General equilibrium and optimal taxes

It is shown that if subsidies are not excessive, there exists a general competitive equilibrium in the presence of a complex tax structure. Furthermore, under certain continuity assumptions, a tax structure which is optimal from the social point of view can be determined. Procedures maximize quasi-concave after tax profit functions. Consumers have convex budget sets reflect- ing their income from sales and profits minus taxes on fixed income and progressive sales taxes. Their preferences are interdependent, intransitive and incomplete. The government provides public goods and determines the optimal tax regime on the basis of its preferences on the final competitive consumption allocation.     

EDITORIAL: TAX REFORM AND SIMPLIFICATION

Major tax reform to simplify the UK tax system is possible. Merging income taxes, social security taxes and corporation tax into only a single flat-rate of tax on all incomes would be a radical start. Avoiding taxes on income and expenditure which are 'too high' requires major reductions in government spending, mainly on the welfare state. Given the political will, over a period of years we really can hugely improve the UK tax system.     

Vertical income tax externalities and fiscal interdependence: evidence from the US

Concurrent taxation is a feature of many federal systems. As a result, the tax policy of one level of government affects the tax base of the other. A way to check the empirical relevance of this hypothesis is to test for the existence of interdependencies in the tax setting behaviour of various layers of government. Following this approach, this paper estimates the reaction of US state personal income and general sales taxes to federal tax rates, taking into account the special features of the US tax system. We find that when the federal government increases taxes, there is a significant positive response of state taxes.     

Reforming or Transforming the Federal Tax System: (A Review Essay)

A bstract . Several proposals to reform the federal income tax system are under active consideration. Professor Richard W. Lindholm has proposed instead that we abolish the individual and corporate income taxes and the estate and gift taxes. To replace the lost revenue he proposes a flat 15 per cent value added tax and a flat 2 per cent net wealth tax. He posits five goals for successful tax reform and discusses his proposed system in terms of them. He finds his system would be simpler and less disruptive of markets than even a simplified income tax structure.     

Local taxation and the consequences of revenue distribution patterns

The economy of a small region. is modeled as an eighteen-equation system describing production, consumption, income distribution, factor supply, and a government sector. The government uses: independent taxes on land rents and capital rentals to collect revenue equal to 20% of what land rents would be in an untaxed equilibrium and distributes the revenue to local residents in four different patterns. The distribution of the tax revenue, as well as the mobility of the factor taxed, generates distinct patterns of impacts on regional population, capital stock and production structure wages rents and the incidence of the taxes.     

Income taxes and the destination of movers to multistate MSAs

We examine how differences in state income tax rates, as well as other state and local taxes and public service expenditures, influence the choice of state of residence for households (federal tax filers) moving into multistate metropolitan areas (MSAs) using data from the IRS on the migration of taxpayers. MSAs that are on borders provide a spatial discontinuity—discrete differences in state tax rates within a single labor market. These MSAs allow residents to live in one state and work in another state. We find that differences in state income tax rates have a significant impact on the relative rate of migration to the states within an MSA. However, contrary to what would be expected, this impact is only significant in MSAs in which the filing state is based on employment (states without reciprocity) and not for those states in which the filing state is the state of residence (states with reciprocity). In MSAs where states do not have reciprocity agreements, a difference of ten percent in tax rates leads to a 4.1 percent difference in the relative rate of incoming taxpayers. Analogously, we find that a ten percent difference in state tax rates in these MSAs results in a 3.3 percent difference in the rate of tax base inflow (AGI). Our results suggest that one reason that differences in state income taxes appear to have more impact in multistate MSAs without reciprocity is that only relatively large differences in state income tax rates have any impact on migration and these differences are much more pronounced in MSAs without reciprocity.     

关于教职工个人所得税税收筹划浅析

个人所得税是我国重要的税种之一,认真履行代扣代缴个人所得税是单位财务部门的重要工作内容。2019年1月1日实施新的个人所得税以来,个人所得税代缴工作暴露出不少问题,如漏缴、不足额代缴等问题突出。因此,如何构建合理的个人所得税税收筹划,降低职工的税收负担成为构建高质量财务管理工作的当务之急。     

浅谈个人所得税的筹划技巧

个人所得税的征收在现在社会备受关注,本文以我国现行的个人所得税法规为依据,从个人所得税筹划的思路出发,介绍了两个经典的个人所得税筹划案例,希望通过本文可以让读者在履行自身应尽纳税义务的同时,又能用合理合法的筹划手段来维护自身权益。     

Progressive Taxes and the Labour Market: Is the Trade–off Between Equality and Efficiency Inevitable?

Does an income tax harm economic efficiency more the more progressive it is? Public economics provides a strong case for a definite ‘yes’. But at least three forces may pull in the other direction. First, low–wage workers may on average have more elastic labour supply schedules than high–wage workers, in which case progressive taxes contribute to a more efficient allocation of the total tax burden. Second, in non–competitive labour markets, progressive taxes may encourage wage moderation, and hence reduce the equilibrium level of unemployment. And third, if wage setters have egalitarian objectives, progressive taxes may reduce the need for redistribution in pre–tax wages, and hence increase the demand for low–skilled workers. This paper surveys the theoretical, as well as the empirical literature about labour supply, taxes and wage setting. We conclude that in a second best world, the trade–off between equality and efficiency is not always inevitable.     

Planning Feature The Forecast in Detail: (2) Assumptions

We continue to make our best guesses about likely policy developments rather than assuming ' unchanged policies '. This forecast differs from our July forecast in that we have not assumed any income tax cuts; nor have we assumed, as we did in July, that National Insurance contributions would be increased. We do, however, continue to assume the abolition of the national insurance surcharge in two equal stages during the 1984-5 fiscal year, as well as the usual indexation of tax allowances and bands and revalorisation of indirect taxes. This change in assumptions about policy reflects our guess that the new Chancellor, Nigel Lawson, will attempt to hit his monetary targets by a combination of tighter fiscal policy and lower interest rates than we had previously assumed. In this forecast interest rates are on average about 2 points lower than in July.     

