The Experts below are selected from a list of 57 Experts worldwide ranked by ideXlab platform
Helena Blažić - One of the best experts on this subject based on the ideXlab platform.
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Income vs. Consumption-Based concept of direct Taxation: eternal debate in Croatia
2016Co-Authors: Hrvoje Šimović, Helena Blažić, Ana ŠtambukAbstract:Croatia marked more than 20 years from the big tax reform in 1994, which set up foundations of market economy tax system. At the time, Croatia was the only country consistently implementing Consumption-Based Taxation i.e. interest- adjusted personal and corporate income tax. Such tax system triggered the numerous debates among Croatian (and international) tax experts. Special contribution to such tax system and debates was implementation of the Allowance for Corporate Equity, i.e. “protective interest” (term used in Croatia). Main motive and goal of this paper is to explore current tax experts’ attitudes toward integral model of consumption- based direct Taxation that was in force in Croatia between 1994-2000, and does those attitudes reflect current layout of the Croatian tax system. In the paper, we present the results of a broad expert opinion survey about the Croatian tax system with special emphasis on elements contributing to consumption- versus income-based concept debate. The paper explores determinants of experts’ policy related to personal values regarding redistribution issues and beliefs on how the tax policy affects the economy. The research focuses on several questions/statements i.e. dichotomous dependent variables for which (non)-Taxation presents the main precondition for the existence of consumption or income-based system of direct Taxation. Such statements refer to introduction or abolishment of Taxation of dividends, financial capital gains and interests and introduction or abolishment of protective interest. From their perspective, robust econometric models are constructed with relevant socio-economic and demographic independent variables. The results imply that there are no consistent and significant expert attitudes toward different concepts of Taxation. Accordingly, the results are in line with the existence of the current hybrid system i.e. system with elements of income- and Consumption-Based system of direct Taxation. Regression results indicate that consumption- based elements of direct Taxation are influenced by attitudes towards equity, neutrality, and efficiency as well as, to a lesser extent, by some demographic variables (employment sector and education).
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Income vs. Consumption-Based concept of direct Taxation: eternal debate in Croatia
2015Co-Authors: Hrvoje Šimović, Helena Blažić, Ana ŠtambukAbstract:In 2014, Croatia marked 20 years from the first big tax reform, which set up foundations of the current tax system to a great extent. The 1994 tax reform was in the spotlight of numerous debates in Croatian as well as international tax literature. At the time, Croatia was the only country consistently implementing Consumption-Based Taxation i.e. interest- adjusted personal and corporate income tax. Special contribution to the debate was influenced by the Allowance for Corporate Equity, called “protective interest” in Croatia. In the paper, we present the results of a broad expert opinion survey about the Croatian tax system with special emphasis on elements contributing to consumption- versus income-based concept debate. The paper explores determinants of experts’ policy opinions in Croatia related to some personal values regarding redistribution issues and professional (expert) economic views and beliefs on how the tax policy affects the economy. The research focuses on several questions/statements i.e. dichotomous dependent variables for which (non)-Taxation presents the main precondition for the existence of consumption or income-based system of direct Taxation. From their perspective, robust econometric models are constructed with relevant socio-economic and demographic independent variables. The results imply that there are no consistent and significant expert attitudes toward different concepts of Taxation. Accordingly, the results are in line with the existence of the current hybrid system i.e. system with elements of income- and Consumption-Based system of direct Taxation. Regression results indicate that consumption- based elements of direct Taxation are influenced by attitudes towards equity, neutrality, and efficiency as well as, to a lesser extent, by some demographic variables (employment sector and education).
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The Croatian Tax System: From Consumption Based to Income-Based
Taxation and Public Finance in Transition and Developing Economies, 2008Co-Authors: Helena BlažićAbstract:Croatia was the first country to introduce Consumption-Based Taxation (“ interest-adjusted income tax” and “ interest-adjusted profit tax” ) as a part of its tax reform towards a market economy. The model was later abandoned, but a lot of its (Consumption-Based) elements have remained. This paper analysis the former Consumption-Based model, and also the subsequent “ income-based” model. Unlike the former, the later is not at all unique, and considerably resembles the current situation in other transition countries. Thus the Consumption-Based elements of the later model are assessed using comparative analysis with other transition countries (EU members as well as South-Eastern European countries). In the end, future changes in the Croatian tax system from the Consumption-Based/income based perspectives are presented.
