An Earned Income Tax Credit in the Netherlands: Simulations with the MIMIC Model

In recent policy discussions in the Netherlands, the Earned Income Tax Credit (EITC) has been put forward as an instrument to reduce the unemployment rate among low-skilled workers. Using MIMIC, CPB's applied general equilibrium model for the Netherlands, this article discusses the economic impact of different forms of the EITC. The analysis reveals that moderately targeting the EITC to the unskilled makes the instrument more effective in reducing unemployment. The targeting concept features decreasing returns, however. Indeed, it may be counterproductive if the EITC is targeted at a very small income range. Furthermore, targeting the EITC to the low skilled induces adverse effects on the quality and quantity of labour supply because it raises the marginal tax burden on medium-income workers.     

Personal Income Tax Reform in China in 2018 and Its Impact on Income Distribution

In the context of personal income tax (PIT) reform in China in 2018, this paper examines some of the major issues of concern regarding the reform and income distribution. Using the China Personal Income Tax Micro‐simulation model, the paper compares the differences between the 2011 and 2018 PIT systems, and finds that residents relying on different income sources may face a large degree of real tax rate change. Once the tax system is altered to PIT 2018, the coverage of PIT for wage earners will decrease from 46.9 to 23.4 percent, the income redistributive effect will drop from 1.95 to 1.22 percent and the PIT's role in fiscal revenue will also be negatively affected. Nevertheless, if individual income continues to grow, the share of PIT in fiscal revenue is expected to return to the 2018 level in 2022, but its income redistribution function is difficult to recover in the short term. The paper finds that the effect of PIT on income distribution depends on the tax structure. Gradual transition to an “entirely comprehensive” tax system when conditions are appropriate will achieve better income redistribution results at a lower average tax rate.     

The Impact of Marginal Tax Rates on Taxable Income: Evidence from State Income Tax Differentials

The relationship between marginal tax rates and taxable income is analyzed with a large cross section of income tax returns filed by individuals who face different marginal tax rates because of state income tax differentials. The empirical results suggest that an increase in the marginal tax rate reduces taxable income primarily because taxpayers claim larger deductions. High-income taxpayers are found to be more responsive to tax rate changes than lower-income individuals. The findings are compared to those of other recent studies incorporating a wider range of taxpayer responses to tax rate changes than considered in this study.     

个人所得税对收入分配的影响:由税收累进性和平均税率观察

个人所得税收入调节作用的发挥取决于税制的累进程度和平均税率。从税收累进性和平均税率两方面对我国个人所得税的再分配效应进行解析,得到以下三点基本判断:第一,我国个人所得税的法定累进水平和实际累进水平均已达到发达国家水平;第二,我国个人所得税的平均税率大大低于世界平均水平;第三,我国个人所得税的再分配力度非常小,而平均税率过低是制约我国个人所得税收入调节功能发挥的最主要障碍。因此加强个人所得税收入调节功能的关键是在坚持综合课税改革方向的基础上,通过完善税收征管,不断拓宽个人所得税的课税面、提高其占个人收入的比重。     

The Timing of Redistribution

We investigate whether late redistribution programs that can be targeted toward low income families, but that may distort savings decisions, can “dominate” early redistribution programs that cannot be targeted as a result of information constraints. We use simple two‐period overlapping generations models with heterogeneous agents under six policy regimes: a model calibrated to the U.S. economy (benchmark), two early redistribution (lump sum) regimes, two (targeted) late redistribution regimes, and finally a model without taxes and redistribution. Redistribution programs are financed by a labor tax on the young generation and a capital tax on the old generation. We argue that if the programs are small in size, late redistribution can dominate early redistribution in terms of welfare but not in terms of real output. Better targeting of low income households cannot completely offset savings distortions. In addition, we find that the optimal transfer and tax policy implies a capital tax of 100% and transfers exclusively to the young generation.     

我国个人所得税的再分配效应及国际比较

个人所得税是调节收入分配差距的重要手段之一。文章认为：整个考察期间,除2006年外,我国个人所得税制发挥了正向、且进一步加强的再分配效应。但与其它国家相比,其调节效果非常有限。主要原因在于：我国个人所得税没有发挥主体地位,在制度设计上存在严重缺陷,而且在税收征管上也存在许多漏洞。因此,为了更好地发挥其应有的再分配效应,全面的个人所得税制改革迫在眉睫。     

