| Description |
1 online resource (47 pages) : color illustrations |
| Series |
IMF working paper ; WP/16/127 |
|
IMF working paper ; WP/16/127.
|
| Contents |
Cover -- Contents -- I. Introduction -- II. The U.S. CIT Regime: Issues for Reform -- III. Fundamental Reform Options -- IV. Incremental Reform Proposal -- V. Empirical Investigation of the Incremental Reform -- References |
| Summary |
This paper examines the main distortions of the U.S. corporate income tax (CIT), focusing on its international aspects, and proposes a set of reforms to alleviate them. A bold reform to replace the CIT with a corporate-level rent tax could induce efficiency-enhancing reform of the international tax system. Since fundamental reform is politically difficult, this paper also proposes an incremental reform that would reduce tax expenditures, reduce the CIT rate to 25-28 percent, and impose a minimum rent tax on foreign earnings. Finally, this paper analyzes empirically the likely impact of the incremental on corporate revenues outside the U.S.: Though a U.S. rate cut would likely lower revenues elsewhere, implementation of a strong minimum tax could more than offset that effect for most countries with effective tax rates above 15 percent |
| Notes |
"July 2016." |
|
At head of title: International Monetary Fund, Fiscal Affairs Department |
| Bibliography |
Includes bibliographical references (pages 43-47) |
| Notes |
Online resource; title from pdf title page (IMF.org Web site, viewed September 9, 2016) |
| Subject |
Corporations -- Taxation -- United States
|
|
International business enterprises -- Taxation.
|
|
Revenue management -- United States
|
|
Corporations -- Taxation
|
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International business enterprises -- Taxation
|
|
Revenue management
|
|
United States
|
| Form |
Electronic book
|
| Author |
Kleinbard, Edward D., author.
|
|
Matheson, Thornton, author, (IMF staff)
|
|
International Monetary Fund, publisher.
|
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International Monetary Fund. Fiscal Affairs Department, issuing body.
|
| ISBN |
9781498348942 |
|
1498348947 |
|
