A note on the neutrality of the cash flow corporation tax |
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Authors: | Agnar Sandmo |
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Institution: | The Norwegian School of Economics and Business Administration, 5000 Bergen, Norway |
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Abstract: | The cash flow tax has been widely recommended as a form of taxing corporate income which is neutral with respect to investment decisions. This note points out that the claim is valid only under the assumption that the tax rate is constant over time. By contrast, an ‘ideal’ profits tax is neutral whatever the time shape of the tax rate. |
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