房产税如何征收才能更公平——基于四种征收方案的对比视角

文章引入税款贴现方法和断路器机制,利用CFPS家庭微观数据模拟测算了新房产税在人均面积扣减、家庭面积扣减、首套房免税和人均价值减免四种方案下的累进程度。研究发现:(1)通过税款贴现方法计算房产税MT指数,得到的最优扣减面积相比非贴现方法偏小,累进程度最高的人均扣减面积为20平米,家庭扣减面积为80平米,人均价值减免扣减面积为20平米;(2)人均价值减免方案对家庭财产的再分配效应最强,首套房免税方案次之,首套房免税方案对家庭收入的再分配效应最强,人均价值减免方案次之;(3)引入断路器机制既能够保证纳税家庭的税款支付能力,还使得高收入阶层负担的房产税份额有所提升,四种征收方案的累进程度在引入断路器机制后都得到显著提高。基于多重因素考量,未来房产税改革应当优先选择首套房免税方案,此方案下不仅能兼顾公平性和家庭支付能力,征管难度也相对更低。     

How Quickly Do Firms Adjust to Optimal Levels of Tax Avoidance?

The trade‐off literature asserts that managers weigh the direct benefits of tax avoidance against the associated nontax costs. This literature implies each firm has a unique optimal level of tax avoidance that balances these costs and benefits. Our study is the first to document how quickly the average firm moves toward its optimal level of tax avoidance. We find that the typical firm converges toward its optimum at a rate that ranges from approximately 69 to 84 percent over a three‐year period, depending upon model specifications. Consistent with asymmetric levels of frictions across the tax avoidance distribution, we find the speed of adjustment is greater for firms below their optimal level of tax avoidance than for firms above. We perform additional cross‐sectional analyses to provide insight into some of the frictions that prevent firms from adjusting completely to their optimal level of tax avoidance. We generally find growth firms exhibit slower adjustment speeds and provide limited evidence that both multinational firms and income‐mobile firms exhibit faster adjustment speeds.     

建立实物收入税基 完善个人收入所得税制度

实物收入是人们收入的重要组成部分之一.文章分析了实物收入免税的不利因素.指出实物收入征税,应符合税收的收入原则、公平原则、效率原则、社会福利原则、调节经济的原则、中性原则和最适原则.     

个人所得税纳税筹划的相关问题研究

纳税筹划是指在纳税行为发生之前,在不违反相关法律、法规的前提下,对涉税事务进行事先策划,达到少缴税和递延缴税的目的。随着经济的发展,个人所得税的纳税筹划也越来越多的受到人们的重视。本文从纳税人、计税依据、税率、优惠政策入手,探讨个人所得税纳税筹划的各种技巧。     

个人所得税税前扣除与税收公平原则

税收具有筹集财政收入和调节经济、调节分配的职能。个人所得税既影响着一个国家的财政收入，又与国民生活质量息息相关，是各国政府十分重视的问题。由于我国在个人所得税领域的税前扣除项目采取的是完全不考虑纳税人的自然状况、家庭负担的扣除方式等，导致了对税收公平原则的违背，直接影响我国建设和谐社会的宏伟目标。对之，一些国家的做法值得我们借鉴。     

关于我国个人所得税制度的思考

我国的个人所得税制度自1980年建立以来,在调节收入分配,缩小贫富差距,增加财政收入方面起到了积极的作用。随着我国经济的快速发展,我国个人所得税制度在税制模式、课税标准、税率、起征点方面日益暴露出其存在的问题。文章认为,建立分类和综合相结合的混合税制,依据物价指数和国家经济形势的发展适时调整费用扣除标准和个税起征点,适当降低边际税率、调整级距是当前个人所得税制度改革需要研究的问题。     

The Elasticity of Taxable Income: The Case of South Africa

A key tax policy parameter that has received much attention in the international literature, but about which there is substantial uncertainty, is the overall elasticity of taxable income. The size of this parameter is central to the formulation of tax and transfer policy, as well as for the study of the welfare implications of tax decisions. This paper uses a panel of individual tax returns for the period 2009–2013 and the phenomenon of “bracket creep” to construct instrumental variable estimates of the sensitivity of income to changes in tax rates. Estimates suggest that the overall elasticity of taxable income is approximately 0.3, while that of broad income is significantly lower. The overall response is primarily driven by the elastic response of taxable income for high‐income earners, who have an elasticity of closer to 0.4. Using the elasticity estimates within an optimal tax framework, it is determined that the optimal marginal tax rate for the top 10% of income earners is broadly in line with the current income tax schedule. However, results also suggest that there is little scope for raising marginal rates on high‐income earners further without inducing a negative revenue response.     

Genes and Social Mobility: A Case for Progressive Income Tax

Abstract

The effect of ability inheritance on income distribution and social mobility is analyzed with an emphsis on the role of progressive income tax. Epstein–Zin style utility function is used to highlight the role of risk aversion. The result shows that higher genetic inheritability leads to lower per capita income, higher income variance and lower aggregate welfare at the steady state. This tendency is intensified when the elasticity of a child's income to parent's educational investment is higher. In this setup, it is shown that progressive income tax can be a welfare-enhancing tool by increasing social mobility. The optimal progressive income tax rate is obtained in the benchmark model and its positive effect is discussed in the context of “Veil of ignorance”, a concept proposed by Rawls (A Theory of Justice (Cambridge, MA: Harvard, University Press), 1971).     

