Can Georgia Move from Income Tax to Consumption Tax?

2013 ◽  
Author(s):  
Sally Wallace
Keyword(s):  
Income Tax ◽  
Consumption Tax

scholarly journals The Fiscal State-Dependent Effects of Capital Income Tax Cuts

2020 ◽  
Vol 20 (71) ◽  
Author(s):  
Alexandra Fotiou ◽  
Wenyi Shen ◽  
Shu-Chun Susan Yang
Keyword(s):  
Regime Switching ◽  
Income Tax ◽  
Government Debt ◽  
Smooth Transition ◽  
Consumption Tax ◽  
Capital Income ◽  
State Dependent ◽  
Fiscal State ◽  
High Level ◽  
Tax Cuts

Using the post-WWII data of U.S. federal corporate income tax changes, within a Smooth Transition VAR, this paper finds that the output effect of capital income tax cuts is government debt-dependent: it is less expansionary when debt is high than when it is low. To explore the mechanisms that can drive this fiscal state-dependent tax effect, the paper uses a DSGE model with regime-switching fiscal policy and finds that a capital income tax cut is stimulative to the extent that it is unlikely to result in a future fiscal adjustment. As government debt increases to a sufficiently high level, the probability of future fiscal adjustments starts rising, and the expansionary effects of a capital income tax cut can diminish substantially, whether the expected adjustments are through a policy reversal or a consumption tax increase. Also, a capital income tax cut need not always have large revenue feedback effects as suggested in the literature.

scholarly journals HARMONIZATION OF TAX LEGISLATION OF THE ASEAN COMMUNITY

2017 ◽  
Vol 1 (1) ◽  
pp. 1-10
Author(s):  
TANAPONG DAMKERNGKHAJORNWONG
Keyword(s):  
Income Tax ◽  
Personal Income ◽  
Tax Rates ◽  
Personal Income Tax ◽  
Consumption Tax ◽  
Direct Taxation ◽  
Tax Legislation ◽  
Asean Member ◽  
Tax Harmonization ◽  
Asean Countries

Abstract This article indicates how tax legislations, both in direct and indirect fields, of ASEAN countries should be harmonized. With respect to direct taxation, the issue of direct tax rates harmonization - personal income tax and corporate income tax - will firstly be discussed. Further, I will look into how the personal income tax treatment on a resident exercising the free movement of skilled labour should be. In addition, how to enhance the network of tax treaties between ASEAN Member States and withholding tax levied on cross-border transaction will also be described. As regards indirect taxation, I will consider to what extent such the consumption tax systems as VAT and GST in each ASEAN countries could be in accordance with each other. Finally, what challenges over tax harmonization in ASEAN can be will be noted. The majority of the discussions above will be based upon the tax harmonization and coordination already conducted within the EU. 

scholarly journals HARMONIZATION OF TAX LEGISLATION OF THE ASEAN COMMUNITY

2017 ◽  
Vol 1 (1) ◽  
pp. 1-10
Author(s):  
TANAPONG DAMKERNGKHAJORNWONG
Keyword(s):  
Income Tax ◽  
Personal Income ◽  
Tax Rates ◽  
Personal Income Tax ◽  
Consumption Tax ◽  
Direct Taxation ◽  
Tax Legislation ◽  
Asean Member ◽  
Tax Harmonization ◽  
Asean Countries

Abstract This article indicates how tax legislations, both in direct and indirect fields, of ASEAN countries should be harmonized. With respect to direct taxation, the issue of direct tax rates harmonization - personal income tax and corporate income tax - will firstly be discussed. Further, I will look into how the personal income tax treatment on a resident exercising the free movement of skilled labour should be. In addition, how to enhance the network of tax treaties between ASEAN Member States and withholding tax levied on cross-border transaction will also be described. As regards indirect taxation, I will consider to what extent such the consumption tax systems as VAT and GST in each ASEAN countries could be in accordance with each other. Finally, what challenges over tax harmonization in ASEAN can be will be noted. The majority of the discussions above will be based upon the tax harmonization and coordination already conducted within the EU. 

