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Corporate income taxes around the world: a survey on forward-looking tax measures and two applications

Elias Steinmüller, Georg U. Thunecke and Georg Wamser
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Elias Steinmüller: University of Tübingen
Georg U. Thunecke: University of Tübingen

International Tax and Public Finance, 2019, vol. 26, issue 2, No 7, 418-456

Abstract: Abstract This study provides a survey on corporate taxes around the world. Our analysis has three main objectives. First, we collect tax data and calculate (forward-looking) effective tax measures for a large sample of countries and recent years. We particularly describe how these measures vary over time and across countries. Second, we augment the country-level information with firm- and industry-level data (providing weights for financial structure and asset composition) to contrast statutory measures at the level of countries with measures accounting for firm- and industry-specific weights. Third, we utilize our new data to (i) estimate Laffer-Curves, i.e., the relationship between statutory tax rate and tax revenue, based on nonparametric as well as parametric specifications; (ii) examine how taxes affect investment in fixed assets at the level of firms. As for the latter, our preferred specification, in which we use a firm-specific effective marginal tax rate to capture tax incentives, suggests an elasticity of $$-\,0.33$$ - 0.33 .

Keywords: Corporate taxes; Depreciation allowances; Effective marginal (average) tax rates; Laffer-Curve; Investment responses (search for similar items in EconPapers)
JEL-codes: H25 H21 F23 F61 (search for similar items in EconPapers)
Date: 2019
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Working Paper: Corporate Income Taxes Around the World - A Survey on Forward-looking Tax Measures and Two Applications (2018) Downloads
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DOI: 10.1007/s10797-018-9511-6

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