增值税转型改革的减税政策对城乡收入差距的影响研究

共同富裕取得实质性进展是中国特色社会主义的本质要求,而缩小城乡收入差距则是实现共同富裕的关键举措。文章尝试基于共同富裕视角考察增值税转型改革的减税政策对城乡收入差距的影响及其机制,旨在理解税收政策对协调城乡区域发展的积极作用,并利用2001-2020年中国地级市层面的统计数据进行实证检验,发现增值税转型改革的减税政策显著缩小了城乡收入差距,且一系列稳健性检验均支持上述研究结论。机制检验表明,增值税转型改革推动了农村劳动力向非农部门转移趋势,增加了农村居民工资性收入并有助于缩小城乡收入差距。进一步研究发现,增值税转型改革的确增加了农村居民收入,并通过促进农业机械化而释放了农村劳动力。本文为切实缩小城乡收入差距、协调推进城乡区域平衡发展极具现实意义,并为深入推进减税降费改革提供了实证证据和研究基础。     

The Effect of Tax Preparation Expenses for Employees: Evidence from Germany

Using a panel of German income tax accounting data from taxpayers with no business income (employees), we find a negative relationship between tax preparation expenses and tax liabilities. However, preparation expenses are shown to exceed estimated tax savings. Specifically, one additional Euro spent on preparation yields an estimated tax savings of 72 cents in an OLS regression and 24 cents in a fixed effects regression. In addition, we observe substantial heterogeneity in tax savings among income groups, but even if we account for long‐term tax savings, tax liability reductions exceed tax preparation expenses only for the highest income quintile. In all other income quintiles, average preparation expenses exceed the estimated tax and time savings. Based on these results, we also examine whether other specific benefits affect an individual's decision to purchase tax preparation services, and the results indicate the importance of the benefits of coping with complexity and reduced uncertainty. Overall, our findings illustrate that the current tax compliance process violates at least two of Adam Smith's principles of taxation, taxes are neither certain nor fair.     

个人所得税自行纳税申报的现实约束分析

自行纳税申报制度是实行综合个人所得税课税模式的基础,目前在我国还很不完善。本文在利用税收遵从理论、激励理论有关结论的基础上,对我国现行个人所得税制及税收征管制度进行分析,找出了制约个人所得税自行申报的主要原因,并提出相关的政策建议。     

Strategic Tax and Financial Reporting Decisions: Theory and Evidence*

This paper examines the effect of book‐tax differences on the probability that a transaction is audited and the probability that additional taxes are collected. It constructs a stylized model in which the taxpayer reports both financial accounting income and taxable income. The government observes both reports before deciding whether to conduct an audit. The analysis of the equilibrium yields two hypotheses. First, the probability that the government will audit a transaction is higher if the transaction generates a positive book‐tax difference (e.g., an expenditure that is deducted for tax purposes but capitalized for financial reporting purposes) than if the transaction generates no book‐tax difference. Second, conditional on being selected for audit, transactions with and without book‐tax differences are equally likely to have detected understatements of tax liability. These hypotheses are tested using Internal Revenue Service (IRS) data from the Coordinated Examination Program. The empirical tests are consistent with the predictions of the strategic tax compliance model.     

我国个人所得税税制设计探讨

我国个人所得税税制的改革应以调节个人收入分配差距为主要目标，遵循能力赋税与征收便利的原则。个人所得税税制改革应向综合课税迈进，以家庭为纳税单位，设计统一多级超额累进税率，完善税前扣除体系，充分发挥其作为社会主义市场经济条件下再次分配环节中调节收入分配的杠杆作用。     

Tax policy implications for a two‐engine growing economy

In an endogenous growth model with two engines of R&D and capital, we investigate the environment of “inclusive growth” for tax reallocations (tax increases or tax credits) to gain broader benefits in terms of promoting the overall GDP growth without an increase in income inequality. Our results show that a tax increase in the capital‐good sector can result in inclusive growth, boosting overall growth and reducing income inequality, provided that the status quo tax rate is not too high. Surprisingly, tax credits are not able to achieve such inclusive growth. While the GDP growth rises, a tax credit in the R&D sector not only increases income inequality but also decreases the aggregate employment, if the labor mobility cost between the final‐good and R&D/capital‐good sectors is relatively low. This provides a caution to policymakers given the fact that research tax credits have served as a common incentive to strengthen the R&D environment.