scholarly journals Laffer Curves and Home Production

2017 ◽  
Vol 2017 (1) ◽  
pp. 59-69
Author(s):  
Mauri Kotamäki
Keyword(s):  
Labor Supply ◽  
Income Tax ◽  
Private Consumption ◽  
Home Production ◽  
Consumption Tax ◽  
Tax Base ◽  
Tax Rate ◽  
Related Literature ◽  
Laffer Curve ◽  
Laffer Curves

Abstract In the earlier related literature, consumption tax rate Laffer curve is found to be strictly increasing (see Trabandt and Uhlig (2011)). In this paper, a general equilibrium macro model is augmented by introducing a substitute for private consumption in the form of home production. The introduction of home production brings about an additional margin of adjustment – an increase in consumption tax rate not only decreases labor supply and reduces the consumption tax base but also allows a substitution of market goods with home-produced goods. The main objective of this paper is to show that, after the introduction of home production, the consumption tax Laffer curve exhibits an inverse U-shape. Also the income tax Laffer curves are significantly altered. The result shown in this paper casts doubt on some of the earlier results in the literature.

scholarly journals O Regime Fiscal das Pequenas e Médias Empresas (PME)

2016 ◽  
Vol 11 (2) ◽  
Author(s):  
José Casalta Nabais
Keyword(s):  
Income Tax ◽  
Tax Incentives ◽  
Personal Income ◽  
Corporate Income Tax ◽  
Eu Law ◽  
Relevant Factor ◽  
Personal Income Tax ◽  
Consumption Tax ◽  
Fiscal Regime ◽  
Specific Tax

O REGIME FISCAL DAS PEQUENAS E MÉDIAS EMPRESAS*  THE FISCAL REGIME OF SMALL AND MEDIUM-SIZED COMPANIES  José Casalta Nabais**  RESUMO: O autor começa por dar conta da delimitação das micro, pequenas e médias empresas no direito da União Europeia e sua correspondência na ordem jurídica portuguesa. Depois refere algumas das situações em que a dimensão das empresas é considerada na tributação do rendimento e do consumo, destacando os regimes simplificado em IRS e em IRC e os regimes de isenção e dos pequenos retalhistas em IVA. Trata também dos incentivos fiscais mais importantes que têm por objecto as micro, pequenas e médias empresas, em que salienta os dirigidos à capitalização das empresas. Termina reflectindo sobre o actual sentido de um específico regime fiscal para as PME e a necessidade da consideração unitária do fenómeno financeiro das empresas. PALAVRAS-CHAVE: Micro, Pequenas e Médias Empresas. Tributação do Rendimento e do Consumo. Incentivos Fiscais. ABSTRACT: The author starts by explaining the meaning of micro, small and medium-sized companies in EU law and the correspondent characterisation in Portuguese law. After mentioning some of the situations in which the dimension is considered as a relevant factor in the taxation of income and consumption, he emphasis the simplified regimes in the Portuguese Personal Income Tax (IRS) and in the Portuguese Corporate Income Tax (IRC) as well as the exemption systems and small retailers taxation in VAT. It also explains the tax incentives directly pointed to the micro, small and medium-sized companies, and stresses the ones that are focused to the capitalization of the companies. In the end, the text reflects on the actual sense of a specific tax scheme for micro, small and medium companies (SME’s) and the need for consideration of the phenomenon of companies as a financial unit. KEYWORDS: Micro, Small and Medium-sized Companies. Taxation of Income and Consumption. Tax Incentives.   SUMÁRIO: Introdução. 1 A Diversidade de Empresas com Reflexo no Direito Fiscal. 1.1 A Base Jurídica e o Universo das PME. 1.2 Alusão às Empresas Transnacionais e sua Separação das Demais Empresas. 2 Aspectos do Regime Fiscal das PME. 2.1 A Consideração das PME em Sede do IRS Empresarial e do IRC. 2.2 A Consideração das PME em Sede do IVA. 2.3 As PME e os Benefícios Fiscais. 2.3.1 Os Benefícios Fiscais em Sentido Estrito e os Incentivos Fiscais. 2.3.2 Referência a Alguns Incentivos Fiscais Destinados às PME. 3 Por uma Abordagem Fiscal mais Consequente e Simples das PME. 3.1 Sentido Actual de um Específico Tratamento Fiscal das PME. 3.2 A Consideração Fiscal Unitária do Fenómeno Financeiro das Empresas. Referências.* Artigo elaborado a partir da nossa participação no Congresso Internacional “As PME e o Direito”, realizado na Faculdade de Direito da Universidade de Coimbra, Portugal, pelo Instituto Jurídico (IJ) e Instituto de Direito das Empresas e do Trabalho (IDET), nos dias 6 e 7 de Outubro de 2016.** Catedrático associado com agregação na Faculdade de Direito da Universidade de Coimbra, Portugal, onde leciona Direito Administrativo e Fiscal, junto ao Programa de Pós-Graduação. Doutor em Ciências Jurídico-Políticas pela Universidade de Coimbra, Portugal.

