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Territorial vs. Worldwide Corporate Taxation : Implications for Developing Countries / Thornton Matheson, Victoria Perry, Chandara Veung.
- Format:
- Book
- Government document
- Author/Creator:
- Matheson, Thornton.
- Series:
- IMF Working Papers; Working Paper ; No. 2013/205
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Corporations--Taxation.
- Corporations.
- Corporations--Taxation--Developing countries.
- Double taxation.
- Investments, Foreign--Developing countries.
- Investments, Foreign.
- Physical Description:
- 1 online resource (26 p.)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2013.
- Language Note:
- English
- Summary:
- Global investment patterns mean that effective taxation of foreign investors is of increasing importance to the economies of lower income countries. It is thus of considerable concern that the historical framework for cross-border income tax arrangements is not always well suited to allow low-income countries (LICs) effectively to generate tax revenues from profits on foreign direct investment (FDI). Several aspects of this framework contribute to the problem. This paper discusses, in particular, the likely effect of a shift by major economies from the system of worldwide corporate taxation toward a territorial system on the volume, distribution, and financing of FDI, focusing on LICs. It then empirically analyzes bilateral outbound FDI data for the UK for 2002–10 to determine whether the move to territoriality made corporations more sensitive to hostcountry statutory tax rates. Supporting evidence for this hypothesis is found for FDI financed from new equity.
- Contents:
- ""Cover""; ""Contents""; ""I. Introduction""; ""II. The Impact of Shifting from Worldwide to Territorial Taxation on Outbound FDI""; ""III. Impact of a Shift to a Territorial System on the Economies of LICs""; ""IV. Analysis of the UK Shift to Territoriality""; ""V. Conclusions and Areas for Future Research""; ""Tables""; ""1. Distribution of OECD Taxation Systems""; ""2. Regression Variables""; ""3. FDI Financed with New Equity""; ""4. FDI Financed with Retained Earnings""; ""Figures""; ""1. US FDI Income 2000-10""; ""2. UK FDI Income 2005-10""; ""3. Japan FDI Income 2005-11""
- ""Appendix Tables""""1. List of Host Economies by Development Level""; ""2. FDI Financed with New Equity (Fixed Effect)""; ""3. FDI Financed with Retained Earnings""; ""References""
- Notes:
- Description based upon print version of record.
- Includes bibliographical references.
- Description based on online resource; title from PDF title page (ebrary, viewed May 29, 2014).
- ISBN:
- 9781484327128
- 1484327128
- 9781484398463
- 1484398467
- 9781484357347
- 1484357345
- OCLC:
- 867928062
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