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Croatian Tax System: From Consumption-Based to Income-Based
2008Co-Authors: Helena BlažićAbstract:Croatia was the first country to introduce Consumption-Based Taxation (“ interest-adjusted income tax” and “ interest-adjusted profit tax” ) as a part of its tax reform towards a market economy. The model was later abandoned, but a lot of its (Consumption-Based) elements have remained. This paper analysis the former Consumption-Based model, and also the subsequent "income-based" model. Unlike the former, the later is not at all unique, and considerably resembles the current situation in other transition countries. Thus the Consumption-Based elements of the later model are assessed using comparative analysis with other transition countries (EU members as well as South-Eastern European countries). In the end, future changes in the Croatian tax system from the Consumption-Based/income based perspectives are presented.
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Consumption-Based Taxation at the business level: The Croatian experience
The Journal of Entrepreneurial Finance, 2003Co-Authors: Helena Blažić, Nikša Nikolić, Mario PečarićAbstract:Croatia is the first country in the world to implement Consumption-Based direct Taxation aimed at the individual as well as the business levels. Traditional corporate tax has been replaced by the so-called "interest-adjusted profit tax", which encompasses the corporate as well as the non-corporate sector. This paper analyses the efficiency of this tax in Croatia with regard to its neutrality as well as its cost-effectiveness. This tax can be regarded as neutral in terms of investment, finance, inflation and organizational form. But the imperfections of financial markets in Croatia still cause distortions between debt and equity capital as well as some distortions between the corporate and non-corporate sectors. The second efficiency aspect is identified as more doubtful, because of the relatively high tax expenditure of protective interest and incentive effects that have not been proven in practice.
Michael Pflüger - One of the best experts on this subject based on the ideXlab platform.
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International Commodity Taxation under Monopolistic Competition
Journal of Public Economic Theory, 2004Co-Authors: Andreas Haufler, Michael PflügerAbstract:We analyze non-cooperative commodity Taxation in a two-country trade model characterized by monopolistic competition and international firm and capital mobility. In this setting, taxes in one country affect foreign welfare through the relocation of mobile firms and through changes in the rents accruing to capital owners. With Consumption-Based Taxation, these fiscal externalities exactly offset each other and the non-cooperative tax equilibrium is Pareto efficient. With production-based Taxation, however, there are additional externalities on the foreign tax base and the foreign price level that lead non-cooperative tax rates to exceed their Pareto efficient levels.
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International Commodity Taxation Under Monopolistic Competition
2001Co-Authors: Andreas Haufler, Michael PflügerAbstract:We analyze non-cooperative commodity Taxation in a symmetric two-country trade model characterized by monopolistic competition and international firm and capital mobility. In this setting, taxes in one country affect foreign welfare through the relocation of mobile firms and through changes in the rents accruing to capital owners. With Consumption-Based Taxation, these fiscal externalities exactly offset each other and the non-cooperative tax equilibrium is Pareto efficient. With production-based Taxation, however, there is an additional externality on the foreign price level which leads non-cooperative tax rates to exceed their Pareto efficient levels.
George R. Zodrow - One of the best experts on this subject based on the ideXlab platform.
