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The purpose of this paper is to study the effect of income and property taxes on property assets through the application of fair value accounting and deferred income tax standards.

This approach is based on the whole life costing model that accounts for the initial expenses, operation and maintenance costs, future revenues, and residual value.

Formulating a step-by-step accounting procedure based on fair valuation and temporary differences in taxation, this paper shows the existence of the Laffer curve and thus elucidates the economic effect of the taxes and fully discloses the asset’s fair value. The optimal taxation rate is lower when a property tax and an income tax are both present, as the the marginal gain from both taxes is constantly decreasing, due to the changes in the fair value of the asset, and even has a negative effect in the case of the income tax.

Accounting techniques, which combine market-based assumptions, financial valuation techniques based on discounted fair value models, and standard International Financial Reporting Standards disclosures, prove to be an unbiased proxy for the optimal taxation rate.

This study demonstrates a practical tool for policy makers who are trying to define macroeconomic policies on property taxation. Moreover, this approach can be used as an evaluation model for individual investors who wish to measure the future prospects from a property investment under taxation uncertainties.

The present study aims to investigate the impact of the reduction of the corporate tax rate on corporate tax revenue. The study adopts the theory of taxation by Ibn Khaldun, depicted as the Laffer curve.

The paper analyses time series data for the period 1996 to 2014 using the autoregressive distributed lag (ARDL) approach.

The paper finds that the corporate tax rate has a dual effect on corporate tax revenue over the study period. It shows an inverted U-shape relationship between the corporate tax rate and corporate tax revenue and reveals that the optimal tax rate is 25.5156 per cent. Inferentially, a positive relationship exists between the two variables prior to the optimal tax rate, and a negative relationship prevails afterwards. A further test of causality shows a long-run unidirectional causality between corporate tax rate and corporate tax revenue.

First, it should be noted that the policy was not implemented in isolation. Several other tax incentives were given to corporate tax payers, and therefore, such incentives should be controlled for to have a more insightful evaluation of the policy. Second and most important, there is a need to investigate whether the increased cash flow available to firms as a result of the reduction in the corporate tax rate adds value to firms. It is also necessary to investigate whether firms’ stakeholders benefited from the increased cash flow or was there managerial diversion of firms’ resources.

The policy of gradual reduction of the corporate tax rate in Malaysia is suspected to have a positive impact on the productivity of Malaysian companies, which has contributed to an increase in corporate tax revenue. It also has a positive impact on the economic growth of the country. It means that the lower corporate tax rate has actually reduced the cost of doing business in the country.

The benefit of increased corporate tax revenue needs to be investigated empirically for insightful policy evaluation. In Malaysia, however, such investigation is close to non-existent to the best knowledge of the researchers. Thus, the present study aims at investigating the impact of the policy of gradual reduction of the corporate tax rate on corporate tax revenue over an 18-year period from 1996 to 2014.

Traditionally, the Laffer effect has been discussed in the context of endogenous growth models or in the case of the labor market with respect to willingness to supply more labor given a tax incentive on wages. The paper adopts an inductive approach to discuss it in the context of a product's market, say automobile industry in Turkey.

The author revisits the ad valorem tax model on a product and investigates how the elasticities of demand and supply and the tax rate are related to the Laffer effect. The author considers a special case where demand curve is non-linear and the supply curve is completely elastic. This specific model fits the practical case where the Turkish government expected the auto sellers to pass fully the temporary partial tax concession onto the consumers during the global crisis in 2009.

The author showed that the demand elasticitiy must be calculated neither at the intersection of the initial equilibrium nor that of the final equilibrium points, but somewhere else. The author defined a pass-through coefficient which was different from the classical burden of tax concept, calculating the degree of pass-through of a tax decrease from firms to consumers. Moreover, the author found a one-way relationship between the overall tax revenues of the government and a single sector.

The case of tax revenues where both the demand and supply curves are non-linear and non-extreme must be solved.

The author showed that the government's dual expectation of both boosting the economy, increasing employment and raising its tax revenues can sometimes be consistent given a usual upward sloping supply curve. In the case of a perfectly elastic supply curve, the tax revenues can even be higher with a higher level of equilibrium quantity.

The Turkish government aiming to support the production and employment in this leading export industry, may have expected this temporary tax decrease to be passed completely onto the consumers by the producers. However, this did not happen as producers’ prices to the consumers did not decrease as much as the amount of tax. This paper shows that the after tax elasticities and the current level of tax rate must have been compared.

