The Effectiveness Of Tax Incentives As Economic Development Tools
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The Effectiveness Of Tax Incentives As Economic Development Tools
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Author : Maggie Babin
language : en
Publisher:
Release Date : 1996
The Effectiveness Of Tax Incentives As Economic Development Tools written by Maggie Babin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Enterprise zones categories.
Tax Incentives And Economic Growth
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Author : Barry Bosworth
language : en
Publisher: Brookings Institution Press
Release Date : 1984
Tax Incentives And Economic Growth written by Barry Bosworth and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Business & Economics categories.
In this study the author attempts to clarify the basic analytic issues about incentives and to summarize the empirical evidence, and examines the difficulties of coordinating tax incentive measures with fiscal and monetary policies.
Rethinking Property Tax Incentives For Business
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Author : Daphne A. Kenyon
language : en
Publisher:
Release Date : 2012
Rethinking Property Tax Incentives For Business written by Daphne A. Kenyon and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Electronic books categories.
The use of property tax incentives for business by local governments throughout the United States has escalated over the last 50 years. While there is little evidence that these tax incentives are an effective instrument to promote economic development, they cost state and local governments $5 to $10 billion each year in forgone revenue. Three major obstacles can impede the success of property tax incentives as an economic development tool. First, incentives are unlikely to have a significant impact on a firm's profitability since property taxes are a small part of the total costs for most businesses--averaging much less than 1 percent of total costs for the U.S. manufacturing sector. Second, tax breaks are sometimes given to businesses that would have chosen the same location even without the incentives. When this happens, property tax incentives merely deplete the tax base without promoting economic development. Third, widespread use of incentives within a metropolitan area reduces their effectiveness, because when firms can obtain similar tax breaks in most jurisdictions, incentives are less likely to affect business location decisions. This report reviews five types of property tax incentives and examines their characteristics, costs, and effectiveness: property tax abatement programs; tax increment finance; enterprise zones; firm-specific property tax incentives; and property tax exemptions in connection with issuance of industrial development bonds. Alternatives to tax incentives should be considered by policy makers, such as customized job training, labor market intermediaries, and business support services. State and local governments also can pursue a policy of broad-based taxes with low tax rates or adopt split-rate property taxation with lower taxes on buildings than land.State policy makers are in a good position to increase the effectiveness of property tax incentives since they control how local governments use them. For example, states can restrict the use of incentives to certain geographic areas or certain types of facilities; publish information on the use of property tax incentives; conduct studies on their effectiveness; and reduce destructive local tax competition by not reimbursing local governments for revenue they forgo when they award property tax incentives.Local government officials can make wiser use of property tax incentives for business and avoid such incentives when their costs exceed their benefits. Localities should set clear criteria for the types of projects eligible for incentives; limit tax breaks to mobile facilities that export goods or services out of the region; involve tax administrators and other stakeholders in decisions to grant incentives; cooperate on economic development with other jurisdictions in the area; and be clear from the outset that not all businesses that ask for an incentive will receive one.Despite a generally poor record in promoting economic development, property tax incentives continue to be used. The goal is laudable: attracting new businesses to a jurisdiction can increase income or employment, expand the tax base, and revitalize distressed urban areas. In a best case scenario, attracting a large facility can increase worker productivity and draw related firms to the area, creating a positive feedback loop. This report offers recommendations to improve the odds of achieving these economic development goals.
The Impact Of Tax Incentives On Job Creation And Capital Investment
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Author : Beverly Tete Goll Yekeson
language : en
Publisher:
Release Date : 2004
The Impact Of Tax Incentives On Job Creation And Capital Investment written by Beverly Tete Goll Yekeson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Enterprise zones categories.
Tax Incentives In The Beps Era
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Author : Madalina Cotrut
language : en
Publisher:
Release Date : 2018
Tax Incentives In The Beps Era written by Madalina Cotrut and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Recent tax developments aimed at mitigating the possibilities of base erosion and profit shifting are expected to increase the importance and popularity of tax incentives. This is due to the fact that states will want to remain competitive on the international stage and multinational enterprises will look for other opportunities to minimize their tax liabilities.0This book seeks to answer the following essential questions, from both a practical and an academic perspective:0- Will tax incentives be the 21st century tool for tax planning structures?0- Will states need to introduce more tax incentives in the future in order to be more competitive?0- What are the effects of the anti-abuse measures adopted by the EU Member States and recommended by the OECD on tax incentives?0- What are the challenges of securing the use of tax incentives?0- What new tax policy challenges will tax incentives bring about? 00This book answers these questions by analysing selected tax incentives that are commonly promoted by both developed and developing states, particularly those tax incentives that are of relevance to corporate income taxation.
State Business Incentives And Economic Growth
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Author : Roger Wilson
language : en
Publisher:
Release Date : 1989
State Business Incentives And Economic Growth written by Roger Wilson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Business & Economics categories.
More Than Revenue
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Author : Inter-American Development Bank
language : en
Publisher: Springer
Release Date : 2013-03-18
More Than Revenue written by Inter-American Development Bank and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-18 with Business & Economics categories.
This exciting new volume provides an up-to-date overview of the current state of taxation in the Latin America and Caribbean (LAC) region, its main reform needs, and possible reform strategies that take into account the likely economic, institutional, and political constraints on the reform process.
Rethinking Investment Incentives
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Author : Ana Teresa Tavares-Lehmann
language : en
Publisher: Columbia University Press
Release Date : 2016-07-12
Rethinking Investment Incentives written by Ana Teresa Tavares-Lehmann and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-12 with Business & Economics categories.
Governments often use direct subsidies or tax credits to encourage investment and promote economic growth and other development objectives. Properly designed and implemented, these incentives can advance a wide range of policy objectives (increasing employment, promoting sustainability, and reducing inequality). Yet since design and implementation are complicated, incentives have been associated with rent-seeking and wasteful public spending. This collection illustrates the different types and uses of these initiatives worldwide and examines the institutional steps that extend their value. By combining economic analysis with development impacts, regulatory issues, and policy options, these essays show not only how to increase the mobility of capital so that cities, states, nations, and regions can better attract, direct, and retain investments but also how to craft policy and compromise to ensure incentives endure.
Taxation And Economic Development
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Author : J. F. J. Toye
language : en
Publisher: Psychology Press
Release Date : 1978
Taxation And Economic Development written by J. F. J. Toye and has been published by Psychology Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with Business & Economics categories.
First published in 1978
Tax Incentives For Private Industrial Investment In Less Developed Countries
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Author : World Bank
language : en
Publisher:
Release Date : 1962
Tax Incentives For Private Industrial Investment In Less Developed Countries written by World Bank and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1962 with Developing countries categories.