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Fundamental Tax Reform: Issues, Choices, and Implications - Fundamental tax reform : issues, choices, and implications
2008Co-Authors: John W. Diamond, George R. ZodrowAbstract:Reform of the federal income tax system has become a perennial item on the domestic policy agenda of the United States, although there is considerable uncertainty over specifics. Indeed the recent report of the President's Advisory Panel on Federal Tax Reform recommended not one but two divergent policy directions (and included extensive discussion of a third). In Fundamental Tax Reform, top experts in tax policy discuss a wide range of issues raised by the prospect of significant tax reform, identifying the most critical questions and considering whether the answers are known, unknown--or unknowable. The debates over tax reform usually concern the advantages and disadvantages of income-based Taxation as opposed to any of the several alternative forms of Consumption-Based Taxation. The book opens with chapters that discuss the strengths, weaknesses, and political feasibility of these options. Other chapters consider the effect of tax reform on businesses, especially their investment behavior, and include a discussion of possible problems in any transition to a Consumption-Based tax; international Taxation issues arising in an era of globalization; and individual behavioral response to tax reform, including a view of the topic from the perspective of the relatively new field of behavioral economics. ContributorsRosanne Altshuler, Alan J. Auerbach, John W. Diamond, Harry Grubert, Arnold C. Harberger, Kevin A. Hassett, Thomas J. Kniesner, Laurence J. Kotlikoff, Edward J. McCaffery, Kathryn Newmark, David Rapson, Daniel Shaviro, Joel Slemrod, James P. Ziliak, George R. ZodrowDiscussants James Alm, Henry J. Aaron, Charles L. Ballard, Leonard E. Burman, Robert S. Chirinko, Robert D. Dietz, Malcolm Gillis, Roger H. Gordon, Jane G. Gravelle, Timothy S. Gunning, James M. Poterba, Thomas S. Neubig, Alan Viard, George Yin John W. Diamond is Edward and Hermena Kelly Fellow in Tax Policy and Adjunct Professor of Economics at the Baker Institute for Public Policy, Rice University. George R. Zodrow is Professor of Economics and Rice Scholar at the Baker Institute and International Research Fellow at the Centre for Business Taxation, Oxford University.
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Should Capital Income Be Subject to Consumption-Based Taxation?
2007Co-Authors: George R. ZodrowAbstract:In 2005, the report of the President’s Advisory Panel on Federal Tax Reform proposed two alternative approaches to tax reform. If implemented, both plans would move the tax system farther away from the full Taxation of capital income that is the hallmark of a true income tax. However, the panel did not recommend enacting a true consumption tax — instead, both proposals are hybrid income-consumption taxes. The report thus highlights the uncertainty regarding the appropriate tax treatment of capital income, the focus of this book. This chapter examines the central issue the panel faced — whether to implement full-scale Consumption-Based Taxation of capital income.
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Should Capital Income Be Subject to Consumption-Based Taxation?
2006Co-Authors: George R. ZodrowAbstract:Theoretical literature is generally supportive of the desirability of Consumption-Based Taxation of capital income.
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Prospects for Consumption-Based Tax Reform in the United States
FinanzArchiv, 2003Co-Authors: George R. ZodrowAbstract:It appears that the debate in the US regarding "fundamental tax reform", commonly defined as replacing the existing corporate and individual income tax system with some form of Consumption-Based Taxation, is about to resume in earnest. At the current time, however, the chances for passage of such reform do not seem particularly great. This paper argues that, in addition to political reasons, doubts about the desirability of reform exist because several key economic issues raised by fundamental tax reform are not yet fully resolved. Specifically, before a compelling case for fundamental reform can be made, its advocates must address five key issues - uncertainty about the economic effects of fundamental tax reform, concern about its distributive effects, uncertainty about the simplicity gains that might be obtained with fundamental reform relative to those under incremental income tax reform, concerns about undesirable transitional effects of fundamental tax reform, and concerns about its unintended side-effects. This paper examines the current state of the debate on each of these five issues.
Andreas Haufler - One of the best experts on this subject based on the ideXlab platform.
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International Commodity Taxation under Monopolistic Competition
Journal of Public Economic Theory, 2004Co-Authors: Andreas Haufler, Michael PflügerAbstract:We analyze non-cooperative commodity Taxation in a two-country trade model characterized by monopolistic competition and international firm and capital mobility. In this setting, taxes in one country affect foreign welfare through the relocation of mobile firms and through changes in the rents accruing to capital owners. With Consumption-Based Taxation, these fiscal externalities exactly offset each other and the non-cooperative tax equilibrium is Pareto efficient. With production-based Taxation, however, there are additional externalities on the foreign tax base and the foreign price level that lead non-cooperative tax rates to exceed their Pareto efficient levels.
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International Commodity Taxation Under Monopolistic Competition
2001Co-Authors: Andreas Haufler, Michael PflügerAbstract:We analyze non-cooperative commodity Taxation in a symmetric two-country trade model characterized by monopolistic competition and international firm and capital mobility. In this setting, taxes in one country affect foreign welfare through the relocation of mobile firms and through changes in the rents accruing to capital owners. With Consumption-Based Taxation, these fiscal externalities exactly offset each other and the non-cooperative tax equilibrium is Pareto efficient. With production-based Taxation, however, there is an additional externality on the foreign price level which leads non-cooperative tax rates to exceed their Pareto efficient levels.
