The Experts below are selected from a list of 38385 Experts worldwide ranked by ideXlab platform
Alan D. Woodland - One of the best experts on this subject based on the ideXlab platform.
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Measuring Tax Efficiency
Research Papers in Economics, 2006Co-Authors: Pascalis Raimondos, Alan D. WoodlandAbstract:This paper introduces an index of Tax optimality that measures the distance of some current Tax structure from the optimal Tax structure in the presence of public goods. In doing so, we derive a [0, 1] number that reveals immediately how far the current Tax configuration is from the optimal one and, thereby, the degree of Efficiency of a Tax system. We call this number the Tax Optimality Index. We show how the basic method can be altered in order to derive a revenue equivalent uniform Tax, which measures the size of the public sector. A numerical example is used to illustrate the method developed.
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Measuring Tax Efficiency: A Tax optimality index
Journal of Public Economics, 2006Co-Authors: Pascalis Raimondos-møller, Alan D. WoodlandAbstract:This paper introduces an index of Tax optimality that measures the distance of some current Tax structure from the optimal Tax structure in the presence of public goods. This index is defined on the [0, 1] interval and measures the proportion of the optimal Tax rates that will achieve the same welfare outcome as some arbitrarily given initial Tax structure. We call this number the Tax Optimality Index. We also show how the basic methodology can be altered to derive a revenue equivalent uniform Tax, which measures the Tax burden implied by the public sector. A numerical example is used to illustrate the method developed, and extensions of the analysis to handle models with multiple households and nonlinear Taxation structures are undertaken.
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Measuring Tax Efficiency: A Tax Optimality Index
Social Science Research Network, 2004Co-Authors: Pascalis Raimondos, Alan D. WoodlandAbstract:This Paper introduces an index of Tax optimality that measures the distance of some current Tax structure from the optimal Tax structure in the presence of public goods. In doing so, we derive a [0; 1] number that reveals immediately how far the current Tax configuration is from the optimal one and, thereby, the degree of Efficiency of a Tax system. We call this number the Tax Optimality Index. We show how the basic method can be altered in order to derive a revenue equivalent uniform Tax, which measures the size of the public sector. A numerical example is used to illustrate the method developed.
Brian Erard - One of the best experts on this subject based on the ideXlab platform.
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Taxation with representation: An analysis of the role of Tax practitioners in Tax compliance
Journal of Public Economics, 1993Co-Authors: Brian ErardAbstract:Abstract In this paper a framework is developed for the joint analysis of Tax preparation mode and Tax non-compliance. Estimation is performed using micro-level audit data from the Internal Revenue Service. Although tha availability of Tax practitioners undoubtedly reduces many of the informational and computational barriers to Tax compliance, the results indicate that their use, particularly the use of CPAs and attorneys, is associated with increased Tax non-compliance, which may have negative implications for both Tax equity and Tax Efficiency.
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An analysis of the role of Tax practitioners in Tax compliance
1993Co-Authors: Brian ErardAbstract:In this paper a framework is developed for the joint analysis of Tax preparation mode and Tax non-compliance. Estimation is performed using micro-level audit data from the Internal Revenue Service. Although the availability of Tax practitioners undoubtedly reduces many of the informational and computational barriers to Tax compliance, the results indicate that their use, particularly the use of CPAs and attorneys, is associated with increased Tax non-compliance, which may have negative implications for both Tax equity and Tax Efficiency.
Pascalis Raimondos-møller - One of the best experts on this subject based on the ideXlab platform.
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Measuring Tax Efficiency: A Tax optimality index
Journal of Public Economics, 2006Co-Authors: Pascalis Raimondos-møller, Alan D. WoodlandAbstract:This paper introduces an index of Tax optimality that measures the distance of some current Tax structure from the optimal Tax structure in the presence of public goods. This index is defined on the [0, 1] interval and measures the proportion of the optimal Tax rates that will achieve the same welfare outcome as some arbitrarily given initial Tax structure. We call this number the Tax Optimality Index. We also show how the basic methodology can be altered to derive a revenue equivalent uniform Tax, which measures the Tax burden implied by the public sector. A numerical example is used to illustrate the method developed, and extensions of the analysis to handle models with multiple households and nonlinear Taxation structures are undertaken.
L P Bruneljean - One of the best experts on this subject based on the ideXlab platform.
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Private Asset Management or Private Wealth Management
2011Co-Authors: L P BruneljeanAbstract:Often the terms “private asset management” and “private wealth management” are used interchangeably. Private asset management addresses asset allocation, Tax Efficiency, and their interaction. Wealth management encompasses more extensive issues and introduces more complex interactions.
