Fundamentals of International Tax Planning

Ulrich Schreiber
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Ulrich Schreiber: University of Mannheim

Chapter 2 in International Company Taxation, 2013, pp 27-50 from Springer

Abstract: Abstract If investments have already been decided upon, ex-post tax planning may reduce the tax payments and may increase the investments net cash flows. It is worth engaging in ex-post tax planning if the additional net cash flow exceeds the additional costs, e. g. costs of evaluating alternative tax designs, costs of tax consultancy and costs of legal advice. By contrast to ex-post tax planning, ex-ante tax planning may impact on investment and financing decisions, thereby increasing a company’s after-tax cash flow. Cash flow is an important determinant of investment decisions. If external financing in terms of debt financing and equity financing is restricted, the cash flow generated by the company is the main source of finance (self-financing).

Keywords: Cash Flow; Source Country; Debt Financing; Market Interest Rate; Real Investment (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1007/978-3-642-36306-1_2

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