition But while it is true that there is a cash-flow cost of financing promised benefits as payroll taxes are shifted to personal accounts, it is also true that personal accounts dramatically reduce long-term liabilities. In addition to the corporate tax cut to one of the lowest levels in the EU, the reforms also contained a number of measures designed to reduce the tax burden on multinational firms using Austria as a base for regional headquarters. The 2003 dividend tax cut is prompting US firms to pay out considerably more of their profits in the form of dividends, recent data has revealed. http://www.papillonsartpalace.com/fruitstof.htm      EconPapers: Tax Competition and Trade Protection In contrast to standard models of tax competition, both commodity trade and capital mobility is allowed to occur between the competing regions and the rest of the world. Abstract: This paper reconsiders the question of whether tax competition for mobile capital leads to tax rates on capital that are too low or too high from the combined viewpoint of the competing regions (or countries in an economic union). When the country's central government is free to set the tariff, tax competition leads to inefficiently low tax rates. http://econpapers.repec.org/paper/nbrnberwo/7402.htm      Harmful tax competition Furthermore, it emphasizes that the thrust against low or lower tax burdens or jurisdictions is inappropriate and that the outcry against tax competition is counterproductive. According to a summary of these discussions, it was recognized that this topic is very closely related to the issue of what has become known as "harmful tax competition" and especially to the Report issued in 1998 by the OECD on this subject. In response to the OECD's Report and the ongoing work within the Forum, BIAC (the Business and Industry Advisory Committee to the OECD) which represents the business interests of OECD member countries, has submitted a Note to the OECD entitled: "A Business View on Tax Competition". http://www.iccwbo.org/home/statements_rules/statements/2000/harmful_tax.asp      LMU-Publikationen der Universität München - Asymmetric Capital Tax Competition with Profit Shifting This paper analyses capital tax competition between jurisdictions of different size when multinational firms can shift some fraction of their tax base between them. Therefore, by the direct (impact) effect, tax rates will converge as a result of additional profit shifting opportunities. We find that profit shifting decreases the tax-base elasticity of the low tax jurisdiction while increasing the elasticity of the high tax jurisdiction. http://epub.ub.uni-muenchen.de/archive/00000454      TAX COMPETITION: AN OPPORTUNITY FOR ICELAND He has served as a Special Senior Tax Policy Advisor to the Canadian Department of Finance, as consultant to the Barbados Government on tax policy issues, as President of the Canadian Chapter of IFA and as Chairman to the Ernst and Young International Tax Committee. She is on the Task Force advising the U.S. Treasury on responses to the OECD initiatives on tax competition. He was the Director of the Icelandic Tax Investigation Force 1976-86 and of the Internal Revenue Directorate in 1986-95 and 1997-8, he is at present a partner in the law firm Taxis in Reykjavik. http://www.ioes.hi.is/events/conference_112001/conference_112001.html      SSRN-Is Tax Competition Harmful? by Robert McGee But they are losing business and investments to lower tax jurisdictions where governments let people and businesses keep a higher percentage of their income. Keywords: Tax competition, tax harmonization, tax evasion, tax avoidance This paper examines this issue and attempts to answer the question of whether tax competition is harmful. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=617444      TAX COMPETITION IN THE EUROPEAN UNION Taxes on Labour, on Savings and on Corporations is a detailed study of current systems of Direct Taxation within the European Union, and of recent policies in the field. Taxes on personal income as a % of GDP and as a % of total taxation The coordination of taxes on labour within the EU Decisions adopted in Personal Income Tax area http://www.europarl.eu.int/workingpapers/econ/105/default_en.htm      A Concise Encyclopedia of the European Union --T-- Proposals concerning direct taxes require unanimity and are therefore subject to the national veto. A more significant bar to harmonisation was the multiplicity of national regimes and the fact that taxes as a percentage of GDP varied from around 35% in the UK, Ireland and Spain to over 50% in Sweden and Greece, while top corporate rates ranged from 57% in Germany to 31% in the UK. Proponents of free markets argued that harmonisation would lead to a job-destroying upward drift in taxes, whereas tax competition would lead to reduced taxes and more resilient economies. http://www.euro-know.org/dictionary/t.html      Promoting Tax Competition Richard M. Hammer, Chairman of the Committee on Taxation and Fiscal Policy, Business and Industry Advisory Committee (BIAC) to the OECD and Mr. *On 2 April 2001, the Fiscal Affairs Division became the Centre for Tax Policy