No Business Taxation Without Model Representation: Adding Corporate Income and Cash Flow Taxes to GIMF

Benjamin Carton, Emilio Fernández Corugedo and Benjamin Hunt

No 2017/259, IMF Working Papers from International Monetary Fund

Abstract: The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking, DSGE model developed at the International Monetary Fund for policy analysis and international economic research. This paper documents the incorporation of corporate income, cash-flow and destination based cash-flow taxes into the model. The analysis presented considers the transmission mechanism of these taxes and details how financial frictions interact with each of the taxes.

Keywords: WP; tax; Destination-Based Cash Flow Tax; cost of capital; proceeds; tax policy; business taxation; financial accelerator; corporate leverage; dynamic stochastic general equilibrium models; macroeconomic interdependence; cash flow; shadow price; transmission mechanism; tax result; return to capital; tax instrument; tax deductibility; tax liability; transfer payments; cash flow types tax; DBCFT relative; types tax; Corporate income tax; Value-added tax; Cash-flow tax; Corporate taxes; Anti-money laundering and combating the financing of terrorism (AML/CFT); Global (search for similar items in EconPapers)
Pages: 61
Date: 2017-11-17
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=45378 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2017/259

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().