Incidence and efficiency of capital taxes in open economies. - Distinguishing taxes on saving from taxes on investment.
- What are the effects of source-based taxation of investment income in open economies? How open must the economy be in order to apply the analysis of small open economies?
- Residence v. source basis for taxing business and personal income.
- Who bears the burden of source-based and residence-based taxation in open economies?
- Effects of taxation on the magnitude and location of foreign direct investment.
- Effects of taxation on various forms of tax avoidance. Effectiveness of anti-avoidance rules.
- Effects of taxation on factor prices.
- Are FDI and tax avoidance likely to become even more responsive to tax differences in the future?
Tax reform proposals in open economies - Which reform proposals fare best in open economy environments? Consumption v. income taxation. How much of a concern is revenue erosion through avoidance?
- What are the effects of tax asymmetries in open economies? For example:
- Favorable treatment of startup firms.
- Treatment of tax losses.
- Subsidies for R&D.
- Transaction-based taxes such as capital gains taxes and stamp duties.
- What aspects of the post-1977 evolution of UK taxes are attributable to international pressures?
- Statutory tax rates
- Abolition of the ACT
- Treatment of R&D
- Double tax relief
- What costs and tradeoffs are implicit in various international features of the tax system?
- The UK taxes on a worldwide basis, allowing foreign tax credits.
- Taxation largely on the basis of repatriation, with foreign tax credit limits.
- Restrictions on cross-crediting.
- Controlled foreign corporation regime.
- What are the costs are associated with this system? What would be the revenue implications of major reform?
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