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| Tekijä: | Bond, S. Devereux, M. |
| Otsikko: | On the design of a neutral business tax uncertainty |
| Lehti: | Journal of Public Economics
1995 : SEP, VOL. 58:1, p. 57-71 |
| Asiasana: | TAXATION UNCERTAINTY ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | This paper extends the results of Broadway and Bruce (1984) and Fane (1987) to describe a tax on business profits which is neutral with respect to investment and wind-up decisions, and default outcomes, under certainty and bankruptcy risk. The tax base allows deductions for depreciation and the cost of finance, but requires knowledge of neither true economic depreciation nor the firm's required rate of return. |
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