The author pointed out to the importance of being clear in explicitly indicating at which points the elasticities derived from some function (tax revenue function) of equilibria variables (price and quantity) must be interpreted. In this paper, doing many numerical calculations allowed us to notice the proper point of calculation of the demand elasticity, which is the after-tax price along the “no tax demand curve”. Moreover, a pass-through coefficient is defined which is different from the classical burden of tax concept.

In Okun's (1975) extended essay “Equality and Efficiency — The Big Trade‐Off”, reference is made to the leaky bucket experiment in the context of tax and transfer programmes. Money is carried from the rich to the poor in a bucket which leaks. This idea gives eloquent expression to the concept of efficiency loss in the use of the fiscal system to reduce inequality.

The purpose of this paper is to find out the factors contributing to major shifts in the growth of tax revenue through the estimation of structural breaks and analysis of major tax regimes. Recent contributions to optimal tax theory and empirical literature on the Laffer curve effect, based on elasticity of taxable income, challenge the settled understanding on the rate-revenue relationship. In this backdrop, the objective of the paper is to find out the relative significance of changes in tax rate, tax base and administrative reforms in affecting the growth of tax revenue in India. The paper considers tax data spanning a period of six and half decades for five major components of direct and indirect taxes (corporation, personal income, customs, excise and service) of the central government of India.

Unknown break point(s) – single and multiple – in the tax structure are identified by using the Quandt-Andrews and Bai-Perron econometric tests. These tests were conducted for two models of growth of taxes (tax revenue and tax-NDP ratio) estimated using semi-log functions. A simulation exercise was conducted to find out the robustness of the results by varying the trimming parameter and number of breaks. An analytical framework is used to understand the factors associated with these breaks.

There is more than one break identified for every tax component as per the results of Bai–Perron test. The simulation exercise suggests that estimated breakpoints are mostly robust. Economic growth, structural changes in the economy, simplification and rationalization of tax structure, tax competition, policies such as liberalization have contributed to the changing tax regimes. Results of this study suggest that high tax rates have not been, in particular, detrimental to achieving growth in revenue and factors other than changes in tax rates have been more prominent in bringing about the shifts.

This is, perhaps, the first paper exploring the multiple structural breaks in the fiscal variables in India. It offers an understanding of the changing regimes of central government taxes and the underlying factors for the same.

A tax based on land value is in many ways ideal, but many economists dismiss it by assuming it could not raise enough revenue. Standard sources of data omit much of the potential tax base, and undervalue what they do measure. The purpose of this paper is to present more comprehensive and accurate measures of land rents and values, and several modes of raising revenues from them besides the conventional property tax.

The paper identifies 16 elements of land's taxable capacity that received authorities either trivialize or omit. These 16 elements come in four groups.

In Group A, Elements 1‐4 correct for the downward bias in standard sources. In Group B, Elements 5‐10 broaden the concepts of land and rent beyond the conventional narrow perception, while Elements 11‐12 estimate rents to be gained by abating other kinds of taxes. In Group C, Elements 13‐14 explain how using the land tax, since it has no excess burden, uncaps feasible tax rates. In Group D, Elements 15‐16 define some moot possibilities that may warrant further exploration.

This paper shows how previous estimates of rent and land values have been narrowly limited to a fraction of the whole, thus giving a false impression that the tax capacity is low. The paper adds 14 elements to the traditional narrow “single tax” base, plus two moot elements advanced for future consideration. Any one of these 16 elements indicates a much higher land tax base than economists commonly recognize today. Taken together they are overwhelming, and cast an entirely new light on this subject.

The purpose of this paper is to critique the last decade of research on the effects of high-skill emigration from developing countries, and proposes six new directions for fruitful research.

The study singles out a core assumption underlying much of the recent literature, calling it the “Lump of Learning model” of human capital and development, and describes five ways that research has come to challenge that assumption. It assesses the usefulness of that model in the face of accumulating evidence.

The axioms of the Lump of Learning model have shaped research priorities in this literature, but many of those axioms do not have a clear empirical basis. Future research proceeding from established facts would set different priorities, and would devote more attention to measuring the effects of migration on skilled migrant households, rigorously estimating human capital externalities, gathering microdata beyond censuses, and carefully considering optimal policy – among others.

The recent literature has pursued a series of extensions to the Lump of Learning model. This study urges instead discarding that model, pointing toward a new paradigm for research on skilled migration and development.

This paper aims to investigate empirically how international tourism receipts influence public revenue, in particular non-resource revenue.

