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Is there a Need for Harmonizing Capital Income Taxes within EC Countries?
Author:
International Monetary Fund
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Series:
IMF Working Papers
Volume/Issue:
Volume 1990: Issue 017
Language:
English
Publication Date:
01 Jan 1990
DOI:
https://doi.org/10.5089/9781451922905.001
ISBN:
9781451922905
ISSN:
1018-5941
Pages:
36
Keywords:
WP; EC country; income tax; capital flow; personal income; EC difference; source country tax; EC trade barriers; EC allocation; tax treatment; tax system; rate of return; EC distribution; efficiency point of view; Corporate income tax; Corporate taxes; Income tax systems; Tax harmonization; Capital income tax; Global
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper describes how growing economic integration within the European Community increases the scope for any one EC country to impose adverse externalities on other member countries by manipulating its capital income taxes. After examining several alternatives to concerted tax harmonization, the paper concludes that there is a need to harmonize capital income taxes within the EC as the Community moves toward a unified market with free capital movements and fixed nominal exchange rates. The harmonization process could start by agreeing on the tax base, followed by setting minimum statutory rates.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 1990: Issue 017