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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/30567
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| Title: | | Source versus residence based taxation with international mergers and acquisitions  |
| Authors: | | Becker, Johannes Fuest, Clemens |
| Issue Date: | | 2009 |
| Series/Report no.: | | CESifo working paper 2854 |
| Abstract: | | This paper analyses tax competition and tax coordination in a model where capital flows occur in the form of mergers and acquisitions, rather than greenfield investment. In this framework, we show that differences in residence based taxes do not necessarily distort international ownership patterns. Moreover, tax competition yields globally efficient levels of source based corporate income taxes if residence based taxes on capital income are absent. In contrast, in the presence of residence based taxes on dividends, source based corporate income taxes are inefficiently high. The widespread view that tax coordination is less urgent if residence based taxes are available may therefore be misguided. |
| Subjects: | | corporate taxation tax competition mergers and acquisitions |
| JEL: | | H54 H25 F23 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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