Income tax competition at the State and Local Level in Switzerland

Tax competition is supposed to lead to inefficiencies in the provision of public goods and difficulties for decentralized redistribution. A necessary condition for these effects to occur is that residence and location decisions are determined by fiscal considerations. In this paper, the impact of personal income taxes and transfer payments on residence decisions of taxpayers is analyzed using cross sectional data on the distribution of different groups of taxpayers in different income groups among the 26 Swiss cantons and the 137 largest Swiss cities. We find that tax competition with respect to personal income taxes is relatively strong in Switzerland.     

Revenue equivalence and income taxation

This paper considers the classical independent private values model of auction theory in the presence of income taxation. We show that revenue equivalence remains valid if income taxes are proportional. Progressive and regressive taxes lead, in general, to asymmetries between bidders with the well-known consequence that revenue equivalence no longer holds. However, if symmetry of the bidders is maintained, progressive (regressive) income tax implies a higher (lower) expected revenue in first-price than in second-price auctions. Financial support by theDeutsche Forschungsgemeinschaft is gratefully acknowledge.     

Eliminating Housing Tax Preferences: A Distributional Analysis

We examine the distributional impact of potential changes in the tax treatment of owner-occupied housing in this paper. In particular, we focus on the removal of mortgage interest and local property tax deductibility. A theoretical model of the demand for housing is developed that captures the impact of removing these deductions on housing demand. Then, we use a large cross section of individual income tax returns from the Internal Revenue Service for 1990 to estimate the distributional effects of removing housing deductions. Taxpayers are ranked by income and tax liability, both with and without the housing deductions. By comparing tax liability under the alternative regimes, and composing measures of the distributional impact of removing housing tax deductions using the classic Suits index, we assess both revenue neutral and nonrevenue neutral distributional effects. Results in both cases indicate that the removal of the tax deductibility of mortgage interest and property taxes would increase the progressivity of the income tax substantially.     

Theoretical analysis and empirical measurements of the effects of the Philadelphia income tax

This study develops policy-oriented measures of optimal local taxes and their maxima which take into account the existence of macro multipliers, other taxes, and discounting. It also presents an estimate of the effects of the Philadelphia income tax on employment tax and revenues. An upper bound for the optimal tax rate is suggested. The current tax rate is found to perhaps be above both the optimal and the revenue maximizing (or monopoly) point.     

论个人所得税存在的问题及改革方向

我国自1980年开征个人所得税以来,特别是1994年新的“个人所得税法”颁布实施以来,个人所得税呈大幅度增长趋势,在税收中所占的比重也逐年提高,现今已经成为我国的第四大税种。但是随着我国市场经济体制的深入发展,居民收入水平的明显提高,个人所得税税制本身和征管中都存在和暴露了一些问题,对其进行改革已经势在必行。文中对我国现行个人所得税税制本身和征管中存在的一些问题进行探讨,并提出相应的改革思路。     

企业所得税对债务融资影响分析——基于我国上市公司的实证研究

本文主要研究了企业所得税对企业债务融资决策产生的影响。研究结论支持了修正的MM理论关于税收对企业的债务融资决策有影响的观点。研究表明:在我国上市公司的债务融资决策中,企业所得税是考虑的因素之一,主要表现在其他条件相同的情况下,实际税率较高的企业债务融资的利用程度较高,享受税盾利益的动机相对较强。同时在我国上市公司中,债务性税盾与非债务性税盾的替代作用并不明显。     

Can partial fiscal coordination be welfare worsening?: A model of tax competition

Most work on tax competition argues that mobile factors tend to be undertaxed except if there is coordination of tax policies. Full coordination is not however always feasible, and as a consequence some measures of partial coordination have been proposed such as minimal withholding taxes on interest income. We show that partial coordination can be in some instances welfare worsening and that then no coordination is to be preferred.     

对非公经济业主征交个税的探索

论文运用综评论三段式研究法,对非公经济公司所得税和个人所得税征交中存在问题、形成原因和治理对策进行了创新性研究,提出了倒逼思路、倒算方法和税转股等创新见解,以期影响立法机构修订税法。     

The distributional implications of tax and transfer programs in US

The distributional consequences of changes in tax laws and transfer programs in the United States are studied. Using detailed household income data from the Panel Study of Income Dynamics (PSID) from 1981–91, income inequality is measured for both pretax/transfer and post-tax/transfer definitions of household income. A new statistical methodology for assessing the impact of changes in taxes and transfers on the size distribution of income is utilized. Confidence intervals are constructed for various measures of inequality, and hypothesis tests are conducted to determine whether observed changes in the distribution of income due to taxes and transfers are statistically significant. Using decomposable measures of inequality, the implications of type of tax table used are investigated.     

The Built‐in Flexibility of Income and Consumption Taxes

This paper reviews, and synthesises within a uniform framework, a number of analytical results on the built‐in flexibility of taxation. Established results for income taxes are reviewed and integrated with recent results for consumption taxes. These help to provide a better understanding of the determinants of the revenue responsiveness properties of different taxes. They also provide convenient expressions for the calculation of tax revenue elasticities in practice. It is shown that the magnitude of revenue elasticities can be expected to differ substantially for alternative taxes, for different forms of the same tax, and for the same tax over time as incomes change relative to tax thresholds and as consumption patterns change. These results are especially relevant for the many industrialised countries which have undertaken major fiscal reforms in recent years with, often unintended, consequences for revenue elasticities.