NDLI: A growth oriented dual income tax

Content Provider	Springer Nature Link
Author	Keuschnigg, Christian Dietz, Martin D.
Copyright Year	2006
Abstract	This paper proposes a growth oriented dual income tax by combining an allowance for corporate equity with a broadly defined flat tax on personal capital income. Revenue losses are compensated by an increase in the value added tax. The paper demonstrates the neutrality properties of the reform with respect to investment, firm financial decisions and organizational choice. Tax rates are chosen to prevent income shifting from labor to capital income. The reform decisively strengthens investment of domestically owned firms as well as home and foreign based multinationals and boosts savings. Simulations with a calibrated growth model for Switzerland indicate that the reform could add between 4 to 5 percent of GNP in the long-run, depending on the specific scenario. Given the slow nature of capital accumulation, it imposes considerable costs in the short-run. We consider a tax smoothing scenario to offset the intergenerationally redistributive effects.
Starting Page	191
Ending Page	221
Page Count	31
File Format	PDF
ISSN	09275940
Journal	International Tax and Public Finance
Volume Number	14
Issue Number	2
e-ISSN	15736970
Language	English
Publisher	Kluwer Academic Publishers
Publisher Date	2006-01-01
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Tax reform Investment Financial structure Growth Public Finance & Economics Business Taxation Finance /Banking
Content Type	Text
Resource Type	Article
Subject	Finance Accounting Economics and Econometrics

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