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Asset Location: Case Study of a Critical Variable
2006Co-Authors: L P BruneljeanAbstract:Multi-location asset management strategies offer high-net-worth families opportunities to enhance Tax Efficiency and lower risk while achieving charitable and family goals—opportunities that single- and even three-location strategies cannot offer. If the manager incorporates multiperiod analyses and tactical strategies with an array of available wealth-planning options (such as family limited partnerships and low-basis diversification strategies), a dynamic asset allocation will result that can greatly improve a family's financial and Tax-planning situations.
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Tax-Aware Equity Investing
2006Co-Authors: L P BruneljeanAbstract:Passive index investing is often touted for its Tax Efficiency, but it has serious limitations. The key to providing superior Tax Efficiency is an active strategy that incorporates Tax-aware methods of security selection, portfolio construction, and risk management. Although optimum Tax Efficiency may be highly difficult to achieve, managers can use a straightforward analytical framework to produce acceptable results.
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Improving Tax Efficiency with Derivatives
AIMR Conference Proceedings, 2002Co-Authors: L P BruneljeanAbstract:Important Tax-law caveats and potential risks notwithstanding, certain derivatives strategies can significantly improve after-Tax portfolio returns by altering the timing of the execution decision and hence the need to pay capital gains Taxes. Derivatives also give managers the flexibility to separate their decisions in terms of strategic asset allocation, portfolio rebalancing, and security selection from the implementation of these decisions. These hybrid physical/derivatives solutions can greatly reduce Tax costs, but they cannot be used by all investors.
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Tax-Aware Portfolio Construction
AIMR Conference Proceedings, 1999Co-Authors: L P BruneljeanAbstract:Portfolio managers must realize that, for their own good and the good of their clients, Taxes matter. Constructing portfolios in a Tax-oblivious manner will lead to less-attractive performance than constructing Tax-aware portfolios. So, managers need to let important issues of Tax Efficiency drive how they construct portfolios and implement strategy.
Sacchidananda Mukherjee - One of the best experts on this subject based on the ideXlab platform.
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Goods and Services Tax Efficiency across Indian States: Panel Stochastic Frontier Analysis
Research Papers in Economics, 2020Co-Authors: Sacchidananda MukherjeeAbstract:In public finance, estimation of Tax potential of a government - either federal or provincial - has immense importance to understand future streams of Tax revenue. Tax potential depends on Tax capacity and Tax effort (TE) and therefore joint estimation of both the functions is desirable. There are several frameworks to estimate Tax capacity and Tax Efficiency (Tax effort); in the present paper time variant truncated panel sochastic Frontier Approach (SFA) is adopted to estimate the functions jointly for the period 2012-13 to 2019-20. The findings of the study could be useful for policy and especially for the sitting Fifteen Finance Commission. The results of the study show that GST capacity of states depends on size and structural composition of the economy. Introduction of GST has reduced states' GSTcapacity and the impact is restricted to scale only. The study has used data from GST Network (GSTN) database for the post-GST period and given all other factors at their levels, GSTN data shows lower GST capacity for high income states and higher capacity for low income states. The relationship between per capita income (PCI) of states and Tax Efficiency is non-linear and as PCI rises TE falls and thereafter it rises. Minor states (special category states and UTs with legislative assembly) have lower Tax Efficiency. Delhi and Goa have the highest GST gap and on average major states could increase their GST collection by 0.52 percent of GSVA and minor states by 1.15 percent if they increase their Tax efforts.
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Goods and Services Tax Efficiency across Indian States: panel stochastic frontier analysis
Indian Economic Review, 2020Co-Authors: Sacchidananda MukherjeeAbstract:In public finance, estimation of Tax potential of a government—either federal or provincial—has immense importance to understand future streams of Tax revenue. Tax potential depends on Tax capacity and Tax effort (TE) and, therefore, joint estimation of both the functions is desirable. There are several frameworks to estimate Tax capacity and Tax Efficiency (Tax effort); in the present paper, time-variant-truncated panel Stochastic Frontier Approach (SFA) is adopted to estimate the functions jointly for the period 2012–13 to 2019–20. The findings of the study could be useful for policy and especially for the sitting Fifteen Finance Commission. The results of the study show that GST capacity of states depends on size and structural composition of the economy. Introduction of GST has reduced states’ GST capacity and the impact is restricted to scale only. The study has used data from GST Network (GSTN) database for the post-GST period and given all other factors at their levels, GSTN data show lower GST capacity for high-income states and higher capacity for low-income states. The relationship between per capita income (PCI) of states and Tax Efficiency is non-linear and as PCI rises, TE falls and thereafter it rises. Minor states (special category states and UTs with legislative assembly) have lower Tax Efficiency. Delhi and Goa have the highest GST gap and on average major states could increase their GST collection by 0.52 percent of GSVA and minor states by 1.15% if they increase their Tax efforts.