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Commodity Taxation and international trade in imperfect markets
2000Co-Authors: Andreas Haufler, Guttorm Schjelderup, Frank StählerAbstract:This paper studies non-cooperative commodity Taxation in a trade model with imperfect competition and trade costs. Nationally optimal tax policy simultaneously tries to correct the domestic distortion from imperfect competition and to shift rents to the home country. Importantly, this trade-off depends qualitatively on the international commodity tax regime in operation. For low levels of trade costs, we show that production-based commodity taxes dominate from a global welfare perspective, but this ranking is reversed in favor of Consumption-Based Taxation when trade costs become sufficiently high.
Ana Štambuk - One of the best experts on this subject based on the ideXlab platform.
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Income vs. Consumption-Based concept of direct Taxation: eternal debate in Croatia
2016Co-Authors: Hrvoje Šimović, Helena Blažić, Ana ŠtambukAbstract:Croatia marked more than 20 years from the big tax reform in 1994, which set up foundations of market economy tax system. At the time, Croatia was the only country consistently implementing Consumption-Based Taxation i.e. interest- adjusted personal and corporate income tax. Such tax system triggered the numerous debates among Croatian (and international) tax experts. Special contribution to such tax system and debates was implementation of the Allowance for Corporate Equity, i.e. “protective interest” (term used in Croatia). Main motive and goal of this paper is to explore current tax experts’ attitudes toward integral model of consumption- based direct Taxation that was in force in Croatia between 1994-2000, and does those attitudes reflect current layout of the Croatian tax system. In the paper, we present the results of a broad expert opinion survey about the Croatian tax system with special emphasis on elements contributing to consumption- versus income-based concept debate. The paper explores determinants of experts’ policy related to personal values regarding redistribution issues and beliefs on how the tax policy affects the economy. The research focuses on several questions/statements i.e. dichotomous dependent variables for which (non)-Taxation presents the main precondition for the existence of consumption or income-based system of direct Taxation. Such statements refer to introduction or abolishment of Taxation of dividends, financial capital gains and interests and introduction or abolishment of protective interest. From their perspective, robust econometric models are constructed with relevant socio-economic and demographic independent variables. The results imply that there are no consistent and significant expert attitudes toward different concepts of Taxation. Accordingly, the results are in line with the existence of the current hybrid system i.e. system with elements of income- and Consumption-Based system of direct Taxation. Regression results indicate that consumption- based elements of direct Taxation are influenced by attitudes towards equity, neutrality, and efficiency as well as, to a lesser extent, by some demographic variables (employment sector and education).
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Income vs. Consumption-Based concept of direct Taxation: eternal debate in Croatia
2015Co-Authors: Hrvoje Šimović, Helena Blažić, Ana ŠtambukAbstract:In 2014, Croatia marked 20 years from the first big tax reform, which set up foundations of the current tax system to a great extent. The 1994 tax reform was in the spotlight of numerous debates in Croatian as well as international tax literature. At the time, Croatia was the only country consistently implementing Consumption-Based Taxation i.e. interest- adjusted personal and corporate income tax. Special contribution to the debate was influenced by the Allowance for Corporate Equity, called “protective interest” in Croatia. In the paper, we present the results of a broad expert opinion survey about the Croatian tax system with special emphasis on elements contributing to consumption- versus income-based concept debate. The paper explores determinants of experts’ policy opinions in Croatia related to some personal values regarding redistribution issues and professional (expert) economic views and beliefs on how the tax policy affects the economy. The research focuses on several questions/statements i.e. dichotomous dependent variables for which (non)-Taxation presents the main precondition for the existence of consumption or income-based system of direct Taxation. From their perspective, robust econometric models are constructed with relevant socio-economic and demographic independent variables. The results imply that there are no consistent and significant expert attitudes toward different concepts of Taxation. Accordingly, the results are in line with the existence of the current hybrid system i.e. system with elements of income- and Consumption-Based system of direct Taxation. Regression results indicate that consumption- based elements of direct Taxation are influenced by attitudes towards equity, neutrality, and efficiency as well as, to a lesser extent, by some demographic variables (employment sector and education).