and Administration. This handbook is a guide for anyone directly or indirectly involved in the Committee on Fiscal Affairs' partnership programme with Non-OECD Economies and sets out practical information about its operation. http://www.oecd.org/LongAbstract/0,2546,en_2649_34897_1915957_119693_1_1_1,00.html      EH.R: Tax competition It's argument that putting taxation in the hands of Parliament instead of the King greatly increased the state's ability to borrow (because Parliament was less likely to default on obligations to its members and constituents) has much ideology in it. There are separate books on state credit/borrowing, and taxation, for various countries and various periods, but I'm not aware of much on fiscally-induced migration (although high British taxes after 1945 sent many celebrities to seek non-Brit tax homes). (I am > only aware of the discussion between Mathias/O'Brien and > McCloskey in the JEEH 1976/78.) > > (2) Is there empirical work on fiscal competition or tax > competition? http://www.eh.net/pipermail/eh.res/2001-June/000932.html      Maritime lawyers' forum on tax, registry competition On the American scene, Mitchell pointed out that a portion of US corporate tax law will have to be rewritten because a World Trade Organization tribunal held it illegal, and he expects that this will be an opportunity to pass legislation more in keeping with the CFP’s philosophy. He was especially scornful of the more recent argument that OECD tax information sharing is necessary to stop the financing of international terrorism: “The last time I checked, terrorists don’t pay taxes.”; Noting that the countries with the highest standards of living are all tax havens, Mitchell argued that “if we want economic growth, if we want international security, we need a free market system.” http://www.thepanamanews.com/pn/v_09/issue_14/business_01.html      EconPapers: Agglomeration and Tax Competition We show that a tax differential may arise as an equilibrium of the tax game even when there is only partial agglomeration and the mobile factor does not derive an agglomeration rent. Abstract: Tax competition for a mobile factor is different in 'new economic geography settings' compared to standard tax competition models. Moreover, a tax differential between the core and the periphery can be maintained. http://econpapers.repec.org/paper/izaizadps/dp1033.htm      Will Foreign Governments Deny U.S. Tax Cuts? The new OECD report, "Towards Global Tax Co-operation," calls on member nations to pressure low-tax nations and territories to dismantle their "harmful tax regimes" and repeal their privacy laws. The OECD, with encouragement from the Clinton administration, is using the concern with money laundering as a foot in the door to dictate worldwide tax policy, according to these economists. Your congressman will be no more than a figurehead, with his hands tied on tax policy. http://www.newsmax.com/articles?a=2000/10/3/213445      FRBB: Meet the Economists- Robert Tannenwald His research includes topics such as devolution, unemployment insurance, the business tax climate, and the impacts of state and local tax policies. “Tax Competition,”; in Encyclopedia of Taxation and Fiscal Policy. “ The Subsidy from State and Local Tax Deductibility: Trends, Methodological Issues, and Its Value After Federal Tax Reform.” FRB Boston Series, paper no. 97-8 (1997). http://www.bos.frb.org/economic/econbios/tannenwa.htm      Center for Freedom and Prosperity's Articles February 15, 2004, So-called tax havens are not responsible for Enron and Parmalat scandals. Allen and Inhofe and Reps. Cox, Istook and Manzullo Praise Tax Competition and Warn Berlin Tax Competition Conference Attendees to be Wary of European Tax Harmonization Schemes February 9, 2004, The OECD and EU get most of the attention, but they are not the only international bureaucracies seeking to hinder tax competition. http://www.freedomandprosperity.org/Articles/articles.shtml      Harmful Tax Competition The O.E.C.D., the E.U. and the U.S. seem to be engaged in a vendatta against the small island tax havens who provide financial privacy and low or zero taxes on trusts and corporations owned by non-resident aliens. http://www.rpifs.com/taxhavens.htm      Tax competition [offshore-fox.com] Confusing legal tax planning and illegal tax evasion has become a popular tactic. Madeira Free Trade Zone Company: Tax free or low tax if revenues arise outside of Madeira. Learn about the real agenda behind OECD's blacklists of offshore tax havens. http://www.offshore-fox.com/searchcache/tax_competition.html      Taxcompetition - encyclopedia article about Taxcompetition. Taxe à la Valeur Ajoutée (French: Value Added Tax) Taxe à la Valeur Ajouté (French: Value Added Tax) Taxe Locale d'Équipement (French: special local construction tax) http://encyclopedia.thefreedictionary.com/Taxcompetition      The Encyclopedia of Taxation and Tax Policy Tax administration: private and public cooperation in state tax administration and promoting best practices The Encyclopedia of Taxation and Tax Policy, edited by Joseph J. Cordes, Robert D. Ebel, and Jane G. Gravelle, is available from