scholarly journals Government Expenditure Financing, Growth, and Factor Intensity

2016 ◽  
Vol 11 (4) ◽  
pp. 178
Author(s):  
Kuo-hao Lee
Keyword(s):  
Growth Rate ◽  
Income Tax ◽  
Government Expenditure ◽  
Total Output ◽  
Consumption Tax ◽  
Factor Intensity ◽  
Balanced Growth ◽  
Sector Model ◽  
Lump Sum ◽  
Investment Goods

<span lang="EN-US">By shedding light on the factor intensity, this paper incorporates the Romer (1986)-type knowledge spillover technology into the Uzawa (1961, 1963) two-sector model of consumption and investment goods and studies the effect of the ratio of government expenditure to total output on the economic growth rate under three types of tax financing schemes: lump-sum tax financing, income tax financing, and consumption tax financing. We find that a rise in government expenditure with lump-sum tax financing has an ambiguous effect on the balanced growth rate depending on the factor intensity between the sectors. The balanced growth rate decreases (increases) with a rise in government spending if the consumption (investment) goods sector is capital-intensive. Moreover, the result of consumption tax financing is equivalent to lump-sum tax financing, while an increase in the government expenditure with income tax financing reduces the balanced growth rate. Our two-sector model with lump-sum tax or consumption tax financing seems to be able to provide a channel through which to explain the mixed empirical findings.</span>

Consumption tax revenue and personal income tax: analytical elasticities under non-standard tax structures

2016 ◽  
Vol 48 (42) ◽  
pp. 4042-4050
Author(s):  
José Félix Sanz-Sanz ◽  
Juan Manuel Castañer-Carrasco ◽  
Desiderio Romero-Jordán
Keyword(s):  
Income Tax ◽  
Personal Income ◽  
Tax Revenue ◽  
Personal Income Tax ◽  
Consumption Tax ◽  
Tax Structures

The Size of Government, Capital Accumulation, and the Tax Base

1983 ◽  
Vol 11 (3) ◽  
pp. 321-345 ◽  
Author(s):  
David C. L. Nellor
Keyword(s):  
Tax Policy ◽  
Income Tax ◽  
Capital Accumulation ◽  
Tax Reform ◽  
Consumption Tax ◽  
Size Of Government ◽  
Tax Base ◽  
Tax System ◽  
Policy Concern

A central tax policy concern is the role of particular tax bases in either stimulating or discouraging capital accumulation. While the consumption tax has been proposed as superior to the income tax in terms of its treatment of saving, the literature has shown that whether a consumption or income-based tax system is associated with greater capital accumulation is theoretically indeterminate. This article incorporates the role of public accumulation and changing government activities into its analysis of capital accumulation, which enables this ambiguity to be resolved. An examination of U.S. data for the 1929–1978 period suggests that had inflation adjustment of the income tax been adopted it would, contrary to the implication of several tax reform proposals, have resulted in greater accumulation than the implementation of a consumption tax.

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