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Business and Economics > Corporate Taxation

You are looking at 1 - 10 of 11 items for :

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Cover IMF Working Papers
Searching for Wage Growth: Policy Responses to the “New Machine Age”
Andrew Berg
,
Edward F Buffie
,
Mariarosaria Comunale
,
Chris Papageorgiou
, and
Luis-Felipe Zanna
The current wave of technological revolution is changing the way policies work. This paper examines the growth and distributional implications of three policies when “robot'' capital (a broad definition of robots, Artificial Intelligence, computers, big data, digitalization, networks, sensors and servos) is introduced in a neoclassical growth model. 1) cuts to the corporate tax rate; 2) increases in education spending; and 3) increases in infrastructure investment. We find that incorporating “robot'' capital into the model does make a big difference to policy outcomes: the trickle-down effects of corporate tax cuts on unskilled wages are attenuated, and the advantages of investment in infrastructure, and especially in education, are bigger. Based on our calibrations grounded on new empirical estimates, infrastructure investment and corporate tax cuts dominate investment in education in a "traditional" economy. However, in an economy with “robots” the infrastructure investment dominates corporate tax cuts, while investment in education tends to produce the highest welfare gains of all. The specific results, of course, may depend on the exact modeling of the technological change, but our main results remain valid and can provide more accurate welfare rankings.
Keywords:
Technological change; Artificial Intelligence; robots; growth; income distribution; fiscal policy; public investment; education; corporate tax tax cut; way policy; infrastructure investment; IMF working paper No. 2024/3; ICT capital; Robotics; Skilled labor; Unskilled labor; Wages; Europe; Global
Cover IMF Staff Country Reports
Dominica: Selected Issues
International Monetary Fund. Western Hemisphere Dept.
Selected Issues
Keywords:
moment Calibration summary; income distribution implication; building RESILIENCE; shadow economy estimate; B. General model description; fiscal policy experiment; Corporate income tax; Informal economy; Personal income tax; Consumption; Caribbean
Cover IMF Staff Country Reports
Morocco: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
This Selected Issues paper examines the distributional effects of tax reforms in Morocco. Overall, the performance of Morocco’s tax system is satisfactory, but there is scope to strengthen it and make it more equitable and less distortive. Morocco would benefit from a comprehensive and well explained tax reform strategy aiming to reduce inequality and boost growth. For this, a recommended tax reform package should combine several key components, for example, reducing tax exemptions, raising property tax, and lowering corporate tax rates. At the same time, the targeting of social programs should be strengthened. Such a reform approach would protect the most vulnerable and help broaden the tax base, remove tax distortions, and better share the tax burden.
Keywords:
ISCR; CR; Morocco; tax rate; rate; tax; productivity growth; labor productivity level; tax reform; productivity gap; reform package; Value-added tax; Corporate income tax; Productivity; Middle East; North Africa; East Africa; Europe; Asia and Pacific
Cover Policy Papers
Issues in International Taxation and the Role of the IMF
International Monetary Fund
In the discussion of the Board work program on June 3, 2013, it was urged that the Fund be more present in current discussions of international tax issues. This note reviews key issues and initiatives in this area, and sets out a work plan that is focused on the Fund‘s mandate and macroeconomic expertise and that complements the work of other institutions, notably the OECD.
Keywords:
PP; tax; country; multinational; tax competition; regime; transfer pricing; tax authorities; tax evasion; economic activity; tax system; TA program; Corporate income tax; International tax issues; Worldwide taxation; Tax evasion; Global
Cover IMF Staff Country Reports
Germany: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Germany
International Monetary Fund
Germany’s economic growth and recovery from the global crisis are explained in this study. Tax, education, and innovation policies are specific measures supported by the authorities. External and financial shocks received by Germany and other outward spillovers are outlined. Germany has a high current account and international assets. From a long-term perspective, rebalancing of public finances to promote growth is desirable. Stress tests are conducted to confirm the capital buffers. Finally, the banking system of Germany reflects significant policy measures and economic recovery.
