Corporate Tax Convergence in Asian and Pacific Economies

Yang Chen, Juan Cuestas and Paulo Regis

No 17, TUT Economic Research Series from Department of Finance and Economics, Tallinn University of Technology

Abstract: Countries in the Asia and Pacific region have shown many macroeconomic similarities such as current account surpluses, exchange rate appreciation, export-oriented economies, growth success, etc. This paper argues that there may be one more macroeconomic feature to add to the list: strong tax convergence. Using data on the statutory corporate tax rate in 15 countries from 1980 to 2014, we identify (i) a significant dynamic tax convergence pattern, and (ii) three tax convergence clubs. The latter consist of the small tax haven economies of Hong Kong and Singapore, the East Asian countries (plus one), and the South and Southeast Asian and Oceania countries. These economies, within groups, have been reducing the tax gaps with their neighbours over time.

Date: 2014-09-16
New Economics Papers: this item is included in nep-pbe, nep-pub and nep-sea
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Working Paper: Corporate Tax Convergence in Asian and Pacific Economies (2015)
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