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Winners And Losers Of Tax Competition In The European Union

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Winners And Losers Of Tax Competition In The European Union

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Author : Enrique G. Mendoza
language : en
Publisher:
Release Date : 2003

Winners And Losers Of Tax Competition In The European Union written by Enrique G. Mendoza and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Capital levy categories.

"This paper quantifies the macroeconomic effects of capital income tax competition in the European Union using a two-country neoclassical dynamic general equilibrium model. This model incorporates three key externalities of tax competition: the relative price externality, the wealth distribution externality and the fiscal solvency externality. We consider tax strategies limited to the class of time-invariant taxes and allow governments to issue debt to smooth the tax burden. The analysis starts from a pre-tax-competition equilibrium calibrated to represent the United Kingdom and Continental Europe (France, Germany and Italy) using data from the early 1980s, just before the European integration of financial markets. When labor taxes adjust to maintain fiscal solvency, competition does not trigger a race to the bottom' in capital taxes. The UK makes a large welfare gain and cuts its capital tax. Continental Europe increases both labor and capital taxes and suffers a large welfare loss. These results are consistent with evidence showing that over the last two decades the UK lowered its capital tax, while Continental Europe increased both capital and labor taxes. When consumption taxes adjust to maintain fiscal solvency, there is a race to the bottom' in capital taxes but both the UK and Continental Europe are better off than in the pre-tax-competition equilibrium. The gains from coordination in all of these experiments are trivial"--NBER website

Tax Competition In The European Union

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Author : Vivek Harsha Dehejia
language : en
Publisher:
Release Date : 1998

Tax Competition In The European Union written by Vivek Harsha Dehejia and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with categories.

The Benefits Of Tax Competition

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Author : Richard Teather
language : en
Publisher:
Release Date : 2005

The Benefits Of Tax Competition written by Richard Teather and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Competition categories.

Beginning with a primer on international taxation, this IEA monograph shows why the arguments used by governments to prevent tax competition are fallacious. It also outlines the threats to tax competition from the EU and OECD, and proposes ways in which the UK government should respond to those threats.