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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

No 7050, CESifo Working Paper Series from CESifo Group Munich

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 non-parametric 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.

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)
New Economics Papers: this item is included in nep-acc, nep-eec, nep-pbe and nep-pub
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_7050

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