Corporate Tax in Italy: An Analysis of the 1998 Reform

Massimo Bordignon (), Silvia Giannini and Paolo Panteghini

FinanzArchiv: Public Finance Analysis, 1999, vol. 56, issue 3/4, 335-

Abstract: The increasing political concern about fiscal competition across European countries induced Italy to implement a wide-ranging reform of capital income and business taxation. We describe the reform, briefly discuss its links with other relevant international experiences and reform proposals, and assess its chances of reaching its declared targets by means of a theoretical model and numerical simulations. Our results suggest that the reform has been successful in closing the gap between the tax treatment of different assets and different sources of finance. However, the overall effects on the cost of capital are ambiguous, as they depend on the financial choices available to companies.

Date: 1999
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