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Business and Economics > Corporate Taxation

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Cover IMF Staff Country Reports
Bhutan: Selected Issues
International Monetary Fund. Asia and Pacific Dept
This Selected Issues paper describes the current tax system in Bhutan and suggests options for tax policy reform. Though significant hydropower revenues are expected in the medium term as major projects come on-stream, reforms to the existing tax system in the interim will generate fiscal room and prevent recourse to domestic debt to finance development needs. Key reforms include reducing tax exemptions in the near term and introduction of value-added tax in the medium term. The paper also analyzes the adequacy of international reserves in Bhutan using a customized risk-weighted metric. The results indicate that Bhutan’s reserve levels are ample.
Keywords:
ISCR; CR; Bhutan; rupee; export; taxation; indirect tax; export basket; rupee reserve share; world export; generation capacity; overdraft facilities; export base; revenue collection; Consumption taxes; Exports; Debt service; Income and capital gains taxes; South Asia; Asia and Pacific
Cover IMF Working Papers
Possible Implications of Integrating the Corporate and Individual Income Taxes in the United States
International Monetary Fund
The classical corporate profits tax in the United States involves non-neutralities between: different sources of financing; different forms of business organization; and retaining or distributing earnings and may result in the U.S. investor being at a disadvantage vis-à-vis foreign investors. An international comparison is provided, and the potential effects of different integration schemes on the user cost of capital and tax revenues are assessed. The integration of corporate and individual income taxes in the United States could lead to a more efficient domestic and worldwide allocation of resources.
Keywords:
WP; interest payment; double taxation; tax treatment; dividend payment; retained earnings; rate of return; Corporate income tax; Capital gains tax; Interest payments; Income tax systems; Income and capital gains taxes; Global