Generalised R-based and S-based taxes under uncertainty
UNSPECIFIED. (2003) Generalised R-based and S-based taxes under uncertainty. JOURNAL OF PUBLIC ECONOMICS, 87 (5-6). pp. 1291-1311. ISSN 0047-2727Full text not available from this repository.
This paper considers the relationship between two general neutral business tax structures, which we label the 'firm tax' and the 'shareholder tax'. The well-known R-based and S-based cash flow taxes, analysed by Meade (1978), are special cases of these two taxes. We demonstrate the neutrality of both taxes in the presence of uncertainty, and characterise the tax rules required in the event of default and wind-up. Our analysis provides the first proof of the neutrality of the S-based cash flow tax and the Allowance for Corporate Equity (ACE) corporation tax under uncertainty. We also discuss implementation and tax avoidance issues. (C) 2001 Elsevier Science B.V. All rights reserved.
|Item Type:||Journal Article|
|Subjects:||H Social Sciences > HC Economic History and Conditions|
|Journal or Publication Title:||JOURNAL OF PUBLIC ECONOMICS|
|Publisher:||ELSEVIER SCIENCE SA|
|Number of Pages:||21|
|Page Range:||pp. 1291-1311|
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