Tax Rate Uncertainty, Investment Decisions, and Tax Neutrality

被引：0
作者：
Rainer Niemann
机构：
[1] University of Tübingen,Department of Economics
来源：
International Tax and Public Finance | 2004年 / 11卷
关键词：
investment; tax policy uncertainty; tax neutrality;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
This article deals with the effects of tax rate uncertainty (TRU) on individual investment behavior. We show that under risk neutrality as well as under risk aversion, increased TRU has an ambiguous impact on investment, depending on the investment project's structure of cash flows and depreciation deductions. Although the investment effects are small the popular view that tax policy uncertainty depresses real investment is rejected. Further, tax neutrality in the light of tax policy uncertainty is defined more precisely. Neutrality results for the Johansson-Samuelson tax and the cash flow tax that are known from certainty are confirmed under TRU.
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页码：265 / 281
页数：16
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