Keywords:
ISCR; CR; financing; authority; Three-Pillar banking system; demand; Rebounding export market share; government finance; deposit guarantee schemes regime; current account; financial system; consumption-savings proportion; budget consolidation in Germany; Commercial banks; Cooperative banks; Global; Europe
Cover IMF Staff Country Reports
Greece: Selected Issues
International Monetary Fund
This paper provides an assessment of Greece’s competitiveness, export performance, and national saving and investment. It examines the Greek tax ratio and structure, and places them in the EU context. It also reviews the design of the various tax categories, and identifies the scope for further simplifying the tax system and broadening the tax base. The paper discusses that it would be desirable to raise the tax ratio through expanding the tax base before considering raising tax rates.
Keywords:
ISCR; CR; export; saving-investment gap; housing investment; C. export performance; export category; medium-to high-tech export; personal income; manufacturing firm; Corporate income tax; Personal income; Personal income tax; Income and capital gains taxes; Income tax systems; Global; Europe; Asia and Pacific
Cover IMF Staff Country Reports
France: 2007 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for France
International Monetary Fund
France’s near–term economic outlook is moderately positive, but clouded by risks from the global environment. The government’s reformist intentions provide an historic opportunity to place France onto a sustained higher growth path with greater opportunities for all. Economic policy should address the root cause of faltering growth performance. Further goods and services market reforms will boost potential output and consumer welfare. Fiscal policy should be vigilant to the risk of slippage in the fiscal deficit. The ongoing expenditure and tax policy reviews have been commended.
Keywords:
ISCR; CR; market; government; headline inflation; Société Générale; staff; IMF staff; SG episode; market condition; lending standard; staff reduction; Labor markets; Fiscal consolidation; Purchasing power; Global
Cover IMF Staff Country Reports
Germany: Staff Report for the 2006 Article IV Consultation
International Monetary Fund
The three-point VAT increase is part of a package in which unemployment payroll taxes will be reduced. Risks to the recovery are balanced but the range of forecasts for 2007 is unusually wide. The priority for Germany is to transmit its external strength to the domestic economy, thus further broadening the recovery and creating conditions for sustained high growth. The authorities are undertaking a review of active labor market policies (ALMPs) with a view to curtailing their number.
Keywords:
ISCR; CR; deficit; fund staff projection; core rate of inflation; government; rate; unemployment insurance rate; staff appraisal; labor productivity growth; Commercial banks; Employment; Cooperative banks; Wages; Global; Europe
Cover IMF Staff Country Reports
Algeria: Selected Issues
International Monetary Fund
This Selected Issues paper for Algeria analyzes the potential economic impact of Algeria’s Association Agreement with the European Union (AAEU). The paper lays out the major elements of Algeria’s AAEU and makes a comparison with other AAEUs. It discusses the potential economic implications (costs and benefits) of the agreement, and elaborates economic policy issues and challenges. The paper also takes stock of Algeria’s business climate as the authorities consider the use of the fiscal space created by higher hydrocarbon revenues to tackle Algeria’s jobs challenge.
Keywords:
ISCR; CR; government; country; Algeria; firm; enterprise; small and medium-sized enterprise; labor-intensive small and medium-sized enterprises; trade diversion; hydrocarbon sector; jobs challenge; trade liberalization; Algeria's AAEU; trade partner; retard enterprise restructuring; face in Algeria; Corporate income tax; Payroll tax; Tariffs; Business environment; Maghreb; Europe
Cover IMF Staff Country Reports
Republic of Poland: Selected Issues
International Monetary Fund
This Selected Issues paper analyzes the use of fiscal rules in Poland and also suggests improvements. The study reviews the income tax reforms, developments in the polish tax system, and discusses the need and scope for public expenditure reform, employment, and the role of reforms of labor market institutions in reducing the unemployment rate. The paper highlights the trend in the saving-investment balance, the major determinants of private saving, and presents the results of a simple econometric analysis based on a panel dataset of selected transition economies.
Keywords:
ISCR; CR; government; saving; rate; saving rate; wage; rate reduction; wage growth; privatization strategy; program document; government expenditure projection; personal income; Employment; Private savings; Wages; East Asia; Global; Central and Eastern Europe; Eastern Europe