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Globalization and Factor Income Taxation (Английский)

How has globalization affected the relative taxation of labor and capital, and why? To address this question, this paper builds and analyzes a new database of effective macroeconomic tax rates covering 150 countries since 1965, constructed by combining national accounts data with government revenue statistics. Four main findings are obtained. (1) The effective tax rates on labor and capital have converged globally since the 1960s, due to a 10 percentage-point increase in labor taxation and a 5 percentage-point decline in capital taxation. (2) The decline in capital taxation is concentrated in high-income countries. By contrast, capital taxation has increased in developing countries since the 1990s, albeit from a low base. (3) Consistently across a variety of research designs, the findings show that the rise in capital taxation in developing countries can be explained by a tax capacity effect of international trade: trade openness leads to a concentration of economic activity in formal corporate structures, where capital taxes are easier to impose. (4) At the same time, international economic integration reduces statutory tax rates, due to increased tax competition. In high-income countries, this negative tax competition effect of trade has dominated, while in developing countries, the positive tax-capacity effect of international trade appears to have prevailed.

Подробная Информация

  • Автор

    Bachas,Pierre Jean, Fisher-Post,Matthew, Jensen,Anders, Zucman,Gabriel

  • Дата подготовки документа

    2022/03/15

  • Тип документа

    Рабочий документ в рамках исследования вопросов политики

  • Номер отчета

    WPS9973

  • Том

    1

  • Total Volume(s)

    1

  • Страна

    Весь мир,

  • Регион

    Регионы мира,

  • Дата раскрытия информации

    2022/03/15

  • Disclosure Status

    Disclosed

  • Название документа

    Globalization and Factor Income Taxation

  • Ключевые слова

    reduction in corporate tax rates; development research group; tax rate on labor; capital taxation; tax rate on capital; statutory corporate tax rates; tax burden on labor; Research Support; corporate income tax rate; capital income tax rate; types of tax revenues; dual income tax system; revenue from property taxes; impact of trade liberalization; capital tax rate; personal income tax; increase in labor; factor of production; global value chain; net domestic product; factor share; factor income taxation; statutory tax rate; lower tax rate; amount of tax; total tax revenue; individual income tax; labor income; government revenue source; revenue from taxes; income tax revenue; types of taxes; taxation on capital; local government tax; change in employment; progressive tax schedule; high tax rate; wages and salary; indirect tax revenue; social security payment; value-added tax; personal income taxation; income tax return; forms of income; health insurance contributions; payroll tax revenue; share of capital; income from capital; tax on property; changes in trade; taxation of dividends; incidence of tax; increase in capital; trade liberalization increases; world war ii; returns to capital; effective tax rate; growth in trade; share of import; determinants of trade; internationally comparable data; research support budget; taxation of labor; international economic integration; shifting tax burdens; capital share; corporate sector; national account; domestic output; labor share; time sery; global trend; factor taxation; national income; International Trade; exemption threshold; instrumental variable; research design; missing value; mobile factor; tax avoidance; corporate structure; populous country; salaried employment; recent years; wealth tax; negative slope; production process; world income; Civil War; across border; historical data; national statistical; tax structure; inheritance tax; capital component; small sample; trade integration; capital owner; pension contribution; tax credit; retirement account; housing rent; investment income; bootstrap method; colonial africa; Command economy; statistical inference; conceptual framework; factor price; calendar year; several years; positive revenue; cross-border mobility; mean square; sample period; equal compensation; weighted average; capital depreciation; imputation method; separate category; data coverage; value added; household sector; limited coverage; government reports; tax type; capital openness; rental income; systematic analysis; trade measure; trade agreement; foreign subsidiary; solid line; aggregate capital; extreme scenario; cross-border trade; small country; emerging country; tax collection; baseline assumptions; bargaining position; bargaining model; trade model; ordinary income; export shock; export opportunities; export opportunity; tax wedge; production decision; tax rule; scarce resource; income account; import competition; behavioral response; aggregate income; account identity; global coverage; corporate capital; time trend; middle class; research assistance; social sustainability; increased openness; consumption tax; capital account; positive impact; business sector; tax redistribution; labor taxes; capital cover; tax base; information trail; large corporation; modern accounting; rising trend; parametric estimation; downward pressure; weighting scheme; technological improvement; container shipping; informal business; development policy; open access; positive tax; competition effect; negative tax; capital mobility; Corporate Shares; development path; single tax; economic history; macroeconomic literature; tradable sector; literature studies; recent work

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