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Tekijä: | Huizinga, H. |
Otsikko: | The incidence of interest withholding taxes: evidence from the LDC loan market |
Lehti: | Journal of Public Economics
1996 : MAR, VOL. 59:3, p. 435-452 |
Asiasana: | LOANS MARKETS ECONOMICS |
Kieli: | eng |
Tiivistelmä: | During the 1970s, developing countries differed widely in their regimes of source-based interest withholding taxes. This paper provides evidence on the relationship between interest rates paid by private LDC borrowers on international credits and the withholding tax regime. Pre-tax interest rates are estimated to increase significantly in withholding tax rates. The extent of the mark-up into higher pre-tax interest rates reflects the offsetting foreign tax credits that banks expect to receive. |
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