The article analyzes in detail the experience of applying such a phenomenon fiscal policy as tax expenditures United States. It provides definition term proposed by Stanley S. Surrey and enshrined Congressional Budget Impoundment Control Act 1974. reviews main types forms giving their characteristics, well features. is concluded that total costs financing 2019 were comparable to level discretio...

Fiscal deficit concerns, especially during sever downturns, and uncertainties regarding future federal grants have underscored the importance of relying on state own-revenues including taxes. In this paper, we derive an equation for state total tax revenue-output ratio and estimate it using a panel of forty-nine states over the period 1978-97 (the sample period reflects a break in some key seri...

a r t i c l e i n f o This paper examines the built-in flexibility properties — as measured by the elasticity of revenue with respect to profits — of the UK corporation tax system. Emphasis is placed on determining some of the major influences on the extent to which total corporation tax revenue changes when profits change over the economic cycle. A microsimulation model, CorpSim, is constructe...

We study an optimum-taxation model, where individuals differ not only in earning abilities, but also in inherited endowments. We show first that an expenditure tax (which is equivalent to a tax on endowments), combined with an optimum nonlinear income tax, is desirable according to a utilitarian social objective, if on average high-able individuals have larger endowments that low-able. Secondly...

All opinions expressed here are those of the authors and not those of the Economics Education and Research Consortium Research dissemination by the EERC may include views on policy, but the EERC itself takes no institutional policy positions Though Russia is very rich in natural resources, the share of natural resource rental payments in budget revenues is very low, less than 4% of the consolid...

This paper analyses the impact of the corporate tax reform introduced in Italy at the beginning of 2004 on firms’ tax burden. For this purpose we develop a microsimulation model reproducing the Italian corporate tax system. The model is based on an integrated dataset combining ISTAT (Italian Institute of Statistics) survey data on enterprises and company accounts, for the year 2000. The empiric...

This paper analyses the impact of the corporate tax reform introduced in Italy at the beginning of 2004 on firms’ tax burden. For this purpose we develop a microsimulation model reproducing the Italian corporate tax system. The model is based on an integrated dataset combining ISTAT (Italian National Statistical Office) survey data and published accounts data for corporations, for the year 2000...

This paper analyzes the interaction between corporate taxes and corporate governance. We show that the characteristics of a taxation system affect the extraction of private benefits by company insiders. A higher tax rate increases the amount of income insiders divert and thus worsens governance outcomes. In contrast, stronger tax enforcement reduces diversion and, in so doing, can raise the sto...

Tax incentives for research and development represent an important tax relief within corporate income tax. B-index helps to detect differences in the influence of tax system on private sector to invest in research and development. The main objective of this paper is to present tax incentives for research and development, and calculation of B-index in Austria and Croatia. B-index results show be...