The analysis relies on an unbalanced panel of 156 countries (including both developed and developing countries) over the period 1995-2015. The empirical analysis uses the two-step system generalized methods of moments estimator.

The empirical results show that international tourism receipts exert a positive and significant impact on non-resource tax revenue. In addition, this effect increases as countries' development levels rise, which signifies that in terms of non-resource tax revenue, an increase in international tourism receipts benefit much more to advanced economies than to less advanced economies.

These findings call for governments notably in developing countries to develop the tourism sector and concurrently to strengthen tax administrations (and possibly design appropriate tax policy for the tourism sector) to derive the full advantage in terms of public revenue from the rise in international tourism receipts.

The analysis highlights the importance of international tourism receipts for public revenue. This would help scholars and policymakers have a clearer view, at least in terms of magnitude, on the impact of international tourism receipts on non-resource tax revenue.

To the best of the author’s knowledge, this is first the study that investigates this topic.

本文就国际旅游收入如何影响公共收入尤其是非资源收入的问题, 进行了实证研究。

本文的分析基于1995年至2015年期间由156个国家（包括发达国家和发展中国家）组成的不平衡小组的数据。 实证分析采用两步法通用矩量法（GMM）估计。

实证结果表明, 国际旅游收入对非资源税收入产生了积极而显著的影响。 而且, 这种影响随着国家发展水平的提高而增加, 这表明就非资源税收入而言, 国际旅游收入的增加对发达经济体的收益要比对较不发达经济体的收益大得多。

结果表明, 各国政府尤其是发展中国家的政府, 应当发展旅游业, 同时加强税收管理（并可能为旅游业设计适当的税收政策）, 以便从国际旅游业的增长中获得公共收入方面的最大收益。

分析强调了国际旅游收入对公共收入的重要性。 这将有助于学者和决策者对国际旅游收入对非资源税收入的影响（至少在规模上）有更清晰的认识。

据我们所知, 本文是第一个研究该主题的研究。

旅游外汇收入，非资源性收入

研究论文

El artículo investiga empíricamente, cómo los ingresos internacionales por turismo influyen en los ingresos públicos, en particular, todos aquellos ingresos “no relacionados” con los recursos turísticos.

El análisis se basa en un panel no-equilibrado de 156 países (incluidos países desarrollados y en desarrollo) durante el período 1995-2015. El análisis empírico que se aplica, se fundamente en dos fases sobre el estimador de Métodos Generalizados de Momentos (GMM).

Los resultados muestran que los ingresos internacionales por turismo, ejercen un impacto positivo y significativo, en los ingresos fiscales no relacionados con los recursos turísticos. Además, este efecto aumenta, a medida que aumentan los niveles de desarrollo de los países, lo que significa que, en términos de ingresos fiscales, no relacionados con los recursos, un aumento en los ingresos internacionales por turismo, beneficia mucho más a las economías avanzadas, que a las economías menos avanzadas.

Los descubrimientos de este trabajo, exigen que los gobiernos, en particular en los países en desarrollo, fomenten el sector turístico y al mismo tiempo, fortalezcan las administraciones tributarias (y posiblemente diseñen una política fiscal adecuada para el sector turístico), con el fin de obtener una ventaja total, en términos de ingresos públicos por el aumento de los ingresos del turismo internacional.

El análisis destaca la importancia de los ingresos por el turismo internacional en los ingresos públicos. Esto ayudaría a los académicos y gestores de políticas a tener una visión más clara, al menos en términos de magnitud, sobre el impacto de los ingresos por el turismo internacional en los ingresos fiscales no relacionados con los recursos turísticos.

Hasta donde sabemos, este es primero el estudio que investiga este tema.

Recibos de turismo internacional, Ingresos no recurrentes

Trabajo de investigación

This paper aims to examine the growth effects of human capital investment achieved through publicly‐provided, compulsory education, financed from income and consumption taxes.

Constructs an endogenous growth model for developing countries, based on human capital accumulation in which education is publicly provided and financed, and schooling is compulsory.

Public investment in human and physical capital are financed from taxes on wage and capital income, and consumption. Semi‐reduced forms are obtained to examine the equilibrium growth properties of the model, allowing the steady‐state effects of fiscal policy to be derived. The specification of the human capital production function and the strength of labour supply effects are shown to be important for the magnitude of steady‐state outcomes. Simulations illustrate the model's steady‐state and transitional dynamic properties.

Provides an analysis of the growth impact of state‐provided education.