International tax and public finance, 2013-10, Vol.20 (5), p.808-826
2013
Volltextzugriff (PDF)
Details
- Autor(en) / Beteiligte
- Titel
- Profit taxes and financing constraints
- Ist Teil von
- International tax and public finance, 2013-10, Vol.20 (5), p.808-826
- Ort / Verlag
- Boston: Springer US
- Erscheinungsjahr
- 2013
- Quelle
- Alma/SFX Local Collection
- Beschreibungen/Notizen
- Without financing frictions, profit taxes reduce investment by their effect on the user cost of capital. With financing constraints, investment becomes sensitive to cash-flow. In this situation, even small taxes impose first order welfare losses, and ACE and cash-flow tax systems are no longer neutral. When banks become active and provide monitoring services in addition to finance, an ACE tax yields larger investment and welfare than an equal yield cash-flow tax.
- Sprache
- Englisch
- Identifikatoren
- ISSN: 0927-5940eISSN: 1573-6970DOI: 10.1007/s10797-012-9247-7Titel-ID: cdi_proquest_miscellaneous_1463030048
- Format
- –
- Schlagworte
- Banks, Business Taxation/Tax Law, Capital costs, Capital markets, Cash flow, Corporate income tax, Economics, Economics and Finance, Financing, Investment, Monitoring, Moral hazard, Profit, Profitability, Public Finance, Relationship banking, Studies, Tax rates, Tax reform, Tax systems, Taxation, Venture capital