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Europe > Norway

You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
  • Personal Finance -Taxation x
  • Business Taxes and Subsidies x
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Cover IMF Working Papers
Allocating Business Income between Capital and Labor under a Dual Income Tax: The Case of Iceland
Ms. Thornton Matheson
and
Mr. Pall Kollbeins
In contrast to most Scandinavian countries, Iceland allocates the income of closely held businesses (CHBs) between capital and labor based on administratively set minimum wages rather than an imputed return to book assets.  This paper  contrasts the relative tax burdens of the current minimum wage system with asset-based allocation methods, and finds that switching to an asset-based method could increase tax revenues from CHBs in a generally progressive manner.  Predictably, the shift would also raise the tax burden of skilled labor-intensive industries more than it would that of capital-intensive industries.
Keywords:
WP; wage; minimum wage; CHB owner; Dual income tax; small business taxation; wage income; capital income; CHB income; business owner; Income; Capital income; Personal income tax; Minimum wages
Cover IMF Working Papers
Personal Income Tax Reform: Concepts, Issues, and Comparative Country Developments
Mr. Howell H Zee
This paper provides a largely nontechnical survey of concepts and issues related to the reform of the personal income tax, covering both base and rate aspects of the tax, as well as fundamental reform options. It also covers recent developments in selected OECD countries.
Keywords:
WP; flat tax; double taxation; retained earnings; tax rate