The Elasticity of Corporate Taxable Income: New Evidence from UK Tax Records

被引：64

作者：

Devereux, Michael P. ^{[1
]}

Liu, Li ^{[1
]}

Loretz, Simon ^{[2
]}

机构：

[1] Univ Oxford, Ctr Business Taxat, Said Business Sch, Oxford OX1 1HP, England

[2] Univ Bayreuth, D-95440 Bayreuth, Germany

来源：

AMERICAN ECONOMIC JOURNAL-ECONOMIC POLICY | 2014年 / 6卷 / 02期

关键词：

DEADWEIGHT LOSS; ORGANIZATIONAL FORM; RESPONSES; CHOICE; POLICY; RATES;

D O I：

10.1257/pol.6.2.19

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We estimate the elasticity of corporate taxable income with respect to the statutory corporation tax rate using the population of UK corporation tax returns. We analyze bunching in the distribution of taxable income at kinks in the marginal rate schedule. We decompose this elasticity into an elasticity of total income with respect to the corporation tax rate, and an elasticity of the share of income taken as profit with respect to the difference between the personal and corporate tax rates. This implies a marginal deadweight cost at the 10,000 pound kink of around 29 percent of tax revenue.

引用

页码：19 / 53

页数：35

共 34 条

[1] Repatriation taxes, repatriation strategies and multinational financial policy [J].

Altshuler, R ;

Grubert, H .

JOURNAL OF PUBLIC ECONOMICS, 2003, 87 (01) :73-107

[2] Taxes and company dividends: A microeconometric investigation exploiting cross-section variation in taxes [J].

Bond, SR ;

Chennells, L ;

Devereux, MP .

ECONOMIC JOURNAL, 1996, 106 (435) :320-333

[3] Explaining investment dynamics in US manufacturing:: A generalized (S,s) approach [J].

Caballero, RJ ;

Engel, EMRA .

ECONOMETRICA, 1999, 67 (04) :783-826

[4]

Chetty R, 2005, Q J ECON, V120, P791, DOI 10.1162/003355305774268174

[5] ADJUSTMENT COSTS, FIRM RESPONSES, AND MICRO VS. MACRO LABOR SUPPLY ELASTICITIES: EVIDENCE FROM DANISH TAX RECORDS [J].

Chetty, Raj ;

Friedman, John N. ;

Olsen, Tore ;

Pistaferri, Luigi .

QUARTERLY JOURNAL OF ECONOMICS, 2011, 126 (02) :749-804

[6] Is the Taxable Income Elasticity Sufficient to Calculate Deadweight Loss? The Implications of Evasion and Avoidance [J].

Chetty, Raj .

AMERICAN ECONOMIC JOURNAL-ECONOMIC POLICY, 2009, 1 (02) :31-52

[7] On the nature of capital adjustment costs [J].

Cooper, RW ;

Haltiwanger, JC .

REVIEW OF ECONOMIC STUDIES, 2006, 73 (03) :611-633

[8] Corporate tax policy and incorporation in the EU [J].

de Mooij, Ruud A. ;

Nicodeme, Gaetan .

INTERNATIONAL TAX AND PUBLIC FINANCE, 2008, 15 (04) :478-498

[9] A multinational perspective on capital structure choice and internal capital markets [J].

Desai, MA ;

Foley, CF ;

Hines, JR .

JOURNAL OF FINANCE, 2004, 59 (06) :2451-2487

[10]

Devereux Michael P., 2014, AM EC J EC POLICY

← 1 2 3 4 →