the Urban Institute Press (ISBN 0-87766-682-2, $75.00). http://www.urban.org/pubs/taxation/contents.html      April Franco -- University of Iowa Income tax, Corporate, State and Local,” (with Robert Strauss), in Encyclopedia of Taxation and Tax Policy, Joseph J. Cordes, Robert D. Ebel, and Jane G. Gravelle, Eds. Spin-outs: Knowledge Diffusion through Employee Mobility,” (with Darren Filson), revised and resubmitted to the Rand Journal of Economics http://www.biz.uiowa.edu/faculty/afranco      Open Directory - Society: Politics: Globalization Research concentrates on questions such as social policy issues, international financial crises, multijurisdictional tax competition, development of global and regional governance and other civil society activities regarding the topics. Centre for the Study of Globalisation and Regionalisation - From the University of Warwick, UK. Challenges of the Global Century - A report of the project on Globalization and National Security that displays the key features of the topic, as well as its challenges, impacts, and implications for the US policies. http://dmoz.org/Society/Politics/Globalization      E-bookshop.ro >> Acasa Among the other aspects examined are the growth effects of tax competition, the political economy of employment protection, the equilibrium in a dynamic multi-sector economy and the dependence of growth on relative wages, employment and the firm size. In its pages, noteworthy designers, both past and present, working in fields ranging from graphic design, fashion, architecture, typography, illustration, and industry product design, sound off on every topic, including deadlines, inspiration, competition, rules, respect, education, and handling criticism and life as a creative soul-all with a certain amount of irreverence. Their thoughts are boiled down into succinct quotable quotes and one-liners that exemplify their character and demonstrate their philosophy on the world. http://www.ebookshop.ro      IUMI - HEC Lausanne Brülhart M. (2004), Conference "Tax Competition in the EU25", Prague (CERGE-EI), December. - ERP a Savior or Slayer of Enterprise Competitiveness, Working Paper IUMI 0305 (Wendy Peñaloza) Competitiveness in the XXI Century : Social Dimension and Corporate Success, International Labour Organization, Genève, 2001 (G. Cestre) http://www.hec.unil.ch/iumi/recherche/publications.htm      Tax Competition - Broadening the Debate How does the OECD initiative on harmful tax competition stand against economic criteria and the needs of smaller and developing countries? Select here to Request Further Information about this item Economist Gabriel Stein and Forum President Graham Mather look at the evidence in this study. http://www.epfltd.org/itm00035.htm      Energy Citations Database (ECD) - Energy and Energy-Related Bibliographic Citations Energy Citations Database (ECD) Document #6603470 - Tax competition over natural resource revenues Availability information may be found in the Availability, Publisher, Research Organization, Resource Relation and/or Author (affiliation information) fields and/or via the "Full-text Availability" link. For a journal article, please see the Resource Relation field. http://www.osti.gov/energycitations/product.biblio.jsp?osti_id=6603470      oai:eiop.or.at:mpifgx/P0046 Multilateral cooperation to stop tax competition may fail because states face incentives to renege on their promises or because they face adverse distributional consequences, either of which makes cooperation an unattractive option for them. Combining theoretical analysis with empirical research on the European Union's unsuccessful record of tax cooperation, we show how distributive, "within-group" conflict amongst potential cooperators interacts with the constraints imposed by a non-cooperating "outside world" to make multilateral tax cooperation an especially elusive goal for international collaboration. Abstract Tax competition poses two problems for international cooperation: defection and distributive conflict. http://eiop.or.at/erpa/OAI/mpifgx/MPIfG-P0046.html      LMU-Publikationen der Universität München - Wissenschaftliche Reihen: Volkswirtschaft Rule Changes and Competitive Balance in Formula One Motor Racing http://epub.ub.uni-muenchen.de/view/subjects/05.html      [No title] > stream q 0 0 596 842 re W n 0.0000 g BT /NewFont:0 10.000000 Tf 0 Tr 1.0000 0.0000 0.0000 1.0000 24.0000 811.3800 Tm 0.0000 Tw 0.0000 Tc (Alfano et al.: Tax competition in EU scenario: an empirical application) Tj ET Q endstream endobj 17 0 obj > stream q 0 0 596 842 re W n 0.0000 g BT /NewFont:0 10.000000 Tf 0 Tr 1.0000 0.0000 0.0000 1.0000 24.0000 811.3800 Tm 0.0000 Tw 0.0000 Tc (Alfano et al.: Tax competition in EU scenario: an empirical application) Tj ET Q endstream endobj 47 0 obj > stream q 0 0 596 842 re W n 0.0000 g BT /NewFont:0 10.000000 Tf 0 Tr 1.0000 0.0000 0.0000 1.0000 24.0000 811.3800 Tm 0.0000 Tw 0.0000 Tc (Alfano et al.: Tax competition in EU scenario: an empirical application) Tj ET Q endstream endobj 31 0 obj http://www.bepress.com/cgi/viewpdf.cgi?article=1013&context=gwp&preview_mode=

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